Raymond James & Associates Acquires New Holdings in Chord Energy Co. (NASDAQ:CHRD)

Raymond James & Associates acquired a new stake in Chord Energy Co. (NASDAQ:CHRD – Get Rating) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 28,529 shares of the company’s stock, valued at approximately $3,903,000.

A number of other institutional investors have also made changes to their positions in CHRD. Copeland Capital Management LLC bought a new position in shares of Chord Energy in the 4th quarter valued at approximately $67,071,000. Armstrong Advisory Group Inc. bought a new position in shares of Chord Energy in the 4th quarter valued at approximately $25,000. Delta Capital Management LLC bought a new position in shares of Chord Energy in the 4th quarter valued at approximately $373,000. Ronald Blue Trust Inc. bought a new position in shares of Chord Energy in the 4th quarter valued at approximately $222,000. Finally, Fortem Financial Group LLC bought a new position in shares of Chord Energy in the 4th quarter valued at approximately $438,000. 93.47% of the stock is owned by institutional investors.

Chord Energy Price Performance

Chord Energy stock opened at $151.36 on Thursday. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.18 and a quick ratio of 1.13. The company has a market capitalization of $6.29 billion, a PE ratio of 3.59, a price-to-earnings-growth ratio of 0.35 and a beta of 1.36. Chord Energy Co. has a one year low of $93.35 and a one year high of $181.34. The business has a 50 day simple moving average of $138.61 and a 200 day simple moving average of $139.78.

Chord Energy (NASDAQ:CHRD – Get Rating) last posted its earnings results on Wednesday, February 22nd. The company reported $5.28 EPS for the quarter, missing the consensus estimate of $5.89 by ($0.61). The company had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $875.33 million. Chord Energy had a return on equity of 23.51% and a net margin of 43.37%. On average, sell-side analysts forecast that Chord Energy Co. will post 22.46 EPS for the current fiscal year.

Chord Energy Cuts Dividend

The business also recently announced a None dividend, which will be paid on Tuesday, May 30th. Investors of record on Tuesday, May 16th will be given a dividend of $3.22 per share. The ex-dividend date is Monday, May 15th. This represents a dividend yield of 3.5%. Chord Energy’s dividend payout ratio (DPR) is presently 11.85%.

Insider Buying and Selling

In other Chord Energy news, Director Lynn A. Peterson sold 3,000 shares of Chord Energy stock in a transaction on Monday, April 17th. The stock was sold at an average price of $144.94, for a total value of $434,820.00. Following the completion of the transaction, the director now owns 238,098 shares in the company, valued at approximately $34,509,924.12. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders sold 9,000 shares of company stock worth $1,282,590 in the last 90 days. 0.52% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of analysts have issued reports on CHRD shares. Citigroup lowered their target price on Chord Energy from $170.00 to $165.00 in a report on Sunday. Bank of America began coverage on Chord Energy in a report on Wednesday, January 25th. They set a “buy” rating and a $178.00 price objective on the stock. Stifel Nicolaus decreased their price objective on Chord Energy from $185.00 to $182.00 in a report on Monday. Royal Bank of Canada reissued an “outperform” rating and set a $190.00 price objective on shares of Chord Energy in a report on Thursday, March 30th. Finally, Truist Financial decreased their price objective on Chord Energy from $252.00 to $246.00 in a report on Monday, May 8th. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $187.38.

Chord Energy Company Profile

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Chord Energy Corporation operates as an independent exploration and production company. It acquires, exploits, develops, and explores for crude oil, natural gas, and natural gas liquids in the Williston Basin. The company was founded in 2007 and is headquartered in Houston, Texas.