Arkfeld Wealth Strategies L.L.C. Buys 13,821 Shares of Chord Energy Co. (NASDAQ:CHRD)

Arkfeld Wealth Strategies L.L.C. boosted its stake in Chord Energy Co. (NASDAQ:CHRD - Free Report) by 15.0% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 106,032 shares of the company's stock after purchasing an additional 13,821 shares during the period. Chord Energy comprises approximately 5.0% of Arkfeld Wealth Strategies L.L.C.'s portfolio, making the stock its 4th largest position. Arkfeld Wealth Strategies L.L.C. owned 0.18% of Chord Energy worth $11,952,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CHRD. Altshuler Shaham Ltd acquired a new stake in shares of Chord Energy during the 4th quarter worth about $25,000. Twin Tree Management LP acquired a new stake in Chord Energy during the fourth quarter worth approximately $33,000. Larson Financial Group LLC raised its holdings in Chord Energy by 238.3% during the fourth quarter. Larson Financial Group LLC now owns 318 shares of the company's stock worth $37,000 after purchasing an additional 224 shares in the last quarter. Venturi Wealth Management LLC lifted its position in shares of Chord Energy by 1,751.9% during the 4th quarter. Venturi Wealth Management LLC now owns 500 shares of the company's stock worth $58,000 after buying an additional 473 shares during the last quarter. Finally, Union Bancaire Privee UBP SA acquired a new position in shares of Chord Energy in the 4th quarter valued at $77,000. Hedge funds and other institutional investors own 97.76% of the company's stock.

Chord Energy Stock Performance

Shares of NASDAQ CHRD opened at $92.00 on Friday. The company has a 50-day simple moving average of $92.96 and a 200-day simple moving average of $108.09. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.93 and a quick ratio of 0.89. The company has a market cap of $5.31 billion, a PE ratio of 4.74, a price-to-earnings-growth ratio of 5.83 and a beta of 0.96. Chord Energy Co. has a 12 month low of $79.83 and a 12 month high of $181.17.

Chord Energy (NASDAQ:CHRD - Get Free Report) last released its earnings results on Tuesday, May 6th. The company reported $4.04 EPS for the quarter, topping the consensus estimate of $3.60 by $0.44. The firm had revenue of $1.22 billion during the quarter, compared to analysts' expectations of $1.07 billion. Chord Energy had a net margin of 19.74% and a return on equity of 12.88%. Chord Energy's revenue for the quarter was up 12.0% on a year-over-year basis. During the same period in the previous year, the company earned $5.10 EPS. On average, equities analysts anticipate that Chord Energy Co. will post 15.59 earnings per share for the current year.

Chord Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 9th. Stockholders of record on Wednesday, May 21st will be paid a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a dividend yield of 5.65%. The ex-dividend date of this dividend is Wednesday, May 21st. Chord Energy's dividend payout ratio is presently 34.78%.

Analyst Ratings Changes

Several brokerages recently commented on CHRD. Bank of America cut their price target on shares of Chord Energy from $114.00 to $112.00 and set a "buy" rating on the stock in a research note on Friday, May 23rd. Royal Bank of Canada decreased 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. Morgan Stanley set a $139.00 price target on Chord Energy and gave the stock a "cautious" rating in a report on Wednesday, March 26th. Wells Fargo & Company reduced their price objective on Chord Energy from $166.00 to $158.00 and set an "overweight" rating for the company in a research note on Tuesday, April 15th. Finally, Citigroup lowered their target price on Chord Energy from $135.00 to $120.00 and set a "buy" rating on the stock in a research note on Monday, April 7th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Chord Energy has a consensus rating of "Moderate Buy" and a consensus target price of $153.77.

Insiders Place Their Bets

In other Chord Energy news, EVP Shannon Browning Kinney sold 3,091 shares of the stock in a transaction that occurred on Thursday, May 8th. The stock was sold at an average price of $94.10, for a total transaction of $290,863.10. Following the transaction, the executive vice president now owns 21,277 shares of the company's stock, valued at $2,002,165.70. This trade represents a 12.68% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.70% of the stock is owned by company 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.

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