LPL Financial LLC Has $2.49 Million Stock Holdings in Chord Energy Corporation $CHRD

Key Points

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LPL Financial LLC increased its holdings in Chord Energy Corporation (NASDAQ:CHRD - Free Report) by 22.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,101 shares of the company's stock after purchasing an additional 4,069 shares during the quarter. LPL Financial LLC's holdings in Chord Energy were worth $2,491,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Townsquare Capital LLC increased its position in shares of Chord Energy by 51.3% in the fourth quarter. Townsquare Capital LLC now owns 3,328 shares of the company's stock worth $389,000 after acquiring an additional 1,129 shares in the last quarter. Mariner LLC increased its position in shares of Chord Energy by 42.7% in the fourth quarter. Mariner LLC now owns 5,207 shares of the company's stock worth $609,000 after acquiring an additional 1,559 shares in the last quarter. Commerce Bank increased its position in shares of Chord Energy by 36.8% in the fourth quarter. Commerce Bank now owns 3,231 shares of the company's stock worth $378,000 after acquiring an additional 870 shares in the last quarter. First Trust Advisors LP increased its position in shares of Chord Energy by 31.8% in the fourth quarter. First Trust Advisors LP now owns 415,219 shares of the company's stock worth $48,547,000 after acquiring an additional 100,197 shares in the last quarter. Finally, MetLife Investment Management LLC increased its position in shares of Chord Energy by 7.8% in the fourth quarter. MetLife Investment Management LLC now owns 34,466 shares of the company's stock worth $4,030,000 after acquiring an additional 2,484 shares in the last quarter. 97.76% of the stock is currently owned by institutional investors.

Chord Energy Stock Up 3.9%

Shares of CHRD stock traded up $3.93 during trading on Friday, hitting $105.93. 660,381 shares of the company were exchanged, compared to its average volume of 795,202. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.90 and a current ratio of 0.97. The firm has a market capitalization of $6.07 billion, a price-to-earnings ratio of 26.95 and a beta of 0.97. The business's 50-day simple moving average is $104.50 and its 200 day simple moving average is $101.67. Chord Energy Corporation has a twelve month low of $79.83 and a twelve month high of $154.75.

Chord Energy (NASDAQ:CHRD - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The company reported $1.79 EPS for the quarter, missing the consensus estimate of $1.88 by ($0.09). The company had revenue of $1.18 billion for the quarter, compared to analyst estimates of $984.07 million. Chord Energy had a return on equity of 9.02% and a net margin of 5.02%.The business's revenue for the quarter was up 5.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $4.69 earnings per share. As a group, analysts forecast that Chord Energy Corporation will post 15.59 EPS for the current fiscal year.

Chord Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 8th. Shareholders of record on Thursday, August 21st will be paid a $1.30 dividend. The ex-dividend date is Thursday, August 21st. This represents a $5.20 dividend on an annualized basis and a yield of 4.9%. Chord Energy's payout ratio is 132.32%.

Wall Street Analysts Forecast Growth

CHRD has been the topic of several analyst reports. Wall Street Zen downgraded shares of Chord Energy from a "hold" rating to a "sell" rating in a research report on Friday, July 18th. Piper Sandler lifted their target price on shares of Chord Energy from $164.00 to $166.00 and gave the stock an "overweight" rating in a research report on Thursday, August 14th. Wells Fargo & Company lifted their target price on shares of Chord Energy from $143.00 to $146.00 and gave the stock an "overweight" rating in a research report on Friday, August 15th. UBS Group lifted their target price on shares of Chord Energy from $120.00 to $122.00 and gave the stock a "buy" rating in a research report on Wednesday. Finally, Mizuho dropped their target price on shares of Chord Energy from $154.00 to $150.00 and set an "outperform" rating on the stock in a research report on Tuesday, May 13th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Chord Energy has a consensus rating of "Moderate Buy" and a consensus price target of $148.92.

Insider Transactions at Chord Energy

In other Chord Energy news, EVP Shannon Browning Kinney sold 1,000 shares of Chord Energy stock in a transaction that occurred on Thursday, August 14th. The shares were sold at an average price of $101.64, for a total value of $101,640.00. Following the completion of the sale, the executive vice president directly owned 17,669 shares in the company, valued at $1,795,877.16. The trade was a 5.36% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through 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.