Archford Capital Strategies LLC Takes $338,000 Position in Chord Energy Corporation (NASDAQ:CHRD)

Archford Capital Strategies LLC acquired a new position in Chord Energy Corporation (NASDAQ:CHRD - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 3,000 shares of the company's stock, valued at approximately $338,000.

A number of other institutional investors and hedge funds have also made changes to their positions in CHRD. Altshuler Shaham Ltd purchased a new position in shares of Chord Energy in the 4th quarter worth $25,000. Twin Tree Management LP purchased a new position in shares of Chord Energy in the 4th quarter worth $33,000. Larson Financial Group LLC grew its stake in shares of Chord Energy by 238.3% in the 4th quarter. Larson Financial Group LLC now owns 318 shares of the company's stock worth $37,000 after buying an additional 224 shares in the last quarter. Union Bancaire Privee UBP SA purchased a new position in shares of Chord Energy in the 4th quarter worth $77,000. Finally, Fifth Third Bancorp grew its stake in shares of Chord Energy by 195.8% in the 1st quarter. Fifth Third Bancorp now owns 698 shares of the company's stock worth $79,000 after buying an additional 462 shares in the last quarter. 97.76% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other 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 transaction, the executive vice president now directly owns 21,277 shares in the company, valued at approximately $2,002,165.70. This trade represents a 12.68% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.70% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research 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 report on Friday, April 11th. Wall Street Zen upgraded shares of Chord Energy from a "sell" rating to a "hold" rating in a report on Friday. Wells Fargo & Company lowered 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. Citigroup lowered their target price on shares of Chord Energy from $135.00 to $120.00 and set a "buy" rating for the company in a report on Monday, April 7th. Finally, Piper Sandler lowered their target price on shares of Chord Energy from $184.00 to $183.00 and set an "overweight" rating for the company in a report on Tuesday, April 22nd. One 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 given a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $152.54.

Chord Energy Trading Down 0.7%

CHRD traded down $0.65 during trading on Friday, hitting $98.70. 864,834 shares of the stock were exchanged, compared to its average volume of 856,775. The firm has a 50 day simple moving average of $95.69 and a 200 day simple moving average of $105.17. The firm has a market cap of $5.70 billion, a price-to-earnings ratio of 6.60 and a beta of 0.96. 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 quick ratio of 0.83 and a current ratio of 0.89.

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

Chord Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 9th. Stockholders of record on Wednesday, May 21st were issued a $1.30 dividend. The ex-dividend date of this dividend was Wednesday, May 21st. This represents a $5.20 dividend on an annualized basis and a dividend yield of 5.27%. Chord Energy's dividend payout ratio is presently 34.78%.

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.