Paragon Capital Management Inc. Makes New Investment in Chord Energy Corporation (NASDAQ:CHRD)

Paragon Capital Management Inc. purchased a new stake in shares of Chord Energy Corporation (NASDAQ:CHRD - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 12,079 shares of the company's stock, valued at approximately $1,362,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in CHRD. Sanctuary Advisors LLC raised its stake in Chord Energy by 34.7% in the fourth quarter. Sanctuary Advisors LLC now owns 6,926 shares of the company's stock valued at $801,000 after purchasing an additional 1,785 shares in the last quarter. Proficio Capital Partners LLC purchased a new stake in Chord Energy in the fourth quarter worth $3,540,000. Versor Investments LP bought a new stake in shares of Chord Energy during the 4th quarter valued at about $737,000. Anchor Capital Advisors LLC lifted its holdings in Chord Energy by 1.4% in the fourth quarter. Anchor Capital Advisors LLC now owns 231,936 shares of the company's stock worth $27,118,000 after buying an additional 3,207 shares during the period. Finally, Fisher Asset Management LLC boosted its position in Chord Energy by 1.7% during the 4th quarter. Fisher Asset Management LLC now owns 86,198 shares of the company's stock valued at $10,078,000 after acquiring an additional 1,421 shares in the last quarter. 97.76% of the stock is currently owned by institutional investors.

Chord Energy Stock Down 1.9%

Shares of CHRD traded down $1.85 during midday trading on Monday, reaching $96.85. The stock had a trading volume of 661,660 shares, compared to its average volume of 856,023. Chord Energy Corporation has a 1-year low of $79.83 and a 1-year high of $181.17. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.89 and a quick ratio of 0.83. The company has a market cap of $5.59 billion, a price-to-earnings ratio of 6.48 and a beta of 0.96. The company's fifty day simple moving average is $95.69 and its two-hundred day simple moving average is $105.17.

Chord Energy (NASDAQ:CHRD - Get Free Report) last issued its quarterly earnings data on Tuesday, May 6th. The company reported $4.04 earnings per share for the quarter, beating analysts' consensus estimates of $3.60 by $0.44. Chord Energy had a return on equity of 10.34% and a net margin of 16.15%. The company had revenue of $1.22 billion during the quarter, compared to analysts' expectations of $1.07 billion. During the same quarter in the previous year, the business earned $5.10 earnings per share. The firm's revenue for the quarter was up 12.0% on a year-over-year basis. Equities research analysts expect that Chord Energy Corporation will post 15.59 earnings per share for the current year.

Chord Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 9th. Investors of record on Wednesday, May 21st were paid a $1.30 dividend. The ex-dividend date was Wednesday, May 21st. This represents a $5.20 dividend on an annualized basis and a yield of 5.37%. Chord Energy's payout ratio is 34.78%.

Analyst Ratings Changes

Several analysts recently commented on the company. Bank of America cut their price objective on Chord Energy from $114.00 to $112.00 and set a "buy" rating for the company in a report on Friday, May 23rd. Williams Trading set a $155.00 target price on shares of Chord Energy in a research report on Wednesday, March 5th. Royal Bank Of Canada decreased their price target on shares of Chord Energy from $165.00 to $145.00 and set an "outperform" rating on the stock in a research report on Friday, April 11th. Piper Sandler decreased their target price on Chord Energy from $184.00 to $183.00 and set an "overweight" rating on the stock in a report on Tuesday, April 22nd. Finally, Wells Fargo & Company reduced their target price on shares of Chord Energy from $158.00 to $142.00 and set an "overweight" rating for the company in a report on Monday, June 16th. One analyst has rated the stock with a sell rating, two have given a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $152.54.

Insider Buying and Selling at Chord Energy

In related news, EVP Shannon Browning Kinney sold 3,091 shares of Chord Energy stock in a transaction on Thursday, May 8th. The shares were sold at an average price of $94.10, for a total transaction of $290,863.10. Following the transaction, the executive vice president now owns 21,277 shares in the company, valued at approximately $2,002,165.70. The trade was a 12.68% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.70% of the stock is owned by insiders.

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.