SevenBridge Financial Group LLC Makes New $382,000 Investment in Chord Energy Co. (NASDAQ:CHRD)

SevenBridge Financial Group LLC acquired a new stake in shares of Chord Energy Co. (NASDAQ:CHRDFree Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 2,300 shares of the company’s stock, valued at approximately $382,000.

Other large investors also recently bought and sold shares of the company. Commonwealth Equity Services LLC lifted its holdings in Chord Energy by 0.6% in the third quarter. Commonwealth Equity Services LLC now owns 12,246 shares of the company’s stock valued at $1,985,000 after acquiring an additional 67 shares during the period. Fifth Third Bancorp increased its position in Chord Energy by 15.4% in the third quarter. Fifth Third Bancorp now owns 526 shares of the company’s stock worth $85,000 after buying an additional 70 shares in the last quarter. State Board of Administration of Florida Retirement System raised its stake in shares of Chord Energy by 0.6% in the third quarter. State Board of Administration of Florida Retirement System now owns 11,956 shares of the company’s stock worth $1,938,000 after buying an additional 70 shares during the period. Contravisory Investment Management Inc. lifted its position in shares of Chord Energy by 48.9% during the 4th quarter. Contravisory Investment Management Inc. now owns 259 shares of the company’s stock valued at $43,000 after buying an additional 85 shares in the last quarter. Finally, Hussman Strategic Advisors Inc. increased its holdings in Chord Energy by 1.6% in the 3rd quarter. Hussman Strategic Advisors Inc. now owns 6,300 shares of the company’s stock worth $1,021,000 after acquiring an additional 100 shares in the last quarter. 97.76% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CFO Michael H. Lou sold 6,000 shares of the stock in a transaction on Thursday, January 4th. The stock was sold at an average price of $169.80, for a total transaction of $1,018,800.00. Following the sale, the chief financial officer now owns 170,835 shares in the company, valued at approximately $29,007,783. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Chord Energy news, CFO Michael H. Lou sold 3,000 shares of the firm’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $165.00, for a total value of $495,000.00. Following the completion of the sale, the chief financial officer now owns 128,209 shares of the company’s stock, valued at $21,154,485. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Michael H. Lou sold 6,000 shares of the company’s stock in a transaction that occurred on Thursday, January 4th. The shares were sold at an average price of $169.80, for a total value of $1,018,800.00. Following the transaction, the chief financial officer now directly owns 170,835 shares in the company, valued at approximately $29,007,783. The disclosure for this sale can be found here. Insiders sold 12,000 shares of company stock valued at $1,976,250 in the last ninety days. Insiders own 0.70% of the company’s stock.

Chord Energy Stock Performance

NASDAQ CHRD opened at $179.99 on Monday. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.22 and a quick ratio of 1.16. The stock has a market capitalization of $7.48 billion, a PE ratio of 7.58 and a beta of 1.06. Chord Energy Co. has a 1-year low of $133.34 and a 1-year high of $179.99. The business has a 50 day simple moving average of $161.79 and a two-hundred day simple moving average of $162.08.

Chord Energy (NASDAQ:CHRDGet Free Report) last announced its quarterly earnings results on Wednesday, February 21st. The company reported $5.25 earnings per share for the quarter, topping the consensus estimate of $5.04 by $0.21. Chord Energy had a net margin of 26.27% and a return on equity of 16.35%. The company had revenue of $964.69 million for the quarter, compared to analysts’ expectations of $891.67 million. On average, research analysts predict that Chord Energy Co. will post 20.25 EPS for the current fiscal year.

Chord Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 19th. Shareholders of record on Tuesday, March 5th were paid a dividend of $3.25 per share. This is a boost from Chord Energy’s previous quarterly dividend of $1.25. This represents a $13.00 annualized dividend and a yield of 7.22%. The ex-dividend date was Monday, March 4th. Chord Energy’s payout ratio is presently 21.25%.

Analyst Ratings Changes

A number of research firms have weighed in on CHRD. Mizuho upped their price target on shares of Chord Energy from $189.00 to $195.00 and gave the stock a “buy” rating in a research report on Thursday, March 14th. Bank of America lowered Chord Energy from a “buy” rating to an “underperform” rating and cut their price target for the stock from $177.00 to $165.00 in a research note on Friday, January 5th. Piper Sandler boosted their price objective on Chord Energy from $218.00 to $219.00 and gave the company an “overweight” rating in a research report on Thursday, March 7th. Stifel Nicolaus increased their target price on Chord Energy from $178.00 to $211.00 and gave the stock a “buy” rating in a research report on Tuesday, February 27th. Finally, Truist Financial lifted their target price on Chord Energy from $224.00 to $229.00 and gave the company a “buy” rating in a research note on Thursday, February 22nd. One investment analyst has rated the stock with a sell rating, one has given a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, Chord Energy presently has a consensus rating of “Moderate Buy” and a consensus target price of $190.90.

Check Out Our Latest Stock Report on Chord Energy

About Chord Energy

(Free Report)

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.

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Institutional Ownership by Quarter for Chord Energy (NASDAQ:CHRD)

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