8,355 Shares in Chord Energy Corporation $CHRD Acquired by Kestra Private Wealth Services LLC

Kestra Private Wealth Services LLC bought a new position in shares of Chord Energy Corporation (NASDAQ:CHRD) during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 8,355 shares of the company’s stock, valued at approximately $1,188,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Blue Trust Inc. increased its position in shares of Chord Energy by 22.2% during the first quarter. Blue Trust Inc. now owns 463 shares of the company’s stock worth $66,000 after acquiring an additional 84 shares during the period. SBI Securities Co. Ltd. boosted its holdings in Chord Energy by 16.5% in the fourth quarter. SBI Securities Co. Ltd. now owns 797 shares of the company’s stock valued at $74,000 after purchasing an additional 113 shares during the period. WealthCollab LLC boosted its holdings in Chord Energy by 90.6% in the second quarter. WealthCollab LLC now owns 305 shares of the company’s stock valued at $30,000 after purchasing an additional 145 shares during the period. Madison Asset Management LLC grew its stake in Chord Energy by 0.6% during the 4th quarter. Madison Asset Management LLC now owns 24,950 shares of the company’s stock worth $2,313,000 after purchasing an additional 160 shares in the last quarter. Finally, Comerica Bank grew its stake in Chord Energy by 0.8% during the 4th quarter. Comerica Bank now owns 27,088 shares of the company’s stock worth $2,511,000 after purchasing an additional 207 shares in the last quarter. Hedge funds and other institutional investors own 97.76% of the company’s stock.

Analyst Upgrades and Downgrades

CHRD has been the topic of a number of analyst reports. BMO Capital Markets reaffirmed an “outperform” rating on shares of Chord Energy in a research report on Monday. Truist Financial lowered their price objective on Chord Energy from $187.00 to $185.00 and set a “buy” rating for the company in a research report on Friday, May 8th. Weiss Ratings restated a “hold (c-)” rating on shares of Chord Energy in a research note on Friday, June 12th. Morgan Stanley reduced their target price on shares of Chord Energy from $175.00 to $169.00 and set an “overweight” rating on the stock in a report on Monday. Finally, Citigroup lifted their price target on shares of Chord Energy from $120.00 to $155.00 and gave the stock a “neutral” rating in a research note on Tuesday, March 31st. Eleven research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $157.08.

Insider Buying and Selling

In other news, Director Douglas E. Brooks sold 1,500 shares of the business’s stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $138.57, for a total transaction of $207,855.00. Following the completion of the sale, the director owned 18,705 shares in the company, valued at approximately $2,591,951.85. The trade was a 7.42% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Darrin J. Henke sold 1,276 shares of the company’s stock in a transaction on Friday, May 15th. The shares were sold at an average price of $145.97, for a total transaction of $186,257.72. Following the completion of the transaction, the chief operating officer owned 21,157 shares of the company’s stock, valued at approximately $3,088,287.29. The trade was a 5.69% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 9,276 shares of company stock worth $1,285,968. 0.79% of the stock is owned by corporate insiders.

Chord Energy Trading Down 1.5%

NASDAQ:CHRD opened at $114.25 on Wednesday. Chord Energy Corporation has a 1 year low of $84.25 and a 1 year high of $151.95. The stock has a market cap of $6.43 billion, a P/E ratio of -101.11 and a beta of 0.48. 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 stock has a 50-day simple moving average of $135.21 and a 200-day simple moving average of $118.65.

Chord Energy (NASDAQ:CHRD) last issued its earnings results on Tuesday, May 5th. The company reported $4.56 earnings per share for the quarter, topping the consensus estimate of $3.51 by $1.05. The business had revenue of $1.67 billion for the quarter, compared to analyst estimates of $1.21 billion. Chord Energy had a positive return on equity of 7.06% and a negative net margin of 1.25%.The business’s quarterly revenue was up 37.1% on a year-over-year basis. During the same quarter last year, the company earned $4.04 EPS. As a group, analysts anticipate that Chord Energy Corporation will post 19.37 earnings per share for the current fiscal year.

Chord Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 5th. Shareholders of record on Wednesday, May 20th were issued a dividend of $1.30 per share. The ex-dividend date of this dividend was Wednesday, May 20th. This represents a $5.20 dividend on an annualized basis and a yield of 4.6%. Chord Energy’s dividend payout ratio (DPR) is presently -460.18%.

Chord Energy Company 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.