Stratos Wealth Partners LTD. Has $269,000 Position in Chord Energy Corporation (NASDAQ:CHRD)

Stratos Wealth Partners LTD. lifted its stake in Chord Energy Corporation (NASDAQ:CHRD) by 9.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,386 shares of the company’s stock after acquiring an additional 208 shares during the quarter. Stratos Wealth Partners LTD.’s holdings in Chord Energy were worth $269,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the stock. Altshuler Shaham Ltd acquired a new position in Chord Energy during the fourth quarter worth $25,000. Twin Tree Management LP acquired a new position in Chord Energy during the fourth quarter worth $33,000. Hexagon Capital Partners LLC increased its position in Chord Energy by 321.7% during the first quarter. Hexagon Capital Partners LLC now owns 447 shares of the company’s stock worth $50,000 after buying an additional 341 shares during the last quarter. Fifth Third Bancorp increased its position in Chord Energy by 195.8% during the first quarter. Fifth Third Bancorp now owns 698 shares of the company’s stock worth $79,000 after buying an additional 462 shares during the last quarter. Finally, Pilgrim Partners Asia Pte Ltd acquired a new position in Chord Energy during the fourth quarter worth $80,000. 97.76% of the stock is owned by institutional investors and hedge funds.

Chord Energy Stock Down 1.8%

NASDAQ CHRD opened at $102.20 on Thursday. The firm has a market cap of $5.90 billion, a PE ratio of 6.84 and a beta of 0.96. Chord Energy Corporation has a one year low of $79.83 and a one year high of $181.17. The stock’s 50 day simple moving average is $98.78 and its 200 day simple moving average is $104.50. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.89 and a quick ratio of 0.83.

Chord Energy (NASDAQ:CHRD) last released its quarterly earnings results on Tuesday, May 6th. The company reported $4.04 EPS for the quarter, topping analysts’ consensus estimates of $3.60 by $0.44. The business had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.07 billion. Chord Energy had a return on equity of 10.34% and a net margin of 16.15%. Chord Energy’s revenue for the quarter was up 12.0% on a year-over-year basis. During the same period in the prior year, the company earned $5.10 EPS. As a group, sell-side analysts forecast that Chord Energy Corporation will post 15.59 earnings per share for the current fiscal year.

Chord Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 9th. Investors of record on Wednesday, May 21st were given a $1.30 dividend. This represents a $5.20 annualized dividend and a yield of 5.09%. The ex-dividend date of this dividend was Wednesday, May 21st. Chord Energy’s dividend payout ratio (DPR) is presently 34.78%.

Insiders Place Their Bets

In related news, EVP Shannon Browning Kinney sold 3,091 shares of the business’s stock in a transaction that occurred on Thursday, May 8th. The shares were sold at an average price of $94.10, for a total value of $290,863.10. Following the completion of the transaction, the executive vice president owned 21,277 shares in the company, valued at $2,002,165.70. The trade was a 12.68% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.70% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on CHRD shares. Morgan Stanley set a $139.00 price target on Chord Energy and gave the company a “cautious” rating in a research report on Wednesday, March 26th. Royal Bank Of Canada lowered their price target on Chord Energy from $165.00 to $145.00 and set an “outperform” rating on the stock in a research report on Friday, April 11th. Bank of America lowered their price target on Chord Energy from $114.00 to $112.00 and set a “buy” rating on the stock in a research report on Friday, May 23rd. Citigroup raised their price target on Chord Energy from $120.00 to $125.00 and gave the company a “buy” rating in a research report on Wednesday, July 9th. Finally, Wells Fargo & Company raised their price target on Chord Energy from $142.00 to $143.00 and gave the company an “overweight” rating in a research report on Tuesday. One analyst has rated the stock with a sell rating, two have assigned a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $151.15.

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.