TCW Group Inc. Sells 12,760 Shares of Chord Energy Co. (NASDAQ:CHRD)

TCW Group Inc. trimmed its stake in Chord Energy Co. (NASDAQ:CHRD) by 29.8% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 30,040 shares of the company’s stock after selling 12,760 shares during the period. TCW Group Inc. owned approximately 0.07% of Chord Energy worth $5,037,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Rise Advisors LLC bought a new stake in shares of Chord Energy in the 1st quarter valued at approximately $31,000. SRS Capital Advisors Inc. lifted its stake in shares of Chord Energy by 306.9% in the 4th quarter. SRS Capital Advisors Inc. now owns 293 shares of the company’s stock valued at $49,000 after purchasing an additional 221 shares during the last quarter. 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 purchasing an additional 123 shares during the last quarter. GAMMA Investing LLC lifted its stake in shares of Chord Energy by 151.6% in the 2nd quarter. GAMMA Investing LLC now owns 317 shares of the company’s stock valued at $53,000 after purchasing an additional 191 shares during the last quarter. Finally, Quadrant Capital Group LLC lifted its stake in shares of Chord Energy by 94.3% in the 4th quarter. Quadrant Capital Group LLC now owns 406 shares of the company’s stock valued at $67,000 after purchasing an additional 197 shares during the last quarter. 97.76% of the stock is owned by institutional investors.

Chord Energy Stock Down 0.8 %

Shares of NASDAQ:CHRD traded down $1.30 on Friday, reaching $153.10. The company had a trading volume of 671,233 shares, compared to its average volume of 905,600. The firm has a market capitalization of $6.38 billion, a PE ratio of 7.18, a PEG ratio of 0.92 and a beta of 1.01. The company has a current ratio of 1.14, a quick ratio of 1.07 and a debt-to-equity ratio of 0.08. Chord Energy Co. has a 52-week low of $145.53 and a 52-week high of $190.23. The firm’s 50 day simple moving average is $166.38 and its 200-day simple moving average is $170.25.

Chord Energy (NASDAQ:CHRD) last announced its earnings results on Wednesday, August 7th. The company reported $4.69 EPS for the quarter, missing analysts’ consensus estimates of $5.00 by ($0.31). Chord Energy had a return on equity of 16.57% and a net margin of 22.67%. The firm had revenue of $902.70 million during the quarter, compared to the consensus estimate of $982.43 million. During the same quarter in the prior year, the firm posted $3.65 earnings per share. The business’s revenue for the quarter was up 29.8% compared to the same quarter last year. As a group, analysts expect that Chord Energy Co. will post 20.85 earnings per share for the current fiscal year.

Chord Energy Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 5th. Investors of record on Wednesday, August 21st will be given a dividend of $1.25 per share. The ex-dividend date is Wednesday, August 21st. This represents a $5.00 dividend on an annualized basis and a yield of 3.27%. Chord Energy’s payout ratio is 23.46%.

Analyst Ratings Changes

Several brokerages have recently weighed in on CHRD. Royal Bank of Canada increased their price target on Chord Energy from $180.00 to $200.00 and gave the stock an “outperform” rating in a report on Monday, April 29th. Wolfe Research began coverage on Chord Energy in a report on Thursday, July 18th. They issued a “peer perform” rating on the stock. Piper Sandler reduced their price target on Chord Energy from $234.00 to $206.00 and set an “overweight” rating on the stock in a report on Thursday. Bank of America reiterated a “buy” rating and issued a $201.00 price target on shares of Chord Energy in a report on Friday, June 14th. Finally, Citigroup reduced their price target on Chord Energy from $195.00 to $180.00 and set a “buy” rating on the stock in a report on Monday, August 12th. One research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $206.00.

Chord Energy 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.