American International Group Inc. Has $13.36 Million Stock Position in Chord Energy Co. (NASDAQ:CHRD)

American International Group Inc. trimmed its stake in shares of Chord Energy Co. (NASDAQ:CHRD) by 1.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 74,940 shares of the company’s stock after selling 1,296 shares during the quarter. American International Group Inc. owned 0.18% of Chord Energy worth $13,357,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Rise Advisors LLC acquired a new stake in Chord Energy during the first quarter valued at approximately $31,000. SRS Capital Advisors Inc. boosted its holdings in shares of Chord Energy by 306.9% in the 4th quarter. SRS Capital Advisors Inc. now owns 293 shares of the company’s stock worth $49,000 after acquiring an additional 221 shares in the last quarter. Lindbrook Capital LLC boosted its holdings in shares of Chord Energy by 67.6% in the 4th quarter. Lindbrook Capital LLC now owns 305 shares of the company’s stock worth $51,000 after acquiring an additional 123 shares in the last quarter. Viking Fund Management LLC boosted its holdings in shares of Chord Energy by 40.0% in the 4th quarter. Viking Fund Management LLC now owns 350 shares of the company’s stock worth $58,000 after acquiring an additional 100 shares in the last quarter. Finally, Quadrant Capital Group LLC boosted its holdings in shares of Chord Energy by 94.3% in the 4th quarter. Quadrant Capital Group LLC now owns 406 shares of the company’s stock worth $67,000 after acquiring an additional 197 shares in the last quarter. 97.76% of the stock is owned by institutional investors and hedge funds.

Chord Energy Stock Up 2.0 %

NASDAQ CHRD traded up $3.34 on Thursday, reaching $174.12. The company had a trading volume of 307,443 shares, compared to its average volume of 915,211. The firm has a market capitalization of $7.26 billion, a price-to-earnings ratio of 8.01, a price-to-earnings-growth ratio of 0.96 and a beta of 1.01. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.07 and a current ratio of 1.14. Chord Energy Co. has a 1-year low of $148.32 and a 1-year high of $190.23. The company’s fifty day moving average is $172.72 and its 200-day moving average is $169.74.

Chord Energy (NASDAQ:CHRD) last posted its quarterly earnings data on Tuesday, May 7th. The company reported $5.10 EPS for the quarter, topping analysts’ consensus estimates of $4.75 by $0.35. Chord Energy had a net margin of 22.67% and a return on equity of 16.57%. The company had revenue of $1.09 billion during the quarter, compared to the consensus estimate of $771.87 million. During the same period in the prior year, the business posted $4.50 EPS. The company’s quarterly revenue was up 24.8% on a year-over-year basis. On average, research analysts forecast that Chord Energy Co. will post 20.85 earnings per share for the current fiscal year.

Chord Energy Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 5th. Stockholders of record on Wednesday, May 22nd were paid a dividend of $2.94 per share. The ex-dividend date was Tuesday, May 21st. This represents a $11.76 dividend on an annualized basis and a dividend yield of 6.75%. Chord Energy’s dividend payout ratio is 23.46%.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Mizuho boosted their target price on Chord Energy from $195.00 to $214.00 and gave the stock a “buy” rating in a report on Monday, May 13th. Citigroup began coverage on Chord Energy in a report on Monday, July 1st. They set a “buy” rating and a $195.00 price objective on the stock. Piper Sandler upped their price objective on Chord Energy from $233.00 to $234.00 and gave the stock an “overweight” rating in a report on Thursday, July 18th. BMO Capital Markets began coverage on Chord Energy in a report on Monday, June 3rd. They set an “outperform” rating and a $230.00 price objective on the stock. Finally, Bank of America reiterated a “buy” rating and set a $201.00 target price on shares of Chord Energy in a research report on Friday, June 14th. One research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, Chord Energy currently has an average rating of “Moderate Buy” and a consensus target price of $210.78.

Chord Energy 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.