Exchange Traded Concepts LLC Sells 5,540 Shares of Chord Energy Corporation (NASDAQ:CHRD)

Exchange Traded Concepts LLC cut its stake in shares of Chord Energy Corporation (NASDAQ:CHRD - Free Report) by 90.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 605 shares of the company's stock after selling 5,540 shares during the quarter. Exchange Traded Concepts LLC's holdings in Chord Energy were worth $68,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Altshuler Shaham Ltd bought a new position in shares of Chord Energy in the fourth quarter valued at $25,000. Twin Tree Management LP purchased a new position in shares of Chord Energy in the fourth quarter worth about $33,000. Larson Financial Group LLC increased its stake in shares of Chord Energy by 238.3% in 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 increased its stake in shares of Chord Energy by 1,751.9% in the fourth quarter. Venturi Wealth Management LLC now owns 500 shares of the company's stock worth $58,000 after purchasing an additional 473 shares in the last quarter. Finally, Union Bancaire Privee UBP SA purchased a new position in Chord Energy during the fourth quarter valued at approximately $77,000. 97.76% of the stock is owned by institutional investors.

Chord Energy Stock Performance

Shares of CHRD stock opened at $98.50 on Wednesday. Chord Energy Corporation has a one year low of $79.83 and a one year high of $181.17. The company's 50-day moving average is $95.37 and its 200 day moving average is $105.69. The company has a market capitalization of $5.69 billion, a price-to-earnings ratio of 6.59, a price-to-earnings-growth ratio of 6.92 and a beta of 0.96. 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 announced its quarterly earnings results on Tuesday, May 6th. The company reported $4.04 EPS for the quarter, topping analysts' consensus estimates of $3.60 by $0.44. Chord Energy had a net margin of 16.15% and a return on equity of 10.34%. The firm had revenue of $1.22 billion during the quarter, compared to analyst estimates of $1.07 billion. During the same period in the previous year, the business posted $5.10 earnings per share. The business's revenue for the quarter was up 12.0% on a year-over-year basis. Sell-side analysts expect that Chord Energy Corporation will post 15.59 EPS for the current fiscal 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 paid a $1.30 dividend. The ex-dividend date was Wednesday, May 21st. This represents a $5.20 dividend on an annualized basis and a dividend yield of 5.28%. Chord Energy's dividend payout ratio is presently 34.78%.

Insider Buying and Selling

In other Chord Energy news, EVP Shannon Browning Kinney sold 3,091 shares of Chord Energy stock in a transaction that occurred on Thursday, May 8th. The shares were 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. The trade was a 12.68% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.70% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Mizuho reduced their price objective on shares of Chord Energy from $154.00 to $150.00 and set an "outperform" rating for the company in a research note on Tuesday, May 13th. Wells Fargo & Company lowered their price objective 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. Bank of America lowered their price target on shares of Chord Energy from $114.00 to $112.00 and set a "buy" rating for the company in a report on Friday, May 23rd. Piper Sandler lowered their price target 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. Finally, Royal Bank Of Canada reduced their price objective on shares of Chord Energy from $165.00 to $145.00 and set an "outperform" rating on the stock in a research report on Friday, April 11th. Two 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 assigned a strong buy rating to the stock. According to data from MarketBeat, Chord Energy has an average rating of "Moderate Buy" and a consensus target price of $152.54.

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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