16,808 Shares in Chord Energy Corporation $CHRD Purchased by Wealth Enhancement Advisory Services LLC

Key Points

• Wealth Enhancement Advisory Services LLC acquired 16,808 shares of Chord Energy Corporation ($CHRD), valued at approximately $1.75 million, indicating growing institutional interest in the stock.
• Chord Energy's recent earnings report showed earnings per share (EPS) of $1.79, missing estimates, but revenue of $1.18 billion surpassed expectations, reflecting a 5.3% year-over-year increase.
• The company's quarterly dividend was recently paid at $1.30 per share, creating a 5.1% yield; however, its payout ratio stands at 132.32%, raising potential sustainability concerns.

Wealth Enhancement Advisory Services LLC acquired a new position in shares of Chord Energy Corporation (NASDAQ:CHRD - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 16,808 shares of the company's stock, valued at approximately $1,755,000.

A number of other institutional investors have also recently added to or reduced their stakes in CHRD. Hexagon Capital Partners LLC boosted its holdings in Chord Energy by 321.7% during the first quarter. Hexagon Capital Partners LLC now owns 447 shares of the company's stock worth $50,000 after buying an additional 341 shares in the last quarter. Caitong International Asset Management Co. Ltd raised its position in Chord Energy by 5,877.8% during the first quarter. Caitong International Asset Management Co. Ltd now owns 538 shares of the company's stock worth $61,000 after acquiring an additional 529 shares during the last quarter. MassMutual Private Wealth & Trust FSB raised its position in Chord Energy by 254.1% during the second quarter. MassMutual Private Wealth & Trust FSB now owns 687 shares of the company's stock worth $67,000 after acquiring an additional 493 shares during the last quarter. Fifth Third Bancorp raised its position in Chord Energy by 195.8% during the first quarter. Fifth Third Bancorp now owns 698 shares of the company's stock worth $79,000 after acquiring an additional 462 shares during the last quarter. Finally, GAMMA Investing LLC raised its position in Chord Energy by 184.0% during the first quarter. GAMMA Investing LLC now owns 727 shares of the company's stock worth $82,000 after acquiring an additional 471 shares during the last quarter. Hedge funds and other institutional investors own 97.76% of the company's stock.

Chord Energy Stock Performance

Shares of CHRD stock opened at $101.19 on Tuesday. Chord Energy Corporation has a one year low of $79.83 and a one year high of $139.26. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.90 and a current ratio of 0.97. The company has a 50 day moving average price of $105.29 and a 200 day moving average price of $100.94. The firm has a market capitalization of $5.79 billion, a price-to-earnings ratio of 25.75 and a beta of 0.97.

Chord Energy (NASDAQ:CHRD - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The company reported $1.79 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.88 by ($0.09). Chord Energy had a return on equity of 9.02% and a net margin of 5.02%.The business had revenue of $1.18 billion for the quarter, compared to analysts' expectations of $984.07 million. During the same quarter in the prior year, the firm earned $4.69 earnings per share. Chord Energy's quarterly revenue was up 5.3% compared to the same quarter last year. Sell-side analysts anticipate that Chord Energy Corporation will post 15.59 EPS for the current year.

Chord Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 8th. Shareholders of record on Thursday, August 21st were paid a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a yield of 5.1%. The ex-dividend date was Thursday, August 21st. Chord Energy's payout ratio is currently 132.32%.

Insider Transactions at Chord Energy

In other Chord Energy news, EVP Shannon Browning Kinney sold 3,019 shares of the business's stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $105.43, for a total transaction of $318,293.17. Following the completion of the sale, the executive vice president directly owned 14,650 shares in the company, valued at $1,544,549.50. The trade was a 17.09% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.70% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on CHRD shares. Wells Fargo & Company lifted their target price on shares of Chord Energy from $146.00 to $149.00 and gave the stock an "overweight" rating in a research report on Wednesday, September 17th. UBS Group lifted their target price on shares of Chord Energy from $122.00 to $130.00 and gave the stock a "buy" rating in a research report on Tuesday, September 16th. Wall Street Zen cut shares of Chord Energy from a "hold" rating to a "sell" rating in a research report on Friday, July 18th. Bank of America lifted their target price on shares of Chord Energy from $112.00 to $123.00 and gave the stock a "buy" rating in a research report on Wednesday, September 17th. Finally, Mizuho cut their price objective on shares of Chord Energy from $152.00 to $142.00 and set an "outperform" rating for the company in a research report on Monday, September 15th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $147.15.

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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