Mutual of America Capital Management LLC Sells 1,489 Shares of Chord Energy Co. (NASDAQ:CHRD)

Mutual of America Capital Management LLC lessened its stake in shares of Chord Energy Co. (NASDAQ:CHRD) by 5.5% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 25,501 shares of the company’s stock after selling 1,489 shares during the quarter. Mutual of America Capital Management LLC owned approximately 0.06% of Chord Energy worth $4,239,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. FinTrust Capital Advisors LLC bought a new stake in shares of Chord Energy during the fourth quarter worth $28,000. Contravisory Investment Management Inc. grew its stake in shares of Chord Energy by 48.9% during the fourth quarter. Contravisory Investment Management Inc. now owns 259 shares of the company’s stock worth $43,000 after buying an additional 85 shares during the last quarter. Rockefeller Capital Management L.P. bought a new stake in shares of Chord Energy during the fourth quarter worth $48,000. Viking Fund Management LLC grew its stake in shares of Chord Energy by 40.0% in the fourth quarter. Viking Fund Management LLC now owns 350 shares of the company’s stock worth $58,000 after purchasing an additional 100 shares during the last quarter. Finally, PNC Financial Services Group Inc. bought a new stake in shares of Chord Energy in the fourth quarter worth $68,000. Institutional investors own 97.76% of the company’s stock.

Insider Activity

In other news, CFO Michael H. Lou sold 3,000 shares of the company’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 transaction, the chief financial officer now owns 128,209 shares in the company, valued at $21,154,485. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.70% of the company’s stock.

Chord Energy Price Performance

Shares of NASDAQ CHRD opened at $185.31 on Tuesday. The firm’s 50-day moving average price is $168.46 and its 200-day moving average price is $164.01. Chord Energy Co. has a 1-year low of $133.34 and a 1-year high of $190.23. The firm has a market capitalization of $7.70 billion, a P/E ratio of 7.88 and a beta of 1.06. The company has a current ratio of 1.22, a quick ratio of 1.16 and a debt-to-equity ratio of 0.08.

Chord Energy (NASDAQ:CHRD) last announced its quarterly earnings data on Wednesday, February 21st. The company reported $5.25 earnings per share for the quarter, beating the consensus estimate of $5.04 by $0.21. Chord Energy had a net margin of 26.27% and a return on equity of 16.35%. The firm had revenue of $964.69 million for the quarter, compared to analyst estimates of $891.67 million. Equities research analysts anticipate that Chord Energy Co. will post 21.97 earnings per share for the current fiscal year.

Chord Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 19th. Stockholders of record on Tuesday, March 5th were issued a dividend of $3.25 per share. The ex-dividend date was Monday, March 4th. This represents a $13.00 annualized dividend and a dividend yield of 7.02%. This is a positive change from Chord Energy’s previous quarterly dividend of $1.25. Chord Energy’s dividend payout ratio is currently 21.25%.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on CHRD shares. Piper Sandler boosted their price objective on shares of Chord Energy from $218.00 to $219.00 and gave the stock an “overweight” rating in a research note on Thursday, March 7th. Truist Financial reduced their price objective on shares of Chord Energy from $229.00 to $224.00 and set a “buy” rating on the stock in a research note on Friday, April 5th. Mizuho boosted their price objective on shares of Chord Energy from $189.00 to $195.00 and gave the stock a “buy” rating in a research note on Thursday, March 14th. Stifel Nicolaus boosted their price objective on shares of Chord Energy from $178.00 to $211.00 and gave the stock a “buy” rating in a research note on Tuesday, February 27th. Finally, Bank of America cut shares of Chord Energy from a “buy” rating to an “underperform” rating and reduced their price objective for the stock from $177.00 to $165.00 in a research note on Friday, January 5th. One equities 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. Based on data from MarketBeat, Chord Energy currently has a consensus rating of “Moderate Buy” and a consensus price target of $190.40.

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.