AIA Group Ltd Buys New Shares in Chord Energy Co. (NASDAQ:CHRD)

AIA Group Ltd purchased a new stake in shares of Chord Energy Co. (NASDAQ:CHRD) in the 4th quarter, HoldingsChannel.com reports. The firm purchased 5,424 shares of the company’s stock, valued at approximately $902,000.

Several other institutional investors also recently added to or reduced their stakes in CHRD. FinTrust Capital Advisors LLC bought a new position in Chord Energy during the fourth quarter valued at about $28,000. Contravisory Investment Management Inc. grew its position in Chord Energy by 48.9% during the fourth quarter. Contravisory Investment Management Inc. now owns 259 shares of the company’s stock valued at $43,000 after buying an additional 85 shares during the period. Rockefeller Capital Management L.P. bought a new position in Chord Energy during the fourth quarter valued at about $48,000. Viking Fund Management LLC grew its position in Chord Energy by 40.0% during the fourth quarter. Viking Fund Management LLC now owns 350 shares of the company’s stock valued at $58,000 after buying an additional 100 shares during the period. Finally, PNC Financial Services Group Inc. bought a new position in Chord Energy during the fourth quarter valued at about $68,000. Institutional investors own 97.76% of the company’s stock.

Analyst Ratings Changes

CHRD has been the topic of several recent research reports. Truist Financial dropped their price objective on shares of Chord Energy from $229.00 to $224.00 and set a “buy” rating on the stock in a report on Friday, April 5th. Mizuho upped their price objective on shares of Chord Energy from $189.00 to $195.00 and gave the company a “buy” rating in a report on Thursday, March 14th. Bank of America downgraded shares of Chord Energy from a “buy” rating to an “underperform” rating and dropped their price objective for the company from $177.00 to $165.00 in a report on Friday, January 5th. Stifel Nicolaus upped their price objective on shares of Chord Energy from $178.00 to $211.00 and gave the company a “buy” rating in a report on Tuesday, February 27th. Finally, Piper Sandler upped their price objective on shares of Chord Energy from $219.00 to $230.00 and gave the company an “overweight” rating in a report on Friday. One analyst has rated the stock with a sell rating, one has issued a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, Chord Energy currently has a consensus rating of “Moderate Buy” and a consensus price target of $191.50.

Chord Energy Trading Up 0.8 %

Shares of Chord Energy stock opened at $180.00 on Friday. Chord Energy Co. has a 12-month low of $133.34 and a 12-month high of $190.23. The company has a market cap of $7.48 billion, a price-to-earnings ratio of 7.65 and a beta of 1.06. 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 company’s 50-day moving average price is $170.56 and its 200-day moving average price is $164.54.

Chord Energy (NASDAQ:CHRD) last announced its quarterly earnings results on Wednesday, February 21st. The company reported $5.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $891.67 million. On average, equities analysts expect that Chord Energy Co. will post 21.71 earnings per share for the current fiscal year.

Chord Energy Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 19th. Stockholders of record on Tuesday, March 5th were issued a $3.25 dividend. This represents a $13.00 dividend on an annualized basis and a dividend yield of 7.22%. This is an increase from Chord Energy’s previous quarterly dividend of $1.25. The ex-dividend date of this dividend was Monday, March 4th. Chord Energy’s dividend payout ratio is presently 21.25%.

Insider Transactions at Chord Energy

In related news, CFO Michael H. Lou sold 3,000 shares of the firm’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $165.00, for a total value of $495,000.00. Following the sale, the chief financial officer now directly owns 128,209 shares of the company’s stock, valued at $21,154,485. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.70% of the company’s stock.

About Chord Energy

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.