Franklin Resources Inc. Cuts Holdings in Chord Energy Corporation $CHRD

Franklin Resources Inc. decreased its holdings in Chord Energy Corporation (NASDAQ:CHRD) by 88.2% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 3,639 shares of the company’s stock after selling 27,305 shares during the quarter. Franklin Resources Inc.’s holdings in Chord Energy were worth $352,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of CHRD. Nuveen LLC purchased a new position in shares of Chord Energy in the 1st quarter valued at $36,837,000. HITE Hedge Asset Management LLC boosted its position in Chord Energy by 27.8% during the first quarter. HITE Hedge Asset Management LLC now owns 446,015 shares of the company’s stock valued at $50,275,000 after purchasing an additional 97,086 shares in the last quarter. Trexquant Investment LP grew its stake in Chord Energy by 176.1% in the first quarter. Trexquant Investment LP now owns 144,736 shares of the company’s stock valued at $16,315,000 after purchasing an additional 92,320 shares during the last quarter. Gotham Asset Management LLC grew its stake in Chord Energy by 864.5% in the first quarter. Gotham Asset Management LLC now owns 100,775 shares of the company’s stock valued at $11,359,000 after purchasing an additional 90,327 shares during the last quarter. Finally, AQR Capital Management LLC raised its holdings in Chord Energy by 59.8% in the first quarter. AQR Capital Management LLC now owns 236,436 shares of the company’s stock worth $26,651,000 after purchasing an additional 88,490 shares in the last quarter. Institutional investors own 97.76% of the company’s stock.

Chord Energy Trading Up 1.3%

NASDAQ CHRD opened at $98.50 on Wednesday. Chord Energy Corporation has a 12-month low of $79.83 and a 12-month high of $129.32. The company has a fifty day simple moving average of $92.49 and a two-hundred day simple moving average of $99.37. The company has a current ratio of 1.35, a quick ratio of 1.28 and a debt-to-equity ratio of 0.18. The stock has a market cap of $5.60 billion, a P/E ratio of 37.88 and a beta of 0.92.

Chord Energy (NASDAQ:CHRD) last released its earnings results on Tuesday, November 4th. The company reported $2.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.24 by $0.11. The firm had revenue of $1.31 billion for the quarter, compared to the consensus estimate of $1.02 billion. Chord Energy had a return on equity of 8.27% and a net margin of 3.31%.The firm’s revenue was up 17.0% on a year-over-year basis. During the same period in the prior year, the firm earned $3.40 EPS. On average, analysts forecast that Chord Energy Corporation 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 Friday, December 5th. Stockholders of record on Wednesday, November 19th were paid a $1.30 dividend. This represents a $5.20 annualized dividend and a dividend yield of 5.3%. The ex-dividend date was Wednesday, November 19th. Chord Energy’s dividend payout ratio (DPR) is presently 200.00%.

Insider Activity at Chord Energy

In other news, Director Samantha Holroyd bought 1,250 shares of the company’s stock in a transaction that occurred on Friday, November 7th. The shares were purchased at an average price of $85.50 per share, for a total transaction of $106,875.00. Following the completion of the transaction, the director directly owned 17,706 shares in the company, valued at approximately $1,513,863. This represents a 7.60% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.70% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on CHRD. Wall Street Zen cut shares of Chord Energy from a “hold” rating to a “sell” rating in a report on Saturday, November 1st. Piper Sandler decreased their target price on shares of Chord Energy from $167.00 to $165.00 and set an “overweight” rating for the company in a research report on Tuesday, November 18th. UBS Group lowered their target price on shares of Chord Energy from $130.00 to $123.00 and set a “buy” rating for the company in a research note on Wednesday, November 12th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $130.00 price target on shares of Chord Energy in a research report on Monday, October 6th. Finally, William Blair initiated coverage on Chord Energy in a report on Friday, November 21st. They set an “outperform” rating for the company. Eleven equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $137.69.

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.