ARGA Investment Management LP Purchases Shares of 12,119 Chord Energy Corporation (NASDAQ:CHRD)

ARGA Investment Management LP acquired a new stake in 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 fund acquired 12,119 shares of the company's stock, valued at approximately $1,366,000.

A number of other institutional investors also recently added to or reduced their stakes in CHRD. Charles Schwab Investment Management Inc. boosted its holdings in Chord Energy by 8.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 497,073 shares of the company's stock worth $58,118,000 after buying an additional 39,401 shares in the last quarter. M&T Bank Corp purchased a new stake in shares of Chord Energy during the 4th quarter worth approximately $1,004,000. Proficio Capital Partners LLC acquired a new stake in shares of Chord Energy in the 4th quarter worth approximately $3,540,000. Raymond James Financial Inc. acquired a new stake in shares of Chord Energy in the 4th quarter worth approximately $29,984,000. Finally, Ashton Thomas Private Wealth LLC purchased a new position in Chord Energy in the 4th quarter valued at approximately $668,000. Hedge funds and other institutional investors own 97.76% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on CHRD shares. Wall Street Zen raised Chord Energy from a "sell" rating to a "hold" rating in a report on Friday, June 27th. Royal Bank Of Canada decreased their price objective 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. Mizuho dropped their target price on shares of Chord Energy from $154.00 to $150.00 and set an "outperform" rating for the company in a report on Tuesday, May 13th. Wells Fargo & Company cut their target price on shares of Chord Energy from $158.00 to $142.00 and set an "overweight" rating for the company in a research report on Monday, June 16th. Finally, Piper Sandler lowered their price target on shares of Chord Energy from $161.00 to $159.00 and set an "overweight" rating on the stock in a research report on Tuesday, July 1st. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Chord Energy currently has an average rating of "Moderate Buy" and an average price target of $151.08.

Chord Energy Trading Up 1.0%

Shares of CHRD traded up $1.08 on Friday, hitting $109.19. 581,260 shares of the stock traded hands, compared to its average volume of 858,700. Chord Energy Corporation has a 1 year low of $79.83 and a 1 year high of $181.17. The stock's 50 day moving average is $97.94 and its two-hundred day moving average is $104.67. The firm has a market capitalization of $6.31 billion, a P/E ratio of 7.30 and a beta of 0.96. The company has a quick ratio of 0.83, a current ratio of 0.89 and a debt-to-equity ratio of 0.09.

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

Chord Energy Dividend Announcement

The business also recently declared 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 dividend on an annualized basis and a dividend yield of 4.76%. Chord Energy's dividend payout ratio (DPR) is presently 34.78%.

Insider Activity

In related news, EVP Shannon Browning Kinney sold 3,091 shares of the 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 transaction, the executive vice president directly owned 21,277 shares of the company's stock, valued at approximately $2,002,165.70. This trade represents a 12.68% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.70% of the stock is owned by corporate insiders.

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.