Benson Investment Management Company Inc. Buys New Stake in Chord Energy Co. (NASDAQ:CHRD)

Benson Investment Management Company Inc. purchased a new stake in shares of Chord Energy Co. (NASDAQ:CHRD - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 31,517 shares of the company's stock, valued at approximately $3,553,000. Benson Investment Management Company Inc. owned 0.05% of Chord Energy at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Altshuler Shaham Ltd purchased a new position in Chord Energy during the fourth quarter valued at $25,000. Twin Tree Management LP bought a new position in shares of Chord Energy in the fourth quarter worth about $33,000. Larson Financial Group LLC lifted its position in shares of Chord Energy by 238.3% during the 4th quarter. Larson Financial Group LLC now owns 318 shares of the company's stock valued at $37,000 after buying an additional 224 shares in the last quarter. Venturi Wealth Management LLC grew its stake 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 valued at $58,000 after acquiring an additional 473 shares during the period. Finally, Union Bancaire Privee UBP SA purchased a new stake in Chord Energy in the 4th quarter worth approximately $77,000. 97.76% of the stock is owned by hedge funds and other institutional investors.

Chord Energy Price Performance

Shares of CHRD traded down $0.53 during mid-day trading on Thursday, hitting $92.00. 558,347 shares of the stock were exchanged, compared to its average volume of 911,905. The firm has a 50-day moving average of $93.38 and a two-hundred day moving average of $108.35. Chord Energy Co. has a 52-week low of $79.83 and a 52-week high of $181.17. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.89 and a current ratio of 0.93. 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 0.99.

Chord Energy (NASDAQ:CHRD - Get Free Report) last issued its quarterly earnings data on Tuesday, May 6th. The company reported $4.04 EPS for the quarter, topping analysts' consensus estimates of $3.60 by $0.44. The business 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%. The business's revenue was up 12.0% on a year-over-year basis. During the same period last year, the company posted $5.10 EPS. On average, equities analysts predict that Chord Energy Co. will post 15.59 earnings per share for the current year.

Chord Energy Announces Dividend

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

Wall Street Analyst Weigh In

A number of research firms have weighed in on CHRD. Wall Street Zen lowered shares of Chord Energy from a "hold" rating to a "sell" rating in a research report on Friday, May 30th. Morgan Stanley set a $139.00 target price on shares of Chord Energy and gave the stock a "cautious" rating in a report on Wednesday, March 26th. Bank of America decreased their price target on Chord Energy from $114.00 to $112.00 and set a "buy" rating on the stock in a report on Friday, May 23rd. Piper Sandler dropped their price objective on Chord Energy from $184.00 to $183.00 and set an "overweight" rating for the company in a research note on Tuesday, April 22nd. Finally, Williams Trading set a $155.00 target price on Chord Energy in a research note on Wednesday, March 5th. Two 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 stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $153.77.

Insiders Place Their Bets

In other news, EVP Shannon Browning Kinney sold 3,091 shares of the firm's stock in a transaction 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 in the company, valued at approximately $2,002,165.70. This trade represents a 12.68% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. 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.