Chord Energy Co. (NASDAQ:CHRD) Shares Sold by Viking Fund Management LLC

Viking Fund Management LLC cut its position in Chord Energy Co. (NASDAQ:CHRD) by 33.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 400 shares of the company’s stock after selling 200 shares during the period. Viking Fund Management LLC’s holdings in Chord Energy were worth $47,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in CHRD. Victory Capital Management Inc. boosted its stake in Chord Energy by 41.3% during the 3rd quarter. Victory Capital Management Inc. now owns 2,245,435 shares of the company’s stock worth $292,423,000 after purchasing an additional 656,374 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Chord Energy by 3.0% in the third quarter. Geode Capital Management LLC now owns 1,162,442 shares of the company’s stock worth $151,077,000 after buying an additional 34,156 shares in the last quarter. Bank of Montreal Can boosted its position in Chord Energy by 956.5% during the second quarter. Bank of Montreal Can now owns 58,359 shares of the company’s stock worth $9,873,000 after acquiring an additional 52,835 shares during the last quarter. Foundry Partners LLC grew its stake in Chord Energy by 22.7% during the 3rd quarter. Foundry Partners LLC now owns 52,009 shares of the company’s stock valued at $6,773,000 after acquiring an additional 9,613 shares in the last quarter. Finally, Caxton Associates LP acquired a new stake in Chord Energy in the 2nd quarter valued at about $2,515,000. 97.76% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Chord Energy

In other news, CAO Shannon Browning Kinney sold 1,000 shares of Chord Energy stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $121.27, for a total value of $121,270.00. Following the completion of the transaction, the chief accounting officer now owns 20,488 shares in the company, valued at approximately $2,484,579.76. This trade represents a 4.65 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.70% of the stock is currently owned by corporate insiders.

Chord Energy Stock Down 1.7 %

Chord Energy stock opened at $124.18 on Wednesday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.89 and a current ratio of 0.93. The firm has a 50 day moving average price of $122.16 and a 200 day moving average price of $137.09. Chord Energy Co. has a fifty-two week low of $109.59 and a fifty-two week high of $190.23. The company has a market capitalization of $7.59 billion, a PE ratio of 6.39, a price-to-earnings-growth ratio of 6.18 and a beta of 0.99.

Chord Energy (NASDAQ:CHRD) last issued its quarterly earnings results on Wednesday, November 6th. The company reported $3.40 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.63 by ($0.23). Chord Energy had a return on equity of 12.88% and a net margin of 19.74%. The business had revenue of $1.12 billion for the quarter, compared to analysts’ expectations of $1.26 billion. During the same quarter last year, the company earned $5.04 earnings per share. The firm’s revenue for the quarter was up 33.4% on a year-over-year basis. Research analysts expect that Chord Energy Co. will post 15.72 earnings per share for the current year.

Chord Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Wednesday, November 27th were issued a dividend of $1.25 per share. The ex-dividend date was Wednesday, November 27th. This represents a $5.00 dividend on an annualized basis and a yield of 4.03%. Chord Energy’s dividend payout ratio (DPR) is presently 25.75%.

Analyst Upgrades and Downgrades

CHRD has been the topic of several recent research reports. Royal Bank of Canada lowered their target price on Chord Energy from $185.00 to $180.00 and set an “outperform” rating on the stock in a report on Wednesday, November 20th. BMO Capital Markets dropped their target price on Chord Energy from $205.00 to $175.00 and set an “outperform” rating for the company in a report on Friday, October 4th. Mizuho reduced their price target on Chord Energy from $192.00 to $178.00 and set an “outperform” rating on the stock in a report on Monday, December 16th. Siebert Williams Shank raised shares of Chord Energy to a “strong-buy” rating in a report on Tuesday, October 15th. Finally, Bank of America reaffirmed a “neutral” rating and set a $138.00 target price (down from $208.00) on shares of Chord Energy in a research note on Monday, January 13th. Three equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $173.08.

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.