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

Benjamin Edwards Inc. raised its stake in Chord Energy Co. (NASDAQ:CHRD) by 9.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,400 shares of the company’s stock after purchasing an additional 283 shares during the period. Benjamin Edwards Inc.’s holdings in Chord Energy were worth $398,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. BNP Paribas Financial Markets purchased a new stake in Chord Energy in the fourth quarter valued at approximately $4,721,000. Ameriprise Financial Inc. increased its holdings in shares of Chord Energy by 8.6% in the 4th quarter. Ameriprise Financial Inc. now owns 108,561 shares of the company’s stock valued at $12,693,000 after purchasing an additional 8,621 shares in the last quarter. Algert Global LLC purchased a new position in Chord Energy in the 4th quarter valued at approximately $14,515,000. Alyeska Investment Group L.P. grew its stake in Chord Energy by 39.0% in the 4th quarter. Alyeska Investment Group L.P. now owns 129,814 shares of the company’s stock valued at $15,178,000 after acquiring an additional 36,438 shares during the last quarter. Finally, Aptus Capital Advisors LLC lifted its stake in Chord Energy by 23.9% in the 4th quarter. Aptus Capital Advisors LLC now owns 56,285 shares of the company’s stock valued at $6,581,000 after buying an additional 10,860 shares in the last quarter. 97.76% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Royal Bank of Canada reduced their target price on shares of Chord Energy from $165.00 to $145.00 and set an “outperform” rating on the stock in a report on Friday, April 11th. Truist Financial increased their target price on shares of Chord Energy from $185.00 to $186.00 and gave the stock a “buy” rating in a research report on Monday, January 13th. Morgan Stanley set a $139.00 price target on Chord Energy and gave the stock a “cautious” rating in a report on Wednesday, March 26th. Williams Trading set a $155.00 target price on Chord Energy in a research note on Wednesday, March 5th. Finally, Wells Fargo & Company reduced their price target on shares of Chord Energy from $166.00 to $158.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 15th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Chord Energy has a consensus rating of “Moderate Buy” and an average target price of $156.08.

Chord Energy Price Performance

NASDAQ CHRD opened at $93.04 on Friday. The stock has a 50-day simple moving average of $98.60 and a 200 day simple moving average of $112.58. Chord Energy Co. has a twelve month low of $79.83 and a twelve month high of $188.02. The stock has a market capitalization of $5.53 billion, a PE ratio of 4.79, a P/E/G ratio of 5.83 and a beta of 0.99. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.89 and a current ratio of 0.93.

Chord Energy (NASDAQ:CHRD) last issued its quarterly earnings results on Tuesday, May 6th. The company reported $4.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.60 by $0.44. Chord Energy had a return on equity of 12.88% and a net margin of 19.74%. The firm had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.07 billion. During the same period in the previous year, the company posted $5.10 earnings per share. The company’s quarterly revenue was up 12.0% compared to the same quarter last year. Research analysts anticipate that Chord Energy Co. will post 15.59 EPS for the current year.

Chord Energy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 9th. Stockholders of record on Wednesday, May 21st will be issued a $1.30 dividend. The ex-dividend date is Wednesday, May 21st. This represents a $5.20 dividend on an annualized basis and a dividend yield of 5.59%. Chord Energy’s payout ratio is presently 34.78%.

About Chord Energy

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.