Principal Financial Group Inc. Reduces Holdings in Chord Energy Co. (NASDAQ:CHRD)

Principal Financial Group Inc. lowered its position in Chord Energy Co. (NASDAQ:CHRD) by 4.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 485,514 shares of the company’s stock after selling 23,821 shares during the quarter. Principal Financial Group Inc. owned about 0.79% of Chord Energy worth $63,229,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in CHRD. FMR LLC raised its position in Chord Energy by 2.2% in the 3rd quarter. FMR LLC now owns 3,420,012 shares of the company’s stock worth $445,388,000 after purchasing an additional 74,165 shares during the period. State Street Corp raised its holdings in shares of Chord Energy by 0.9% in the third quarter. State Street Corp now owns 2,485,777 shares of the company’s stock worth $323,723,000 after buying an additional 22,753 shares during the period. Victory Capital Management Inc. lifted 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 last quarter. Dimensional Fund Advisors LP boosted its holdings in Chord Energy by 72.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,771,780 shares of the company’s stock valued at $297,090,000 after acquiring an additional 741,705 shares during the period. Finally, Pacer Advisors Inc. grew its position in Chord Energy by 8,762.1% in the 3rd quarter. Pacer Advisors Inc. now owns 1,245,034 shares of the company’s stock valued at $162,141,000 after acquiring an additional 1,230,985 shares during the last quarter. Institutional investors own 97.76% of the company’s stock.

Insider Transactions at Chord Energy

In other 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 transaction of $116,350.00. Following the completion of 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.70% of the company’s stock.

Chord Energy Price Performance

CHRD opened at $110.83 on Friday. The firm has a market capitalization of $6.78 billion, a PE ratio of 5.71, a price-to-earnings-growth ratio of 4.79 and a beta of 0.96. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.93 and a quick ratio of 0.89. The business’s 50-day moving average is $125.72 and its two-hundred day moving average is $144.40. Chord Energy Co. has a 1 year low of $109.71 and a 1 year high of $190.23.

Chord Energy (NASDAQ:CHRD) last issued its quarterly earnings data on Wednesday, November 6th. The company reported $3.40 EPS 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 for the quarter, compared to analysts’ expectations of $1.26 billion. During the same quarter in the prior year, the company posted $5.04 EPS. The business’s revenue for the quarter was up 33.4% on a year-over-year basis. Research analysts anticipate that Chord Energy Co. will post 16.5 earnings per share for the current fiscal year.

Chord Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Wednesday, November 27th were issued a $1.25 dividend. This represents a $5.00 annualized dividend and a yield of 4.51%. The ex-dividend date was Wednesday, November 27th. Chord Energy’s dividend payout ratio is presently 25.75%.

Analysts Set New Price Targets

Several analysts have recently weighed in on CHRD shares. Jefferies Financial Group began coverage on shares of Chord Energy in a research note on Thursday, September 5th. They set a “hold” rating and a $160.00 target price for the company. Siebert Williams Shank raised shares of Chord Energy to a “strong-buy” rating in a research report on Tuesday, October 15th. Wells Fargo & Company raised their target price on shares of Chord Energy from $175.00 to $176.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 17th. BMO Capital Markets lowered their price target on Chord Energy from $205.00 to $175.00 and set an “outperform” rating for the company in a report on Friday, October 4th. Finally, Piper Sandler reduced their price objective on Chord Energy from $212.00 to $194.00 and set an “overweight” rating on the stock in a report on Tuesday, December 17th. Two equities research 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. According to data from MarketBeat.com, Chord Energy presently has a consensus rating of “Moderate Buy” and an average target price of $182.55.

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.