AE Wealth Management LLC Makes New $2.46 Million Investment in Chord Energy Corporation (NASDAQ:CHRD)

Key Points

• AE Wealth Management LLC has acquired a new stake in Chord Energy Corporation, purchasing 21,825 shares valued at approximately $2.46 million in Q1.
• Analysts have varied opinions on Chord Energy, with target prices ranging from $112.00 to $154.00, resulting in an average rating of "Moderate Buy."
• Chord Energy Corporation has announced a quarterly dividend of $1.30 per share, resulting in an annualized yield of 4.78%, with a payout ratio of 34.78%.

AE Wealth Management LLC purchased a new position in shares of Chord Energy Corporation (NASDAQ:CHRD - Free Report) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 21,825 shares of the company's stock, valued at approximately $2,460,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Altshuler Shaham Ltd bought a new stake in Chord Energy during the 4th quarter worth approximately $25,000. Hexagon Capital Partners LLC increased its position in Chord Energy by 321.7% during the first quarter. Hexagon Capital Partners LLC now owns 447 shares of the company's stock valued at $50,000 after acquiring an additional 341 shares during the last quarter. Fifth Third Bancorp grew its holdings in Chord Energy by 195.8% during the first quarter. Fifth Third Bancorp now owns 698 shares of the company's stock valued at $79,000 after purchasing an additional 462 shares during the period. Pilgrim Partners Asia Pte Ltd bought a new stake in Chord Energy during the fourth quarter valued at about $80,000. Finally, GAMMA Investing LLC increased its holdings in shares of Chord Energy by 184.0% in the first quarter. GAMMA Investing LLC now owns 727 shares of the company's stock worth $82,000 after purchasing an additional 471 shares during the last quarter. 97.76% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, EVP Shannon Browning Kinney sold 3,091 shares of the business's stock in a transaction dated 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 owned 21,277 shares of the company's stock, valued at $2,002,165.70. The trade was a 12.68% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.70% of the company's stock.

Chord Energy Price Performance

Shares of Chord Energy stock traded down $0.54 during mid-day trading on Tuesday, reaching $112.48. 170,554 shares of the stock were exchanged, compared to its average volume of 841,270. The company has a market cap of $6.50 billion, a price-to-earnings ratio of 7.52 and a beta of 0.96. Chord Energy Corporation has a fifty-two week low of $79.83 and a fifty-two week high of $173.53. The firm has a 50-day simple moving average of $100.73 and a 200 day simple moving average of $103.62. 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 (NASDAQ:CHRD - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The company reported $4.04 earnings per share for the quarter, beating the consensus estimate of $3.60 by $0.44. The business had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.07 billion. Chord Energy had a net margin of 16.15% and a return on equity of 10.34%. Chord Energy's revenue was up 12.0% compared to the same quarter last year. During the same period in the prior year, the business posted $5.10 earnings per share. On average, sell-side analysts predict that Chord Energy Corporation will post 15.59 EPS for the current fiscal year.

Chord Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 9th. Shareholders of record on Wednesday, May 21st were given a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a yield of 4.62%. The ex-dividend date was Wednesday, May 21st. Chord Energy's dividend payout ratio (DPR) is presently 34.78%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on CHRD shares. Royal Bank Of Canada lowered their target price on shares of Chord Energy from $165.00 to $145.00 and set an "outperform" rating for the company in a research note on Friday, April 11th. Mizuho lowered their price objective on Chord Energy from $154.00 to $150.00 and set an "outperform" rating on the stock in a research note on Tuesday, May 13th. Wells Fargo & Company boosted their price objective on Chord Energy from $142.00 to $143.00 and gave the company an "overweight" rating in a report on Tuesday, July 15th. Citigroup raised their price target on Chord Energy from $120.00 to $125.00 and gave the company a "buy" rating in a research note on Wednesday, July 9th. Finally, Wall Street Zen downgraded shares of Chord Energy from a "hold" rating to a "sell" rating in a research note on Friday, July 18th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $151.54.

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.