Moran Wealth Management LLC Has $2.35 Million Stock Position in Chord Energy Co. (NASDAQ:CHRD)

Moran Wealth Management LLC boosted its holdings in shares of Chord Energy Co. (NASDAQ:CHRD) by 2.9% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 15,255 shares of the company’s stock after acquiring an additional 432 shares during the quarter. Moran Wealth Management LLC’s holdings in Chord Energy were worth $2,346,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. BlackRock Inc. boosted its position in Chord Energy by 50.4% during the 1st quarter. BlackRock Inc. now owns 4,888,058 shares of the company’s stock worth $657,933,000 after acquiring an additional 1,638,278 shares during the period. State Street Corp boosted its position in Chord Energy by 22.5% during the 1st quarter. State Street Corp now owns 1,903,685 shares of the company’s stock worth $256,236,000 after acquiring an additional 349,592 shares during the period. First Trust Advisors LP boosted its position in Chord Energy by 514.8% during the 1st quarter. First Trust Advisors LP now owns 1,477,124 shares of the company’s stock worth $198,821,000 after acquiring an additional 1,236,882 shares during the period. JPMorgan Chase & Co. boosted its position in Chord Energy by 7.4% during the 1st quarter. JPMorgan Chase & Co. now owns 1,310,240 shares of the company’s stock worth $176,358,000 after acquiring an additional 90,673 shares during the period. Finally, Ninepoint Partners LP boosted its position in Chord Energy by 32.9% during the 1st quarter. Ninepoint Partners LP now owns 990,000 shares of the company’s stock worth $133,254,000 after acquiring an additional 245,000 shares during the period. 97.76% of the stock is currently owned by institutional investors and hedge funds.

Chord Energy Stock Down 0.5 %

Shares of CHRD stock opened at $161.74 on Tuesday. The stock’s 50 day simple moving average is $162.80 and its 200 day simple moving average is $156.11. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.97 and a current ratio of 1.02. Chord Energy Co. has a twelve month low of $117.05 and a twelve month high of $175.20. The company has a market capitalization of $6.68 billion, a price-to-earnings ratio of 6.41, a PEG ratio of 0.42 and a beta of 1.28.

Chord Energy (NASDAQ:CHRD) last issued its quarterly earnings data on Wednesday, November 1st. The company reported $5.04 earnings per share for the quarter, missing analysts’ consensus estimates of $5.22 by ($0.18). The company had revenue of $840.60 million during the quarter, compared to the consensus estimate of $763.94 million. Chord Energy had a net margin of 27.86% and a return on equity of 16.74%. The firm’s revenue was down 20.4% on a year-over-year basis. During the same period in the previous year, the business posted $7.20 earnings per share. As a group, research analysts predict that Chord Energy Co. will post 19.56 EPS for the current year.

Chord Energy Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 28th. Shareholders of record on Tuesday, November 14th will be given a $1.25 dividend. This represents a $5.00 annualized dividend and a yield of 3.09%. The ex-dividend date of this dividend is Monday, November 13th. Chord Energy’s dividend payout ratio is currently 19.81%.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Bank of America raised their price objective on Chord Energy from $169.00 to $177.00 in a research report on Wednesday, September 27th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $180.00 price target on shares of Chord Energy in a research note on Wednesday, August 23rd. Truist Financial reaffirmed a “buy” rating and set a $221.00 price target on shares of Chord Energy in a research note on Wednesday, September 6th. BMO Capital Markets assumed coverage on Chord Energy in a research note on Thursday, August 31st. They set an “outperform” rating and a $185.00 price target for the company. Finally, Mizuho raised their price target on Chord Energy from $180.00 to $194.00 and gave the stock a “buy” rating in a research note on Monday, September 18th. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, Chord Energy currently has an average rating of “Moderate Buy” and an average target price of $187.40.

Insiders Place Their Bets

In other news, COO Charles J. Rimer sold 1,500 shares of Chord Energy stock in a transaction that occurred on Thursday, August 31st. The stock was sold at an average price of $160.00, for a total transaction of $240,000.00. Following the sale, the chief operating officer now owns 91,273 shares of the company’s stock, valued at approximately $14,603,680. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, COO Charles J. Rimer sold 1,500 shares of Chord Energy stock in a transaction that occurred on Thursday, August 31st. The stock was sold at an average price of $160.00, for a total transaction of $240,000.00. Following the sale, the chief operating officer now owns 91,273 shares of the company’s stock, valued at approximately $14,603,680. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Lynn A. Peterson sold 3,000 shares of the business’s stock in a transaction on Friday, September 15th. The shares were sold at an average price of $159.05, for a total value of $477,150.00. Following the completion of the sale, the director now directly owns 223,098 shares in the company, valued at approximately $35,483,736.90. The disclosure for this sale can be found here. Insiders have sold a total of 12,000 shares of company stock valued at $1,963,575 in the last three months. Company insiders own 0.52% of the company’s stock.

Chord Energy Profile

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. Chord Energy Corporation was founded in 2007 and is headquartered in Houston, Texas.