Principal Financial Group Inc. Sells 23,821 Shares of Chord Energy Co. (NASDAQ:CHRD)

Principal Financial Group Inc. decreased its holdings in shares of Chord Energy Co. (NASDAQ:CHRD - Free Report) by 4.7% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 485,514 shares of the company's stock after selling 23,821 shares during the quarter. Principal Financial Group Inc. owned 0.79% of Chord Energy worth $63,229,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Victory Capital Management Inc. lifted its position in shares of Chord Energy by 41.3% in the third 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 in the last quarter. Geode Capital Management LLC increased its stake in Chord Energy by 3.0% in the 3rd quarter. Geode Capital Management LLC now owns 1,162,442 shares of the company's stock valued at $151,077,000 after buying an additional 34,156 shares during the period. Bank of Montreal Can lifted its position in Chord Energy by 956.5% in the 2nd quarter. Bank of Montreal Can now owns 58,359 shares of the company's stock worth $9,873,000 after buying an additional 52,835 shares in the last quarter. Foundry Partners LLC grew its holdings in shares of 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 position in Chord Energy in the 2nd quarter worth about $2,515,000. 97.76% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CHRD has been the topic of a number of research reports. Royal Bank of Canada dropped their price objective on Chord Energy from $185.00 to $180.00 and set an "outperform" rating on the stock in a report on Wednesday, November 20th. Siebert Williams Shank upgraded shares of Chord Energy to a "strong-buy" rating in a research note on Tuesday, October 15th. Jefferies Financial Group assumed coverage on shares of Chord Energy in a research note on Thursday, September 5th. They issued a "hold" rating and a $160.00 price objective for the company. Wells Fargo & Company upped their price objective on shares of Chord Energy from $175.00 to $176.00 and gave the stock an "overweight" rating in a report on Tuesday, December 17th. Finally, Truist Financial cut their target price on Chord Energy from $223.00 to $185.00 and set a "buy" rating on the stock in a report on Monday, September 30th. Two analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Chord Energy has an average rating of "Moderate Buy" and a consensus target price of $182.55.

Chord Energy Stock Performance

NASDAQ:CHRD traded up $0.42 during mid-day trading on Friday, hitting $110.83. 2,990,997 shares of the company's stock traded hands, compared to its average volume of 899,956. The firm has a market capitalization of $6.78 billion, a price-to-earnings ratio of 5.71, a price-to-earnings-growth ratio of 4.79 and a beta of 0.96. The firm has a 50 day moving average of $125.72 and a two-hundred day moving average of $144.22. The company has a current ratio of 0.93, a quick ratio of 0.89 and a debt-to-equity ratio of 0.10. Chord Energy Co. has a 12 month low of $109.71 and a 12 month high of $190.23.

Chord Energy (NASDAQ:CHRD - Get Free Report) last posted its quarterly earnings data on Wednesday, November 6th. The company reported $3.40 earnings per share for the quarter, missing the consensus estimate of $3.63 by ($0.23). Chord Energy had a net margin of 19.74% and a return on equity of 12.88%. The business had revenue of $1.12 billion during the quarter, compared to the consensus estimate of $1.26 billion. During the same period in the prior year, the company posted $5.04 earnings per share. The firm's revenue was up 33.4% compared to the same quarter last year. On average, equities analysts forecast that Chord Energy Co. will post 16.5 earnings per share for the current fiscal year.

Chord Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Stockholders 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 annualized dividend and a dividend yield of 4.51%. Chord Energy's payout ratio is 25.75%.

Insider Transactions at Chord Energy

In other news, CAO Shannon Browning Kinney sold 1,000 shares of the firm's stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $116.35, for a total transaction of $116,350.00. Following the completion of the transaction, the chief accounting officer now directly owns 19,488 shares of the company's stock, valued at approximately $2,267,428.80. This trade represents a 4.88 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through 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.