Boston Partners Acquires 797,402 Shares of Chord Energy Co.
In a recent announcement by the Securities and Exchange Commission (SEC), Boston Partners disclosed its acquisition of a new position in shares of Chord Energy Co. during Q4, 2020. The firm bought 797,402 shares valued at $109,332,000. As of its most recent SEC filing, Boston Partners has 1.92% ownership stake in Chord Energy.
Chord Energy is set to declare a None dividend which will be issued on May 30th to shareholders who were recorded by May 16th. The dividend will amount to $3.22 per share with an ex-dividend date on May 15th. At present, the company’s dividend payout ratio (DPR) stands at 8.41%.
In further news, Director Lynn A. Peterson recently sold 1,048 shares of Chord Energy’s stock at an average price of $140.06 per share for a total sum of $146,782.88 on February 15th. After completing the transaction she owned around 246,050 shares with an estimated value of approximately $34,461,763 said legal disclosure filing with the SEC.
Moreover, Peterson sold another portion amounting to three thousand shares on April 17th for roughly about $434820 leaving her with direct ownership over roughly two hundred thirty-eight thousand and ninety-eight shares having an approximate worth valued at approximately $34,509,924 stated another disclosure filing with the SEC.
During the past three months prior to this sale insiders have carried out seven thousand forty-eight shares valued at approximately $1,007693 in total implying insider owners currently have stakes amounting to about half percent in their holdings.
These developments suggest that Boston Partners expects growth from Chord Energy in line with their decision to acquire a significant number of its company stocks while some directors seem comparatively keen to sell their holdings.
Investors show interest in Chord Energy Co. as company declares dividend and receives positive analyst ratings
Chord Energy Co. (NASDAQ:CHRD) has caught the attention of several large investors in recent months, with Zurcher Kantonalbank Zurich Cantonalbank, MGO One Seven LLC, Mackay Shields LLC, SummerHaven Investment Management LLC and Bernzott Capital Advisors all making significant purchases during the fourth quarter of last year. Of note among these investments is the stake of $18,888,000 acquired by Mackay Shields LLC.
These investments are indicative of the growing interest in Chord Energy Co., with several analyst reports also highlighting its potential as a profitable investment opportunity. These reports have given the company an average rating of “Moderate Buy”, with seven buy ratings and one hold rating. The consensus price target for Chord Energy is currently $193.00.
The company’s performance is also attracting investor interest, with its recent declaration of a None dividend set to be paid on May 30th. Shareholders of record on May 16th will receive a dividend payout ratio (DPR) of 8.41%, representing significant returns for investors.
Shares in Chord Energy Co. opened at $133.93 on Friday, giving it a market cap of $5.58 billion and a P/E ratio of 2.25 that makes it an attractive investment choice for many investors looking for high returns.
Despite some analysts pointing out that Chord Energy missed expected earnings per share ($5.28 instead of an average estimate of $5.89) earlier this year, many analysts remain bullish about its future prospects and expect it to post earnings per share figures around the 22.48 mark for this fiscal year.
Overall, while there may be some volatility in investing in CHRD due to its beta (1.36), these recent investments and positive analyst ratings suggest that the company has strong potential for growth and profitability over time if you are willing to take some risks as a savvy investor.
