Mitsubishi UFJ Trust & Banking Corp Sells 6,265 Shares of Chord Energy Corporation $CHRD

Mitsubishi UFJ Trust & Banking Corp trimmed its holdings in shares of Chord Energy Corporation (NASDAQ:CHRD) by 13.6% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 39,970 shares of the company’s stock after selling 6,265 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in Chord Energy were worth $3,705,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of CHRD. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of Chord Energy by 17.1% during the first 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 during the last quarter. Focus Partners Wealth bought a new stake in shares of Chord Energy during the first quarter worth approximately $289,000. EverSource Wealth Advisors LLC raised its stake in shares of Chord Energy by 364.2% during the second quarter. EverSource Wealth Advisors LLC now owns 1,555 shares of the company’s stock worth $151,000 after buying an additional 1,220 shares during the last quarter. Jump Financial LLC bought a new stake in shares of Chord Energy during the second quarter worth approximately $1,010,000. Finally, Gamco Investors INC. ET AL raised its stake in shares of Chord Energy by 108.5% during the second quarter. Gamco Investors INC. ET AL now owns 10,429 shares of the company’s stock worth $1,010,000 after buying an additional 5,428 shares during the last quarter. 97.76% of the stock is owned by institutional investors.

Chord Energy Price Performance

Shares of NASDAQ:CHRD opened at $145.06 on Monday. Chord Energy Corporation has a 52 week low of $84.25 and a 52 week high of $148.41. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.98 and a current ratio of 1.06. The company has a market capitalization of $8.22 billion, a PE ratio of 230.25 and a beta of 0.52. The company has a 50 day moving average price of $129.08 and a two-hundred day moving average price of $106.22.

Chord Energy (NASDAQ:CHRD) last issued its earnings results on Wednesday, February 25th. The company reported $1.28 EPS for the quarter, beating the consensus estimate of $1.17 by $0.11. Chord Energy had a net margin of 0.91% and a return on equity of 6.71%. The firm had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.03 billion. During the same quarter in the prior year, the firm earned $3.49 earnings per share. The business’s quarterly revenue was down 19.6% on a year-over-year basis. Analysts forecast that Chord Energy Corporation will post 16.94 earnings per share for the current year.

Chord Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 27th. Shareholders of record on Thursday, March 12th were paid a $1.30 dividend. This represents a $5.20 annualized dividend and a yield of 3.6%. The ex-dividend date of this dividend was Thursday, March 12th. Chord Energy’s dividend payout ratio is presently 825.40%.

Insider Activity

In other Chord Energy news, Director Douglas E. Brooks sold 2,126 shares of the company’s stock in a transaction that occurred on Friday, March 6th. The shares were sold at an average price of $120.28, for a total value of $255,715.28. Following the completion of the sale, the director owned 25,181 shares of the company’s stock, valued at approximately $3,028,770.68. This represents a 7.79% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Michael H. Lou sold 15,000 shares of the stock in a transaction on Thursday, March 12th. The stock was sold at an average price of $125.47, for a total transaction of $1,882,050.00. Following the sale, the executive vice president directly owned 82,699 shares of the company’s stock, valued at $10,376,243.53. This represents a 15.35% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 23,927 shares of company stock worth $2,912,028 over the last three months. Company insiders own 0.79% of the company’s stock.

Analysts Set New Price Targets

CHRD has been the subject of a number of recent research reports. Piper Sandler boosted their price target on shares of Chord Energy from $158.00 to $190.00 and gave the stock an “overweight” rating in a research note on Thursday, March 12th. Wells Fargo & Company boosted their price target on shares of Chord Energy from $136.00 to $175.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 8th. UBS Group boosted their price target on shares of Chord Energy from $119.00 to $142.00 and gave the stock a “buy” rating in a research note on Thursday, March 5th. Citigroup boosted their price target on shares of Chord Energy from $120.00 to $155.00 and gave the stock a “neutral” rating in a research note on Tuesday, March 31st. Finally, Zacks Research raised shares of Chord Energy from a “hold” rating to a “strong-buy” rating in a research note on Monday, April 6th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $152.23.

Chord Energy 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.