Principal Financial Group Inc. Sells 33,016 Shares of Chord Energy Corporation $CHRD

Principal Financial Group Inc. decreased its holdings in Chord Energy Corporation (NASDAQ:CHRD) by 8.6% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 352,698 shares of the company’s stock after selling 33,016 shares during the quarter. Principal Financial Group Inc. owned approximately 0.62% of Chord Energy worth $35,048,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the business. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in Chord Energy by 17.1% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 123,964 shares of the company’s stock worth $13,973,000 after buying an additional 18,137 shares in the last quarter. Focus Partners Wealth bought a new position in shares of Chord Energy in the first quarter worth about $289,000. Janney Montgomery Scott LLC lifted its position in shares of Chord Energy by 6.5% during the second quarter. Janney Montgomery Scott LLC now owns 12,142 shares of the company’s stock worth $1,176,000 after purchasing an additional 738 shares in the last quarter. Truist Financial Corp lifted its position in shares of Chord Energy by 18.4% during the second quarter. Truist Financial Corp now owns 11,038 shares of the company’s stock worth $1,069,000 after purchasing an additional 1,716 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Chord Energy by 89.6% during the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 692 shares of the company’s stock valued at $67,000 after purchasing an additional 327 shares during the last quarter. Institutional investors own 97.76% of the company’s stock.

Chord Energy Trading Down 2.6%

NASDAQ:CHRD opened at $98.47 on Friday. The company has a current ratio of 1.35, a quick ratio of 1.28 and a debt-to-equity ratio of 0.18. Chord Energy Corporation has a 1-year low of $79.83 and a 1-year high of $116.24. The firm has a market capitalization of $5.60 billion, a price-to-earnings ratio of 37.87 and a beta of 0.92. The business’s 50-day moving average price is $94.33 and its two-hundred day moving average price is $97.53.

Chord Energy (NASDAQ:CHRD) last announced its quarterly earnings results on Tuesday, November 4th. The company reported $2.35 EPS for the quarter, beating analysts’ consensus estimates of $2.24 by $0.11. The company had revenue of $1.31 billion during the quarter, compared to analysts’ expectations of $1.02 billion. Chord Energy had a return on equity of 8.27% and a net margin of 3.31%.During the same period in the prior year, the business posted $3.40 EPS. Chord Energy’s revenue was up 17.0% on a year-over-year basis. On average, equities analysts expect that Chord Energy Corporation will post 15.59 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Scotiabank restated a “sector perform” rating and issued a $114.00 price objective on shares of Chord Energy in a research report on Friday, January 16th. Citigroup downgraded Chord Energy from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $105.00 to $97.00 in a research report on Wednesday, January 14th. Wall Street Zen lowered Chord Energy from a “hold” rating to a “sell” rating in a research note on Saturday, November 1st. Weiss Ratings reissued a “hold (c-)” rating on shares of Chord Energy in a report on Wednesday, January 21st. Finally, Mizuho set a $148.00 target price on shares of Chord Energy in a research report on Friday, January 9th. Eight analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $124.67.

Chord Energy Company Profile

Chord Energy Corporation (NASDAQ: CHRD), formerly known as Oasis Petroleum Inc, is an independent exploration and production company focused on the acquisition, development and production of crude oil, natural gas and natural gas liquids. Headquartered in Houston, Texas, Chord Energy emerged from financial restructuring in early 2021 and rebranded in October 2022 to reflect its renewed strategic vision.

The company’s core operations are concentrated in two prolific U.S. resource plays: the Williston Basin across North Dakota and Montana, and the Delaware Basin spanning parts of West Texas and southeastern New Mexico.