Donald Smith & CO. Inc. Has $64.32 Million Position in Chord Energy Co. (NASDAQ:CHRD)

Donald Smith & CO. Inc. increased its holdings in Chord Energy Co. (NASDAQ:CHRD) by 0.8% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 386,938 shares of the company’s stock after purchasing an additional 3,015 shares during the period. Chord Energy makes up 1.6% of Donald Smith & CO. Inc.’s portfolio, making the stock its 27th biggest position. Donald Smith & CO. Inc. owned about 0.94% of Chord Energy worth $64,321,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CHRD. Contravisory Investment Management Inc. raised its holdings in shares of 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 buying an additional 85 shares in the last quarter. Lindbrook Capital LLC raised its stake in Chord Energy by 67.6% during the fourth 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 lifted its holdings in shares of 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 acquiring an additional 100 shares during the period. Fifth Third Bancorp boosted its stake in shares of Chord Energy by 15.4% in the 3rd 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. bought a new stake in shares of Chord Energy in the 4th quarter worth about $183,000. Institutional investors own 97.76% of the company’s stock.

Wall Street Analyst Weigh In

CHRD has been the topic of a number of recent analyst reports. Bank of America lowered shares of Chord Energy from a “buy” rating to an “underperform” rating and reduced their price target for the company from $177.00 to $165.00 in a research report on Friday, January 5th. Mizuho increased their price target on Chord Energy from $189.00 to $195.00 and gave the stock a “buy” rating in a report on Thursday, March 14th. Truist Financial dropped their price objective on shares of Chord Energy from $229.00 to $224.00 and set a “buy” rating on the stock in a report on Friday, April 5th. Royal Bank of Canada boosted their target price on Chord Energy from $180.00 to $200.00 and gave the company an “outperform” rating in a research note on Monday. Finally, Piper Sandler raised their target price on shares of Chord Energy from $219.00 to $230.00 and gave the company an “overweight” rating in a research report on Friday, April 19th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $193.50.

Chord Energy Trading Down 0.7 %

NASDAQ CHRD traded down $1.24 during trading hours on Monday, hitting $184.34. 509,182 shares of the company’s stock were exchanged, compared to its average volume of 655,834. The stock has a 50-day simple moving average of $172.98 and a 200 day simple moving average of $165.49. The firm has a market cap of $7.66 billion, a price-to-earnings ratio of 7.85 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 Co. has a 1-year low of $133.34 and a 1-year high of $190.23.

Chord Energy (NASDAQ:CHRD) last released its quarterly earnings data on Wednesday, February 21st. The company reported $5.25 earnings per share for the quarter, beating analysts’ consensus estimates of $5.04 by $0.21. The firm had revenue of $964.69 million for the quarter, compared to analyst estimates 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 forecast that Chord Energy Co. will post 22.03 EPS for the current fiscal year.

Chord Energy Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 19th. Stockholders of record on Tuesday, March 5th were given a dividend of $3.25 per share. This represents a $13.00 dividend on an annualized basis and a dividend yield of 7.05%. 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 currently 21.25%.

Insiders Place Their Bets

In other news, CFO Michael H. Lou sold 3,000 shares of the company’s stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $154.15, for a total transaction of $462,450.00. Following the sale, the chief financial officer now directly owns 131,209 shares in the company, valued at $20,225,867.35. The sale was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 0.70% of the company’s stock.

About Chord Energy

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.