AIA Group Ltd Invests $902,000 in Chord Energy Co. (NASDAQ:CHRD)

AIA Group Ltd acquired a new position in shares of Chord Energy Co. (NASDAQ:CHRD) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 5,424 shares of the company’s stock, valued at approximately $902,000.

Other large investors also recently made changes to their positions in the company. Vest Financial LLC grew its position in Chord Energy by 36.0% in the fourth quarter. Vest Financial LLC now owns 79,293 shares of the company’s stock valued at $13,181,000 after purchasing an additional 20,995 shares in the last quarter. Allspring Global Investments Holdings LLC grew its position in Chord Energy by 12.3% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 491,737 shares of the company’s stock valued at $81,742,000 after purchasing an additional 53,992 shares in the last quarter. Natixis Advisors L.P. grew its position in Chord Energy by 68.5% in the third quarter. Natixis Advisors L.P. now owns 38,458 shares of the company’s stock valued at $6,233,000 after purchasing an additional 15,632 shares in the last quarter. Vanguard Group Inc. grew its position in Chord Energy by 0.5% in the third quarter. Vanguard Group Inc. now owns 4,351,393 shares of the company’s stock valued at $705,230,000 after purchasing an additional 21,034 shares in the last quarter. Finally, Invesco Ltd. grew its position in Chord Energy by 7.9% in the third quarter. Invesco Ltd. now owns 444,627 shares of the company’s stock valued at $72,061,000 after purchasing an additional 32,429 shares in the last quarter. Institutional investors own 97.76% of the company’s stock.

Insider Transactions at Chord Energy

In other news, CFO Michael H. Lou sold 3,000 shares of the firm’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $165.00, for a total transaction of $495,000.00. Following the completion of the sale, the chief financial officer now owns 128,209 shares in the company, valued at approximately $21,154,485. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 0.70% of the stock is currently owned by corporate insiders.

Chord Energy Stock Performance

NASDAQ CHRD opened at $180.00 on Friday. The firm has a 50-day moving average of $170.56 and a 200-day moving average of $164.54. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.16 and a current ratio of 1.22. The stock has a market cap of $7.48 billion, a PE ratio of 7.65 and a beta of 1.06. Chord Energy Co. has a 52-week low of $133.34 and a 52-week high of $190.23.

Chord Energy (NASDAQ:CHRD) last posted its earnings results on Wednesday, February 21st. The company reported $5.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.04 by $0.21. The company had revenue of $964.69 million during the quarter, compared to analysts’ expectations of $891.67 million. Chord Energy had a net margin of 26.27% and a return on equity of 16.35%. On average, sell-side analysts anticipate that Chord Energy Co. will post 21.71 EPS for the current year.

Chord Energy Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 19th. Stockholders of record on Tuesday, March 5th were paid a dividend of $3.25 per share. This represents a $13.00 dividend on an annualized basis and a dividend yield of 7.22%. The ex-dividend date was Monday, March 4th. This is a boost from Chord Energy’s previous quarterly dividend of $1.25. Chord Energy’s dividend payout ratio (DPR) is currently 21.25%.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on CHRD shares. Stifel Nicolaus raised their target price on shares of Chord Energy from $178.00 to $211.00 and gave the company a “buy” rating in a research report on Tuesday, February 27th. Mizuho raised their target price on shares of Chord Energy from $189.00 to $195.00 and gave the company a “buy” rating in a research report on Thursday, March 14th. Bank of America cut shares of Chord Energy from a “buy” rating to an “underperform” rating and cut their price target for the company from $177.00 to $165.00 in a research note on Friday, January 5th. Piper Sandler increased their price target on shares of Chord Energy from $219.00 to $230.00 and gave the company an “overweight” rating in a research note on Friday. Finally, Truist Financial cut their price target on shares of Chord Energy from $229.00 to $224.00 and set a “buy” rating for the company in a research note on Friday, April 5th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Chord Energy presently has a consensus rating of “Moderate Buy” and a consensus target price of $191.50.

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.