Benjamin Edwards Inc. Grows Stake in Chord Energy Co. (NASDAQ:CHRD)

Benjamin Edwards Inc. increased its holdings in Chord Energy Co. (NASDAQ:CHRD) by 14.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,595 shares of the company’s stock after purchasing an additional 196 shares during the period. Benjamin Edwards Inc.’s holdings in Chord Energy were worth $265,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of CHRD. Contravisory Investment Management Inc. lifted its stake in 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 purchasing an additional 85 shares in the last quarter. Lindbrook Capital LLC boosted its stake in Chord Energy by 67.6% during the fourth quarter. Lindbrook Capital LLC now owns 305 shares of the company’s stock valued at $51,000 after buying an additional 123 shares during the last quarter. Viking Fund Management LLC grew its holdings in Chord Energy by 40.0% during the 4th quarter. Viking Fund Management LLC now owns 350 shares of the company’s stock valued at $58,000 after buying an additional 100 shares in the last quarter. Fifth Third Bancorp raised its holdings in shares of Chord Energy by 15.4% during the 3rd quarter. Fifth Third Bancorp now owns 526 shares of the company’s stock worth $85,000 after acquiring an additional 70 shares in the last quarter. Finally, Daiwa Securities Group Inc. bought a new position in shares of Chord Energy during the 4th quarter valued at approximately $183,000. Hedge funds and other institutional investors own 97.76% of the company’s stock.

Insider Activity at Chord Energy

In other Chord Energy news, CFO Michael H. Lou sold 3,000 shares of the firm’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $165.00, for a total transaction of $495,000.00. Following the transaction, the chief financial officer now owns 128,209 shares of the company’s stock, valued at approximately $21,154,485. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.70% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on CHRD shares. Royal Bank of Canada boosted their price target on shares of Chord Energy from $180.00 to $200.00 and gave the stock an “outperform” rating in a research report on Monday, April 29th. Bank of America cut shares of Chord Energy from a “buy” rating to an “underperform” rating and decreased their target price for the company from $177.00 to $165.00 in a research report on Friday, January 5th. Mizuho lifted their price target on Chord Energy from $189.00 to $195.00 and gave the stock a “buy” rating in a research report on Thursday, March 14th. Piper Sandler upped their price objective on Chord Energy from $219.00 to $230.00 and gave the company an “overweight” rating in a research report on Friday, April 19th. Finally, Truist Financial dropped their target price on Chord Energy from $229.00 to $224.00 and set a “buy” rating for the company in a report on Friday, April 5th. One analyst has rated the stock with a sell rating, one has issued a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $193.50.

Chord Energy Trading Up 0.4 %

Shares of NASDAQ CHRD traded up $0.69 during mid-day trading on Friday, reaching $175.98. The company had a trading volume of 669,241 shares, compared to its average volume of 607,636. Chord Energy Co. has a 52 week low of $133.61 and a 52 week high of $190.23. The business’s 50-day moving average is $174.36 and its 200-day moving average is $165.88. The stock has a market cap of $7.31 billion, a price-to-earnings ratio of 7.48 and a beta of 1.07. 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 (NASDAQ:CHRD) last announced its quarterly earnings results on Wednesday, February 21st. The company reported $5.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.04 by $0.21. The firm had revenue of $964.69 million during the quarter, compared to analyst estimates of $891.67 million. Chord Energy had a return on equity of 16.35% and a net margin of 26.27%. Equities analysts expect that Chord Energy Co. will post 22.03 earnings per share for the current 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 paid a dividend of $3.25 per share. The ex-dividend date of this dividend was Monday, March 4th. This represents a $13.00 annualized dividend and a dividend yield of 7.39%. This is a positive change from Chord Energy’s previous quarterly dividend of $1.25. Chord Energy’s dividend payout ratio (DPR) is currently 21.25%.

Chord Energy Company Profile

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.