KBC Group NV Has $6.54 Million Position in Chord Energy Co. (NASDAQ:CHRD)

KBC Group NV boosted its stake in Chord Energy Co. (NASDAQ:CHRD) by 23.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 55,973 shares of the company’s stock after purchasing an additional 10,655 shares during the quarter. KBC Group NV owned about 0.09% of Chord Energy worth $6,544,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Hexagon Capital Partners LLC grew its stake in shares of Chord Energy by 462.9% in the 3rd quarter. Hexagon Capital Partners LLC now owns 197 shares of the company’s stock valued at $26,000 after buying an additional 162 shares during the period. Stone House Investment Management LLC acquired a new stake in Chord Energy in the third quarter valued at approximately $26,000. UMB Bank n.a. increased its holdings in shares of Chord Energy by 77.7% during the third quarter. UMB Bank n.a. now owns 231 shares of the company’s stock valued at $30,000 after acquiring an additional 101 shares in the last quarter. Brooklyn Investment Group acquired a new position in shares of Chord Energy during the fourth quarter worth approximately $29,000. Finally, Spartan Fund Management Inc. bought a new position in shares of Chord Energy in the 3rd quarter worth $34,000. 97.76% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

CHRD has been the subject of a number of recent research reports. Wolfe Research upgraded shares of Chord Energy from a “peer perform” rating to an “outperform” rating and set a $155.00 price target for the company in a research note on Friday, January 3rd. UBS Group lowered their target price on shares of Chord Energy from $168.00 to $161.00 and set a “buy” rating on the stock in a report on Monday, December 9th. Truist Financial lifted their price target on Chord Energy from $185.00 to $186.00 and gave the company a “buy” rating in a research note on Monday, January 13th. Piper Sandler lowered their price objective on Chord Energy from $194.00 to $193.00 and set an “overweight” rating for the company in a research note on Wednesday, January 15th. Finally, Morgan Stanley started coverage on Chord Energy in a research report on Friday, January 10th. They set an “equal weight” rating and a $158.00 target price on the stock. Three investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $173.08.

Chord Energy Stock Performance

Shares of CHRD stock opened at $115.70 on Friday. Chord Energy Co. has a 52 week low of $109.59 and a 52 week high of $190.23. The firm’s 50-day simple moving average is $120.45 and its two-hundred day simple moving average is $134.71. The firm has a market cap of $7.07 billion, a price-to-earnings ratio of 5.96, a P/E/G ratio of 6.35 and a beta of 0.99. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.89 and a current ratio of 0.93.

Chord Energy (NASDAQ:CHRD) last posted 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 firm had revenue of $1.12 billion during the quarter, compared to analysts’ expectations of $1.26 billion. During the same quarter in the previous year, the company posted $5.04 EPS. Chord Energy’s revenue for the quarter was up 33.4% on a year-over-year basis. As a group, equities analysts forecast that Chord Energy Co. will post 15.59 earnings per share for the current year.

Chord Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Wednesday, November 27th were paid a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a yield of 4.32%. The ex-dividend date of this dividend was Wednesday, November 27th. Chord Energy’s dividend payout ratio is currently 25.75%.

Insider Buying and Selling at Chord Energy

In other Chord Energy news, CAO Shannon Browning Kinney sold 1,000 shares of the business’s 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 sale, the chief accounting officer now owns 19,488 shares of the company’s stock, valued at $2,267,428.80. The trade was a 4.88 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.70% of the company’s stock.

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.