Mackay Shields LLC Sells 8,948 Shares of Chord Energy Co. (NASDAQ:CHRD)

Mackay Shields LLC decreased its position in Chord Energy Co. (NASDAQ:CHRD) by 8.5% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 95,748 shares of the company’s stock after selling 8,948 shares during the period. Mackay Shields LLC owned approximately 0.23% of Chord Energy worth $15,916,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of CHRD. Yousif Capital Management LLC increased its holdings in shares of Chord Energy by 1.7% in the fourth quarter. Yousif Capital Management LLC now owns 19,620 shares of the company’s stock valued at $3,261,000 after purchasing an additional 334 shares during the last quarter. California Public Employees Retirement System lifted its holdings in shares of Chord Energy by 4.1% in the fourth quarter. California Public Employees Retirement System now owns 78,852 shares of the company’s stock worth $13,108,000 after acquiring an additional 3,128 shares during the last quarter. Monument Capital Management bought a new position in Chord Energy in the 4th quarter valued at approximately $2,035,000. Lindbrook Capital LLC lifted its stake in shares of Chord Energy by 67.6% in the 4th quarter. Lindbrook Capital LLC now owns 305 shares of the company’s stock valued at $51,000 after acquiring an additional 123 shares during the last quarter. Finally, Knights of Columbus Asset Advisors LLC boosted its stake in shares of Chord Energy by 94.6% during the fourth quarter. Knights of Columbus Asset Advisors LLC now owns 35,335 shares of the company’s stock valued at $5,874,000 after purchasing an additional 17,176 shares in the last quarter. 97.76% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Truist Financial decreased their price target on Chord Energy from $229.00 to $224.00 and set a “buy” rating for the company in a report on Friday, April 5th. Piper Sandler boosted their price target on shares of Chord Energy from $219.00 to $230.00 and gave the stock an “overweight” rating in a report on Friday, April 19th. Stifel Nicolaus boosted their price objective on Chord Energy from $178.00 to $211.00 and gave the stock a “buy” rating in a research report on Tuesday, February 27th. Mizuho lifted their price objective on shares of Chord Energy from $189.00 to $195.00 and gave the stock a “buy” rating in a research report on Thursday, March 14th. Finally, Bank of America cut shares of Chord Energy from a “buy” rating to an “underperform” rating and lowered their target price for the company from $177.00 to $165.00 in a report on Friday, January 5th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $191.50.

Chord Energy Trading Up 0.5 %

Shares of NASDAQ CHRD traded up $0.99 during midday trading on Thursday, hitting $184.58. The company’s stock had a trading volume of 382,561 shares, compared to its average volume of 660,391. The firm has a market cap of $7.67 billion, a P/E ratio of 7.80 and a beta of 1.06. Chord Energy Co. has a 12-month low of $133.34 and a 12-month high of $190.23. The company has a current ratio of 1.22, a quick ratio of 1.16 and a debt-to-equity ratio of 0.08. The business’s 50 day moving average is $172.11 and its two-hundred day moving average is $165.17.

Chord Energy (NASDAQ:CHRD) last posted its quarterly earnings results on Wednesday, February 21st. The company reported $5.25 earnings per share for the quarter, beating the consensus estimate of $5.04 by $0.21. Chord Energy had a net margin of 26.27% and a return on equity of 16.35%. The firm had revenue of $964.69 million during the quarter, compared to the consensus estimate of $891.67 million. As a group, equities research analysts expect that Chord Energy Co. will post 21.6 EPS for the current year.

Chord Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 19th. Stockholders of record on Tuesday, March 5th were paid a dividend of $3.25 per share. The ex-dividend date of this dividend was Monday, March 4th. This is an increase from Chord Energy’s previous quarterly dividend of $1.25. This represents a $13.00 dividend on an annualized basis and a dividend yield of 7.04%. Chord Energy’s dividend payout ratio (DPR) is currently 21.25%.

Insiders Place Their Bets

In other Chord Energy news, CFO Michael H. Lou sold 3,000 shares of the stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $165.00, for a total transaction of $495,000.00. Following the completion of the sale, the chief financial officer now directly owns 128,209 shares of the company’s stock, valued at $21,154,485. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.70% of the stock is owned by company insiders.

Chord Energy Company Profile

Chord Energy Corporation operates as an independent exploration and production company in the United States. It acquires, explores, develops, and produces crude oil, natural gas, and natural gas liquids in the Williston Basin. The company sells its products to refiners, marketers, and other purchasers that have access to nearby pipeline and rail facilities.