Exchange Traded Concepts LLC Has $68,000 Stock Position in Chord Energy Corporation (NASDAQ:CHRD)

Exchange Traded Concepts LLC reduced its stake in shares of Chord Energy Corporation (NASDAQ:CHRD - Free Report) by 90.2% during the first 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 reporting period.

Other institutional investors have also bought and sold shares of the company. Sanctuary Advisors LLC raised its holdings in Chord Energy by 34.7% during the fourth quarter. Sanctuary Advisors LLC now owns 6,926 shares of the company's stock worth $801,000 after purchasing an additional 1,785 shares in the last quarter. Venturi Wealth Management LLC increased 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 valued at $58,000 after purchasing an additional 473 shares during the period. Union Bancaire Privee UBP SA bought a new stake in shares of Chord Energy in the 4th quarter worth $77,000. Proficio Capital Partners LLC bought a new stake in shares of Chord Energy in the 4th quarter worth $3,540,000. Finally, Versor Investments LP acquired a new stake in shares of Chord Energy in the fourth quarter valued at $737,000. Institutional investors and hedge funds own 97.76% of the company's stock.

Analyst Ratings Changes

CHRD has been the topic of a number of research analyst reports. Morgan Stanley set a $139.00 target price on Chord Energy and gave the stock a "cautious" rating in a report on Wednesday, March 26th. Williams Trading set a $155.00 price objective on shares of Chord Energy in a research note on Wednesday, March 5th. Bank of America dropped their target price on shares of Chord Energy from $114.00 to $112.00 and set a "buy" rating on the stock in a report on Friday, May 23rd. Royal Bank Of Canada reduced their target price on shares of Chord Energy from $165.00 to $145.00 and set an "outperform" rating for the company in a report on Friday, April 11th. Finally, Wells Fargo & Company decreased their price target on shares of Chord Energy from $158.00 to $142.00 and set an "overweight" rating on the stock in a research report on Monday, June 16th. One analyst has rated the stock with a sell rating, two have given a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, Chord Energy currently has a consensus rating of "Moderate Buy" and an average price target of $152.54.

Chord Energy Stock Down 0.7%

NASDAQ:CHRD traded down $0.65 during trading hours on Friday, hitting $98.70. 864,834 shares of the stock traded hands, compared to its average volume of 856,775. The firm has a 50 day moving average price of $95.69 and a 200 day moving average price of $105.27. The firm has a market cap of $5.70 billion, a price-to-earnings ratio of 6.60, a PEG ratio of 6.84 and a beta of 0.96. Chord Energy Corporation has a fifty-two week low of $79.83 and a fifty-two week high of $181.17. The company has a current ratio of 0.89, a quick ratio of 0.83 and a debt-to-equity ratio of 0.09.

Chord Energy (NASDAQ:CHRD - Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The company reported $4.04 earnings per share 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 analyst estimates of $1.07 billion. During the same period in the previous year, the firm earned $5.10 earnings per share. Chord Energy's quarterly revenue was up 12.0% on a year-over-year basis. Equities research analysts anticipate that Chord Energy Corporation will post 15.59 earnings per share for the current year.

Chord Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 9th. Stockholders of record on Wednesday, May 21st were issued 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 5.27%. Chord Energy's dividend payout ratio is 34.78%.

Insider Transactions at Chord Energy

In other news, EVP Shannon Browning Kinney sold 3,091 shares of the business's stock in a transaction 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 directly owns 21,277 shares in the company, valued at $2,002,165.70. The trade was a 12.68% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.70% of the stock is owned by insiders.

Chord Energy 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.