Archford Capital Strategies LLC Makes New $338,000 Investment in Chord Energy Corporation (NASDAQ:CHRD)

Archford Capital Strategies LLC acquired a new stake in shares of Chord Energy Corporation (NASDAQ:CHRD - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 3,000 shares of the company's stock, valued at approximately $338,000.

Several other large investors also recently added to or reduced their stakes in CHRD. Victory Capital Management Inc. boosted its position in shares of Chord Energy by 27.6% during the 4th quarter. Victory Capital Management Inc. now owns 2,864,456 shares of the company's stock valued at $334,912,000 after acquiring an additional 619,021 shares during the last quarter. FMR LLC raised its position in shares of Chord Energy by 11.5% during the 4th quarter. FMR LLC now owns 3,814,384 shares of the company's stock valued at $445,978,000 after buying an additional 394,372 shares in the last quarter. Encompass Capital Advisors LLC purchased a new position in Chord Energy in the fourth quarter worth $43,745,000. Squarepoint Ops LLC increased its stake in Chord Energy by 365.5% in the fourth quarter. Squarepoint Ops LLC now owns 337,284 shares of the company's stock valued at $39,435,000 after acquiring an additional 264,828 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in Chord Energy during the fourth quarter valued at about $29,984,000. Institutional investors own 97.76% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on CHRD. 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 report on Friday, April 11th. Mizuho cut their target price on Chord Energy from $154.00 to $150.00 and set an "outperform" rating for the company in a research note on Tuesday, May 13th. Piper Sandler reduced their price target on shares of Chord Energy from $184.00 to $183.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 22nd. Citigroup reduced their target price on shares of Chord Energy from $135.00 to $120.00 and set a "buy" rating on the stock in a report on Monday, April 7th. Finally, Morgan Stanley set a $139.00 price target on shares of Chord Energy and gave the company a "cautious" rating in a research report on Wednesday, March 26th. Two research analysts have rated the stock with a sell rating, one has given a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Chord Energy currently has an average rating of "Moderate Buy" and a consensus price target of $152.54.

Chord Energy Trading Down 0.7%

NASDAQ:CHRD traded down $0.65 during mid-day trading on Friday, reaching $98.70. 864,834 shares of the company's stock traded hands, compared to its average volume of 890,850. The company has a 50 day moving average price of $95.69 and a 200-day moving average price of $105.37. The firm has a market capitalization of $5.70 billion, a price-to-earnings ratio of 6.36, a PEG ratio of 6.89 and a beta of 0.96. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.89 and a quick ratio of 0.83. Chord Energy Corporation has a 12-month low of $79.83 and a 12-month high of $181.17.

Chord Energy (NASDAQ:CHRD - Get Free Report) last posted its earnings results on Tuesday, May 6th. The company reported $4.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.60 by $0.44. Chord Energy had a return on equity of 10.34% and a net margin of 16.15%. The firm had revenue of $1.22 billion for the quarter, compared to analysts' expectations of $1.07 billion. During the same period in the previous year, the firm earned $5.10 earnings per share. The business's revenue was up 12.0% compared to the same quarter last year. On average, 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 disclosed 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 5.27%. The ex-dividend date of this dividend was Wednesday, May 21st. Chord Energy's payout ratio is currently 34.78%.

Insiders Place Their Bets

In other news, EVP Shannon Browning Kinney sold 3,091 shares of the firm's stock in a transaction that occurred 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 now owns 21,277 shares in the company, valued at $2,002,165.70. This trade represents a 12.68% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.70% of the company's stock.

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.