4,726 Shares in Chord Energy Co. (NASDAQ:CHRD) Acquired by Merit Financial Group LLC

Merit Financial Group LLC purchased a new stake in shares of Chord Energy Co. (NASDAQ:CHRD) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 4,726 shares of the company’s stock, valued at approximately $553,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of CHRD. Hexagon Capital Partners LLC raised its stake in shares of Chord Energy by 462.9% in the 3rd quarter. Hexagon Capital Partners LLC now owns 197 shares of the company’s stock valued at $26,000 after acquiring an additional 162 shares during the period. Stone House Investment Management LLC purchased a new stake in Chord Energy during the 3rd quarter worth $26,000. UMB Bank n.a. increased its holdings in Chord Energy by 77.7% in the 3rd quarter. UMB Bank n.a. now owns 231 shares of the company’s stock valued at $30,000 after purchasing an additional 101 shares in the last quarter. Spartan Fund Management Inc. purchased a new position in Chord Energy in the third quarter valued at about $34,000. Finally, Benjamin F. Edwards & Company Inc. lifted its stake in shares of Chord Energy by 125.9% during the second 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 owned by institutional investors and hedge funds.

Chord Energy Price Performance

CHRD opened at $120.74 on Friday. 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 Co. has a 1-year low of $109.59 and a 1-year high of $190.23. The company has a 50-day moving average of $121.93 and a 200-day moving average of $136.66. The company has a market capitalization of $7.38 billion, a P/E ratio of 6.22, a PEG ratio of 6.19 and a beta of 0.99.

Chord Energy (NASDAQ:CHRD) last announced its quarterly earnings data on Wednesday, November 6th. The company reported $3.40 earnings per share for the quarter, missing the consensus estimate of $3.63 by ($0.23). Chord Energy had a net margin of 19.74% and a return on equity of 12.88%. The firm had revenue of $1.12 billion during the quarter, compared to the consensus estimate of $1.26 billion. During the same period in the prior year, the firm earned $5.04 earnings per share. The firm’s quarterly revenue was up 33.4% compared to the same quarter last year. Equities analysts expect that Chord Energy Co. will post 15.64 EPS for the current fiscal year.

Chord Energy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Wednesday, November 27th were given a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a dividend yield of 4.14%. The ex-dividend date was Wednesday, November 27th. Chord Energy’s dividend payout ratio is currently 25.75%.

Insider Buying and Selling

In related news, CAO Shannon Browning Kinney sold 1,000 shares of the stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $116.35, for a total transaction of $116,350.00. Following the sale, the chief accounting officer now owns 19,488 shares in the company, valued at $2,267,428.80. This represents a 4.88 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.70% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on CHRD shares. Piper Sandler lowered their target price on Chord Energy from $194.00 to $193.00 and set an “overweight” rating for the company in a research note on Wednesday, January 15th. Morgan Stanley began coverage on shares of Chord Energy in a research note on Friday, January 10th. They set an “equal weight” rating and a $158.00 price objective on the stock. Wells Fargo & Company decreased their target price on shares of Chord Energy from $176.00 to $175.00 and set an “overweight” rating for the company in a research note on Wednesday, January 15th. Wolfe Research raised shares of Chord Energy from a “peer perform” rating to an “outperform” rating and set a $155.00 price target on the stock in a research note on Friday, January 3rd. Finally, Truist Financial upped their price objective on shares of Chord Energy from $185.00 to $186.00 and gave the company a “buy” rating in a research report on Monday, January 13th. Three equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Chord Energy currently has an average rating of “Moderate Buy” and an average target price of $173.08.

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.