Copeland Capital Management LLC Reduces Holdings in Chord Energy Co. (NASDAQ:CHRD)

Copeland Capital Management LLC cut its stake in shares of Chord Energy Co. (NASDAQ:CHRD - Free Report) by 99.7% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,264 shares of the company's stock after selling 432,485 shares during the period. Copeland Capital Management LLC's holdings in Chord Energy were worth $148,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of CHRD. Pacer Advisors Inc. increased its position in Chord Energy by 8,762.1% during the third quarter. Pacer Advisors Inc. now owns 1,245,034 shares of the company's stock worth $162,141,000 after buying an additional 1,230,985 shares during the last quarter. Victory Capital Management Inc. boosted its stake in shares of 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 acquiring an additional 656,374 shares during the period. Point72 Asset Management L.P. increased its holdings in shares of Chord Energy by 143.8% during the 3rd quarter. Point72 Asset Management L.P. now owns 880,787 shares of the company's stock worth $114,705,000 after acquiring an additional 519,547 shares during the last quarter. Captrust Financial Advisors boosted its holdings in shares of Chord Energy by 721.9% during the 3rd quarter. Captrust Financial Advisors now owns 145,785 shares of the company's stock worth $18,986,000 after buying an additional 128,047 shares during the period. Finally, Point72 Europe London LLP grew its position in shares of Chord Energy by 270.3% in the third quarter. Point72 Europe London LLP now owns 138,295 shares of the company's stock valued at $18,010,000 after purchasing an additional 100,951 shares during the last quarter. 97.76% of the stock is currently owned by institutional investors.

Chord Energy Trading Down 2.2 %

Shares of Chord Energy stock traded down $2.48 during midday trading on Thursday, reaching $108.27. 744,342 shares of the company's stock traded hands, compared to its average volume of 741,596. The company has a market cap of $6.62 billion, a PE ratio of 5.58, a price-to-earnings-growth ratio of 5.67 and a beta of 0.98. The stock has a 50 day moving average of $118.99 and a 200-day moving average of $132.61. Chord Energy Co. has a 12 month low of $107.24 and a 12 month high of $190.23. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.89 and a current ratio of 0.93.

Chord Energy (NASDAQ:CHRD - Get Free Report) last announced its earnings results on Wednesday, November 6th. The company reported $3.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.63 by ($0.23). The firm had revenue of $1.12 billion during the quarter, compared to the consensus estimate of $1.26 billion. Chord Energy had a return on equity of 12.88% and a net margin of 19.74%. The firm's revenue was up 33.4% on a year-over-year basis. During the same period in the prior year, the company posted $5.04 EPS. As a group, equities analysts expect that Chord Energy Co. will post 15.59 EPS for the current fiscal year.

Chord Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Wednesday, November 27th were issued a $1.25 dividend. This represents a $5.00 annualized dividend and a yield of 4.62%. The ex-dividend date was Wednesday, November 27th. Chord Energy's dividend payout ratio is currently 25.75%.

Insider Activity at Chord Energy

In other Chord Energy news, CAO Shannon Browning Kinney sold 1,000 shares of Chord Energy stock in a transaction on Monday, December 16th. The shares were sold at an average price of $116.35, for a total value of $116,350.00. Following the sale, the chief accounting officer now directly owns 19,488 shares in the company, valued at approximately $2,267,428.80. The trade was a 4.88 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.70% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on CHRD shares. UBS Group decreased their price target on shares of Chord Energy from $168.00 to $161.00 and set a "buy" rating on the stock in a research note on Monday, December 9th. Mizuho dropped their price target on shares of Chord Energy from $192.00 to $178.00 and set an "outperform" rating for the company in a research report on Monday, December 16th. Morgan Stanley assumed coverage on Chord Energy in a research report on Friday, January 10th. They set an "equal weight" rating and a $158.00 price target on the stock. Wolfe Research raised Chord Energy from a "peer perform" rating to an "outperform" rating and set a $155.00 price objective for the company in a report on Friday, January 3rd. Finally, Siebert Williams Shank raised Chord Energy to a "strong-buy" rating in a report on Tuesday, October 15th. Three investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $173.08.

Chord Energy Company 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.