Virtu Financial LLC Trims Stake in Chord Energy Co. (NASDAQ:CHRD)

Virtu Financial LLC cut its position in Chord Energy Co. (NASDAQ:CHRD - Free Report) by 74.8% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,764 shares of the company's stock after selling 8,188 shares during the period. Virtu Financial LLC's holdings in Chord Energy were worth $360,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of CHRD. Envestnet Portfolio Solutions Inc. increased its holdings in shares of Chord Energy by 11.5% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 3,899 shares of the company's stock valued at $654,000 after acquiring an additional 403 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. purchased a new position in Chord Energy in the second quarter valued at approximately $19,532,000. Raymond James & Associates raised its holdings in Chord Energy by 77.6% during the second quarter. Raymond James & Associates now owns 140,582 shares of the company's stock worth $23,573,000 after purchasing an additional 61,442 shares in the last quarter. Hennion & Walsh Asset Management Inc. raised its holdings in Chord Energy by 98.1% during the second quarter. Hennion & Walsh Asset Management Inc. now owns 3,292 shares of the company's stock worth $552,000 after purchasing an additional 1,630 shares in the last quarter. Finally, Fifth Third Wealth Advisors LLC purchased a new stake in shares of Chord Energy during the 2nd quarter worth approximately $207,000. 97.76% of the stock is owned by hedge funds and other institutional investors.

Chord Energy Stock Performance

Shares of Chord Energy stock traded down $1.10 during trading hours on Tuesday, hitting $115.09. 826,500 shares of the company were exchanged, compared to its average volume of 891,769. The company has a current ratio of 0.93, a quick ratio of 0.89 and a debt-to-equity ratio of 0.10. The business has a 50-day moving average of $127.45 and a 200-day moving average of $146.03. Chord Energy Co. has a 1 year low of $113.58 and a 1 year high of $190.23. The stock has a market capitalization of $7.04 billion, a price-to-earnings ratio of 5.91, a P/E/G ratio of 4.79 and a beta of 0.96.

Chord Energy (NASDAQ:CHRD - Get Free Report) last announced its quarterly earnings data on Wednesday, November 6th. The company reported $3.40 EPS for the quarter, missing analysts' consensus estimates of $3.63 by ($0.23). Chord Energy had a return on equity of 12.88% and a net margin of 19.74%. The firm had revenue of $1.12 billion for the quarter, compared to analysts' expectations of $1.26 billion. During the same quarter in the previous year, the company posted $5.04 EPS. The firm's quarterly revenue was up 33.4% compared to the same quarter last year. As a group, analysts expect that Chord Energy Co. will post 16.5 EPS for the current fiscal year.

Chord Energy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Investors 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 yield of 4.34%. Chord Energy's dividend payout ratio is currently 25.75%.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the stock. Jefferies Financial Group assumed coverage on shares of Chord Energy in a research report on Thursday, September 5th. They issued a "hold" rating and a $160.00 target price on the stock. Wells Fargo & Company raised their price objective on Chord Energy from $175.00 to $176.00 and gave the stock an "overweight" rating in a report on Tuesday. Bank of America boosted their target price on Chord Energy from $201.00 to $208.00 and gave the company a "buy" rating in a report on Wednesday, August 21st. Piper Sandler decreased their target price on Chord Energy from $212.00 to $194.00 and set an "overweight" rating for the company in a research report on Tuesday. Finally, Siebert Williams Shank raised Chord Energy to a "strong-buy" rating in a research report on Tuesday, October 15th. Two equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Chord Energy presently has an average rating of "Moderate Buy" and an average price target of $182.55.

Insider Activity at Chord Energy

In other Chord Energy news, CAO Shannon Browning Kinney sold 1,000 shares of the firm's stock in a transaction on Monday, December 16th. The stock was sold at an average price of $116.35, for a total value of $116,350.00. Following the completion of the sale, the chief accounting officer now 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.70% of the stock is owned by insiders.

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.