Redmont Wealth Advisors LLC Takes Position in Chord Energy Co. (NASDAQ:CHRD)

Redmont Wealth Advisors LLC purchased a new position in shares of Chord Energy Co. (NASDAQ:CHRD) in the 3rd quarter, HoldingsChannel.com reports. The fund purchased 3,589 shares of the company’s stock, valued at approximately $467,000.

Other institutional investors have also added to or reduced their stakes in the company. Hexagon Capital Partners LLC increased its position in Chord Energy by 462.9% during the 3rd quarter. Hexagon Capital Partners LLC now owns 197 shares of the company’s stock worth $26,000 after buying an additional 162 shares during the period. UMB Bank n.a. grew its stake in shares of Chord Energy by 77.7% in the third quarter. UMB Bank n.a. now owns 231 shares of the company’s stock valued at $30,000 after acquiring an additional 101 shares in the last quarter. Rise Advisors LLC bought a new position in Chord Energy during the first quarter worth about $31,000. Ashton Thomas Private Wealth LLC bought a new position in Chord Energy during the second quarter worth about $40,000. Finally, Benjamin F. Edwards & Company Inc. raised its stake in Chord Energy by 125.9% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 244 shares of the company’s stock worth $41,000 after purchasing an additional 136 shares in the last quarter. 97.76% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the stock. Truist Financial lowered their target price on shares of Chord Energy from $223.00 to $185.00 and set a “buy” rating on the stock in a report on Monday, September 30th. Bank of America upped their target price on Chord Energy from $201.00 to $208.00 and gave the company a “buy” rating in a research report on Wednesday, August 21st. Wells Fargo & Company decreased their price target on Chord Energy from $185.00 to $180.00 and set an “overweight” rating on the stock in a research report on Wednesday. Wolfe Research initiated coverage on shares of Chord Energy in a research report on Thursday, July 18th. They set a “peer perform” rating for the company. Finally, Siebert Williams Shank upgraded shares of Chord Energy to a “strong-buy” rating in a research note on Tuesday. Two analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $190.18.

Chord Energy Trading Up 1.7 %

CHRD opened at $130.58 on Friday. The company’s 50 day moving average is $139.44 and its 200-day moving average is $162.43. The company has a market cap of $5.44 billion, a P/E ratio of 6.13, a PEG ratio of 4.92 and a beta of 0.97. Chord Energy Co. has a 1-year low of $126.38 and a 1-year high of $190.23. The company has a current ratio of 0.96, a quick ratio of 0.91 and a debt-to-equity ratio of 0.11.

Chord Energy (NASDAQ:CHRD) last posted its earnings results on Wednesday, August 7th. The company reported $4.69 earnings per share for the quarter, missing analysts’ consensus estimates of $5.00 by ($0.31). Chord Energy had a return on equity of 15.06% and a net margin of 20.83%. The company had revenue of $902.70 million for the quarter, compared to the consensus estimate of $982.43 million. During the same period in the previous year, the firm posted $3.65 EPS. The business’s quarterly revenue was up 29.8% compared to the same quarter last year. Equities research analysts predict that Chord Energy Co. will post 17.93 earnings per share for the current fiscal year.

Chord Energy Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 5th. Shareholders of record on Wednesday, August 21st were given a $1.25 dividend. The ex-dividend date was Wednesday, August 21st. This represents a $5.00 annualized dividend and a yield of 3.83%. Chord Energy’s dividend payout ratio is presently 23.46%.

Insider Activity

In other Chord Energy news, Director Samantha Holroyd acquired 500 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The stock was acquired at an average price of $149.51 per share, for a total transaction of $74,755.00. Following the acquisition, the director now directly owns 14,417 shares in the company, valued at $2,155,485.67. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.70% of the company’s stock.

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.