Chord Energy Corporation $CHRD Shares Bought by AE Wealth Management LLC

AE Wealth Management LLC increased its position in shares of Chord Energy Corporation (NASDAQ:CHRD) by 6.4% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 23,231 shares of the company’s stock after purchasing an additional 1,406 shares during the quarter. AE Wealth Management LLC’s holdings in Chord Energy were worth $2,250,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in CHRD. Bayforest Capital Ltd bought a new stake in Chord Energy during the second quarter valued at $28,000. Caitong International Asset Management Co. Ltd boosted its holdings in shares of Chord Energy by 5,877.8% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 538 shares of the company’s stock valued at $61,000 after buying an additional 529 shares during the period. MassMutual Private Wealth & Trust FSB grew its position in shares of Chord Energy by 254.1% during the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 687 shares of the company’s stock valued at $67,000 after buying an additional 493 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in Chord Energy by 89.6% in the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 692 shares of the company’s stock worth $67,000 after acquiring an additional 327 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale boosted its stake in Chord Energy by 85.8% in the second quarter. DekaBank Deutsche Girozentrale now owns 771 shares of the company’s stock valued at $75,000 after acquiring an additional 356 shares during the period. Institutional investors and hedge funds own 97.76% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. UBS Group increased their price target on Chord Energy from $122.00 to $130.00 and gave the stock a “buy” rating in a research report on Tuesday, September 16th. Wells Fargo & Company reduced their price target on shares of Chord Energy from $149.00 to $108.00 and set an “overweight” rating for the company in a report on Friday, October 17th. Piper Sandler dropped their price objective on shares of Chord Energy from $169.00 to $167.00 and set an “overweight” rating on the stock in a report on Friday, October 3rd. Roth Capital began coverage on shares of Chord Energy in a research note on Monday, October 13th. They set a “buy” rating and a $130.00 target price for the company. Finally, Morgan Stanley decreased their target price on shares of Chord Energy from $131.00 to $128.00 and set an “equal weight” rating for the company in a research report on Tuesday, October 14th. Ten analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, Chord Energy currently has an average rating of “Moderate Buy” and an average price target of $138.38.

Insiders Place Their Bets

In other news, Director Samantha Holroyd acquired 1,250 shares of the business’s stock in a transaction that occurred on Friday, November 7th. The stock was acquired at an average cost of $85.50 per share, for a total transaction of $106,875.00. Following the completion of the acquisition, the director owned 17,706 shares in the company, valued at approximately $1,513,863. The trade was a 7.60% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Shannon Browning Kinney sold 3,019 shares of the stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $105.43, for a total value of $318,293.17. Following the completion of the transaction, the executive vice president owned 14,650 shares in the company, valued at $1,544,549.50. This represents a 17.09% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.70% of the company’s stock.

Chord Energy Trading Up 4.3%

Shares of CHRD stock opened at $90.99 on Wednesday. The stock has a 50-day simple moving average of $96.64 and a 200 day simple moving average of $99.40. The stock has a market capitalization of $5.17 billion, a P/E ratio of 35.00 and a beta of 0.92. Chord Energy Corporation has a fifty-two week low of $79.83 and a fifty-two week high of $134.54. The company has a quick ratio of 1.28, a current ratio of 1.35 and a debt-to-equity ratio of 0.18.

Chord Energy (NASDAQ:CHRD) last issued its quarterly earnings results on Tuesday, November 4th. The company reported $2.35 EPS for the quarter, topping the consensus estimate of $2.24 by $0.11. Chord Energy had a net margin of 3.31% and a return on equity of 8.27%. The firm had revenue of $1.31 billion for the quarter, compared to analysts’ expectations of $1.02 billion. During the same period in the previous year, the business earned $3.40 earnings per share. Chord Energy’s revenue for the quarter was up 17.0% compared to the same quarter last year. On average, sell-side analysts expect that Chord Energy Corporation will post 15.59 earnings per share for the current fiscal year.

Chord Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 5th. Stockholders of record on Wednesday, November 19th will be issued a dividend of $1.30 per share. The ex-dividend date is Wednesday, November 19th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 5.7%. Chord Energy’s payout ratio is currently 200.00%.

Chord Energy 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.