12,119 Shares in Chord Energy Corporation (NASDAQ:CHRD) Purchased by ARGA Investment Management LP

ARGA Investment Management LP acquired a new position in shares of Chord Energy Corporation (NASDAQ:CHRD - Free Report) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 12,119 shares of the company's stock, valued at approximately $1,366,000.

Other hedge funds have also modified their holdings of the company. Gables Capital Management Inc. grew its stake in Chord Energy by 6.9% in the fourth quarter. Gables Capital Management Inc. now owns 1,550 shares of the company's stock valued at $181,000 after purchasing an additional 100 shares in the last quarter. Envestnet Portfolio Solutions Inc. grew its stake in Chord Energy by 2.9% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 3,710 shares of the company's stock valued at $434,000 after purchasing an additional 106 shares in the last quarter. MGO One Seven LLC grew its stake in Chord Energy by 6.7% in the fourth quarter. MGO One Seven LLC now owns 1,775 shares of the company's stock valued at $208,000 after purchasing an additional 111 shares in the last quarter. ProShare Advisors LLC grew its stake in Chord Energy by 6.0% in the fourth quarter. ProShare Advisors LLC now owns 2,861 shares of the company's stock valued at $335,000 after purchasing an additional 163 shares in the last quarter. Finally, Signaturefd LLC grew its stake in Chord Energy by 6.2% in the fourth quarter. Signaturefd LLC now owns 3,046 shares of the company's stock valued at $356,000 after purchasing an additional 177 shares in the last quarter. 97.76% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on CHRD shares. Morgan Stanley set a $139.00 price target on Chord Energy and gave the company a "cautious" rating in a research note on Wednesday, March 26th. Piper Sandler cut their price objective on Chord Energy from $161.00 to $159.00 and set an "overweight" rating for the company in a research report on Tuesday, July 1st. Royal Bank Of Canada cut their price objective on Chord Energy from $165.00 to $145.00 and set an "outperform" rating for the company in a research report on Friday, April 11th. Mizuho cut their price objective on Chord Energy from $154.00 to $150.00 and set an "outperform" rating for the company in a research report on Tuesday, May 13th. Finally, Wall Street Zen raised Chord Energy from a "sell" rating to a "hold" rating in a research report on Friday, June 27th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $150.69.

Chord Energy Stock Performance

NASDAQ:CHRD opened at $103.13 on Tuesday. The stock has a market cap of $5.96 billion, a P/E ratio of 6.90 and a beta of 0.96. The stock has a 50 day simple moving average of $96.68 and a 200 day simple moving average of $104.68. The company has a current ratio of 0.89, a quick ratio of 0.83 and a debt-to-equity ratio of 0.09. Chord Energy Corporation has a 1-year low of $79.83 and a 1-year high of $181.17.

Chord Energy (NASDAQ:CHRD - Get Free Report) last released its quarterly earnings results on Tuesday, May 6th. The company reported $4.04 earnings per share for the quarter, topping the consensus estimate of $3.60 by $0.44. The business had revenue of $1.22 billion during the quarter, compared to analysts' expectations of $1.07 billion. Chord Energy had a return on equity of 10.34% and a net margin of 16.15%. The firm's revenue for the quarter was up 12.0% compared to the same quarter last year. During the same period last year, the firm posted $5.10 EPS. Research analysts anticipate that Chord Energy Corporation will post 15.59 earnings per share for the current year.

Chord Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 9th. Shareholders of record on Wednesday, May 21st were issued a $1.30 dividend. The ex-dividend date was Wednesday, May 21st. This represents a $5.20 annualized dividend and a yield of 5.04%. Chord Energy's dividend payout ratio is presently 34.78%.

Insiders Place Their Bets

In other Chord Energy news, EVP Shannon Browning Kinney sold 3,091 shares of Chord Energy stock in a transaction on Thursday, May 8th. The stock was sold at an average price of $94.10, for a total value of $290,863.10. Following the completion of the transaction, the executive vice president directly owned 21,277 shares of the company's stock, valued at $2,002,165.70. The trade was a 12.68% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.70% of the stock is owned by corporate 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.

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