Perigon Wealth Management LLC Reduces Stake in Chord Energy Corporation $CHRD

Perigon Wealth Management LLC reduced its holdings in Chord Energy Corporation (NASDAQ:CHRD) by 17.2% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 23,852 shares of the company’s stock after selling 4,949 shares during the quarter. Perigon Wealth Management LLC’s holdings in Chord Energy were worth $2,211,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Albert D Mason Inc. boosted its holdings in Chord Energy by 17.8% in the fourth quarter. Albert D Mason Inc. now owns 9,162 shares of the company’s stock valued at $849,000 after acquiring an additional 1,384 shares in the last quarter. Triumph Capital Management purchased a new position in Chord Energy during the 3rd quarter valued at $56,000. AIA Group Ltd raised its holdings in Chord Energy by 25.1% in the 3rd quarter. AIA Group Ltd now owns 9,708 shares of the company’s stock worth $965,000 after purchasing an additional 1,949 shares in the last quarter. Allworth Financial LP lifted its position in shares of Chord Energy by 37.5% in the 3rd quarter. Allworth Financial LP now owns 906 shares of the company’s stock worth $90,000 after purchasing an additional 247 shares during the period. Finally, Swiss Life Asset Management Ltd purchased a new stake in shares of Chord Energy in the 3rd quarter worth about $260,000. Institutional investors own 97.76% of the company’s stock.

Chord Energy Stock Performance

Shares of NASDAQ CHRD opened at $142.00 on Friday. The firm’s 50 day moving average price is $115.66 and its 200-day moving average price is $101.38. The company has a market cap of $8.05 billion, a PE ratio of 225.40 and a beta of 0.66. Chord Energy Corporation has a 52-week low of $79.83 and a 52-week high of $148.41. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.98 and a current ratio of 1.06.

Chord Energy (NASDAQ:CHRD) last posted its quarterly earnings results on Wednesday, February 25th. The company reported $1.28 earnings per share for the quarter, topping the consensus estimate of $1.17 by $0.11. Chord Energy had a return on equity of 6.71% and a net margin of 0.91%.The firm had revenue of $1.17 billion during the quarter, compared to analysts’ expectations of $1.03 billion. During the same quarter in the previous year, the business earned $3.49 earnings per share. The company’s revenue was down 19.6% on a year-over-year basis. On average, equities research analysts expect that Chord Energy Corporation will post 15.59 EPS for the current fiscal year.

Chord Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 27th. Stockholders of record on Thursday, March 12th were paid a $1.30 dividend. This represents a $5.20 annualized dividend and a dividend yield of 3.7%. The ex-dividend date was Thursday, March 12th. Chord Energy’s dividend payout ratio is 825.40%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on CHRD. Wall Street Zen upgraded shares of Chord Energy from a “sell” rating to a “hold” rating in a research report on Saturday, March 28th. Jefferies Financial Group set a $99.00 price objective on shares of Chord Energy in a report on Saturday, January 17th. Piper Sandler upped their target price on Chord Energy from $158.00 to $190.00 and gave the stock an “overweight” rating in a report on Thursday, March 12th. Mizuho set a $148.00 target price on Chord Energy in a research report on Friday, January 9th. Finally, Pickering Energy Partners cut Chord Energy from an “outperform” rating to a “neutral” rating in a research note on Friday, January 9th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $141.83.

Insider Buying and Selling at Chord Energy

In other Chord Energy news, Director Douglas E. Brooks sold 2,126 shares of the stock in a transaction that occurred on Friday, March 6th. The shares were sold at an average price of $120.28, for a total value of $255,715.28. Following the transaction, the director directly owned 25,181 shares in the company, valued at approximately $3,028,770.68. This trade represents a 7.79% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Michael H. Lou sold 15,000 shares of Chord Energy stock in a transaction on Thursday, March 12th. The shares were sold at an average price of $125.47, for a total value of $1,882,050.00. Following the transaction, the executive vice president owned 82,699 shares in the company, valued at $10,376,243.53. This trade represents a 15.35% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 23,927 shares of company stock worth $2,912,028 over the last quarter. Company insiders own 0.70% of the company’s stock.

About Chord Energy

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.