Truist Financial Corp Buys 2,183 Shares of Chord Energy Co. (NASDAQ:CHRD)

Truist Financial Corp grew its stake in Chord Energy Co. (NASDAQ:CHRD) by 8.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 29,125 shares of the company’s stock after acquiring an additional 2,183 shares during the period. Truist Financial Corp owned 0.07% of Chord Energy worth $4,841,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. Contravisory Investment Management Inc. raised its position in Chord Energy by 48.9% in the 4th quarter. Contravisory Investment Management Inc. now owns 259 shares of the company’s stock worth $43,000 after purchasing an additional 85 shares during the last quarter. Lindbrook Capital LLC boosted its stake in Chord Energy by 67.6% during the 4th quarter. Lindbrook Capital LLC now owns 305 shares of the company’s stock worth $51,000 after acquiring an additional 123 shares during the last quarter. Viking Fund Management LLC grew its holdings in Chord Energy by 40.0% during the fourth quarter. Viking Fund Management LLC now owns 350 shares of the company’s stock valued at $58,000 after purchasing an additional 100 shares during the period. Fifth Third Bancorp increased its stake in Chord Energy by 15.4% in the third quarter. Fifth Third Bancorp now owns 526 shares of the company’s stock valued at $85,000 after purchasing an additional 70 shares in the last quarter. Finally, Daiwa Securities Group Inc. acquired a new stake in Chord Energy in the fourth quarter worth $183,000. 97.76% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Chord Energy

In other news, CFO Michael H. Lou sold 3,000 shares of the stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $165.00, for a total value of $495,000.00. Following the transaction, the chief financial officer now directly owns 128,209 shares of the company’s stock, valued at $21,154,485. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.70% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on CHRD. Truist Financial lowered their price objective on shares of Chord Energy from $229.00 to $224.00 and set a “buy” rating for the company in a research report on Friday, April 5th. Royal Bank of Canada raised their price target on Chord Energy from $180.00 to $200.00 and gave the stock an “outperform” rating in a research report on Monday, April 29th. Piper Sandler boosted their price objective on Chord Energy from $219.00 to $230.00 and gave the company an “overweight” rating in a research report on Friday, April 19th. Mizuho raised their target price on shares of Chord Energy from $189.00 to $195.00 and gave the stock a “buy” rating in a report on Thursday, March 14th. Finally, Stifel Nicolaus lifted their price target on shares of Chord Energy from $178.00 to $211.00 and gave the company a “buy” rating in a research note on Tuesday, February 27th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have given a buy rating to the stock. According to MarketBeat, Chord Energy has a consensus rating of “Moderate Buy” and an average price target of $193.50.

Chord Energy Trading Up 0.4 %

Chord Energy stock opened at $175.98 on Monday. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.22 and a quick ratio of 1.16. The firm has a 50-day moving average of $174.36 and a 200-day moving average of $165.81. The company has a market cap of $7.31 billion, a price-to-earnings ratio of 7.48 and a beta of 1.07. Chord Energy Co. has a one year low of $133.61 and a one year high of $190.23.

Chord Energy (NASDAQ:CHRD) last announced its quarterly earnings data on Wednesday, February 21st. The company reported $5.25 EPS for the quarter, beating analysts’ consensus estimates of $5.04 by $0.21. The company had revenue of $964.69 million during the quarter, compared to the consensus estimate of $891.67 million. Chord Energy had a net margin of 26.27% and a return on equity of 16.35%. On average, equities analysts expect that Chord Energy Co. will post 22.03 earnings per share for the current fiscal year.

Chord Energy Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 19th. Investors of record on Tuesday, March 5th were paid a $3.25 dividend. This represents a $13.00 dividend on an annualized basis and a yield of 7.39%. The ex-dividend date of this dividend was Monday, March 4th. This is a boost from Chord Energy’s previous quarterly dividend of $1.25. Chord Energy’s dividend payout ratio is 21.25%.

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.