Jennison Associates LLC Has $62.09 Million Stock Holdings in Chord Energy Co. (NASDAQ:CHRD)

Jennison Associates LLC lessened its holdings in Chord Energy Co. (NASDAQ:CHRD) by 53.4% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 373,494 shares of the company’s stock after selling 428,681 shares during the quarter. Jennison Associates LLC’s holdings in Chord Energy were worth $62,086,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Vest Financial LLC boosted its position in Chord Energy by 36.0% during the fourth quarter. Vest Financial LLC now owns 79,293 shares of the company’s stock valued at $13,181,000 after purchasing an additional 20,995 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its position in shares of Chord Energy by 12.3% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 491,737 shares of the company’s stock worth $81,742,000 after buying an additional 53,992 shares during the last quarter. Natixis Advisors L.P. lifted its position in shares of Chord Energy by 68.5% in the third quarter. Natixis Advisors L.P. now owns 38,458 shares of the company’s stock worth $6,233,000 after buying an additional 15,632 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of Chord Energy by 0.5% in the third quarter. Vanguard Group Inc. now owns 4,351,393 shares of the company’s stock worth $705,230,000 after buying an additional 21,034 shares during the last quarter. Finally, Invesco Ltd. lifted its position in shares of Chord Energy by 7.9% in the third quarter. Invesco Ltd. now owns 444,627 shares of the company’s stock worth $72,061,000 after buying an additional 32,429 shares during the last quarter. Institutional investors and hedge funds own 97.76% of the company’s stock.

Analyst Ratings Changes

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

Insider Activity

In related news, CFO Michael H. Lou sold 3,000 shares of the stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $165.00, for a total transaction of $495,000.00. Following the sale, the chief financial officer now directly owns 128,209 shares in the company, valued at approximately $21,154,485. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.70% of the company’s stock.

Chord Energy Trading Up 0.6 %

CHRD stock opened at $183.12 on Wednesday. Chord Energy Co. has a 1-year low of $133.34 and a 1-year high of $190.23. The firm has a market cap of $7.61 billion, a P/E ratio of 7.78 and a beta of 1.06. The business’s 50 day moving average is $171.02 and its 200-day moving average is $164.85. The company has a current ratio of 1.22, a quick ratio of 1.16 and a debt-to-equity ratio of 0.08.

Chord Energy (NASDAQ:CHRD) last released its quarterly earnings data 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 return on equity of 16.35% and a net margin of 26.27%. The company had revenue of $964.69 million for the quarter, compared to analyst estimates of $891.67 million. Equities analysts anticipate that Chord Energy Co. will post 21.6 earnings per share for the current fiscal year.

Chord Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 19th. Stockholders of record on Tuesday, March 5th were paid a $3.25 dividend. This is a positive change from Chord Energy’s previous quarterly dividend of $1.25. This represents a $13.00 annualized dividend and a dividend yield of 7.10%. The ex-dividend date of this dividend was Monday, March 4th. Chord Energy’s dividend payout ratio is currently 21.25%.

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.