Stegent Equity Advisors Inc. purchased a new stake in Chord Energy Corporation (NASDAQ:CHRD – Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 7,998 shares of the company’s stock, valued at approximately $1,137,000.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. WealthCollab LLC boosted its stake in shares of Chord Energy by 90.6% during the 2nd quarter. WealthCollab LLC now owns 305 shares of the company’s stock worth $30,000 after buying an additional 145 shares during the last quarter. Rockefeller Capital Management L.P. increased its position in shares of Chord Energy by 213.1% in the fourth quarter. Rockefeller Capital Management L.P. now owns 501 shares of the company’s stock valued at $47,000 after acquiring an additional 341 shares during the last quarter. TD Private Client Wealth LLC raised its holdings in Chord Energy by 360.3% during the fourth quarter. TD Private Client Wealth LLC now owns 580 shares of the company’s stock worth $54,000 after acquiring an additional 454 shares in the last quarter. Triumph Capital Management bought a new stake in Chord Energy during the third quarter worth about $56,000. Finally, Sankala Group LLC acquired a new position in Chord Energy during the fourth quarter valued at approximately $57,000. 97.76% of the stock is owned by institutional investors.
Chord Energy Trading Down 2.3%
Shares of NASDAQ:CHRD opened at $111.63 on Thursday. Chord Energy Corporation has a 52-week low of $84.25 and a 52-week high of $151.95. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.96 and a current ratio of 1.02. The company has a market capitalization of $6.28 billion, a P/E ratio of -98.79 and a beta of 0.50. The company has a 50-day simple moving average of $134.90 and a 200 day simple moving average of $118.74.
Chord Energy Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Friday, June 5th. Stockholders of record on Wednesday, May 20th were paid a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a dividend yield of 4.7%. The ex-dividend date was Wednesday, May 20th. Chord Energy’s payout ratio is currently -460.18%.
Analysts Set New Price Targets
CHRD has been the subject of a number of analyst reports. Truist Financial decreased their price target on Chord Energy from $187.00 to $185.00 and set a “buy” rating for the company in a research note on Friday, May 8th. UBS Group upped their price objective on Chord Energy from $176.00 to $179.00 and gave the stock a “buy” rating in a research note on Thursday, May 7th. Piper Sandler increased their price objective on Chord Energy from $158.00 to $190.00 and gave the company an “overweight” rating in a report on Thursday, March 12th. Morgan Stanley decreased their target price on shares of Chord Energy from $175.00 to $169.00 and set an “overweight” rating for the company in a research note on Monday. Finally, Mizuho boosted their target price on shares of Chord Energy from $164.00 to $175.00 and gave the stock an “outperform” rating in a report on Wednesday, May 27th. Eleven equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $157.08.
View Our Latest Stock Analysis on Chord Energy
Insider Buying and Selling
In other Chord Energy news, Director Douglas E. Brooks sold 3,500 shares of the firm’s stock in a transaction on Friday, May 8th. The stock was sold at an average price of $136.71, for a total transaction of $478,485.00. Following the completion of the sale, the director owned 20,205 shares of the company’s stock, valued at $2,762,225.55. This trade represents a 14.76% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Darrin J. Henke sold 1,276 shares of Chord Energy stock in a transaction on Friday, May 15th. The stock was sold at an average price of $145.97, for a total transaction of $186,257.72. Following the transaction, the chief operating officer directly owned 21,157 shares of the company’s stock, valued at approximately $3,088,287.29. This trade represents a 5.69% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 9,276 shares of company stock worth $1,285,968 over the last three months. 0.79% of the stock is owned by insiders.
Chord Energy Profile
Chord Energy Corporation (NASDAQ: CHRD), formerly known as Oasis Petroleum Inc, is an independent exploration and production company focused on the acquisition, development and production of crude oil, natural gas and natural gas liquids. Headquartered in Houston, Texas, Chord Energy emerged from financial restructuring in early 2021 and rebranded in October 2022 to reflect its renewed strategic vision.
The company’s core operations are concentrated in two prolific U.S. resource plays: the Williston Basin across North Dakota and Montana, and the Delaware Basin spanning parts of West Texas and southeastern New Mexico.
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