Perigon Wealth Management LLC Raises Stock Position in Chord Energy Corporation (NASDAQ:CHRD)

Perigon Wealth Management LLC raised its position in Chord Energy Corporation (NASDAQ:CHRD - Free Report) by 56.9% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 35,642 shares of the company's stock after acquiring an additional 12,925 shares during the quarter. Perigon Wealth Management LLC owned approximately 0.06% of Chord Energy worth $4,018,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Altshuler Shaham Ltd purchased a new position in shares of Chord Energy in the 4th quarter valued at 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 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 worth $37,000 after buying an additional 224 shares during the last quarter. Pilgrim Partners Asia Pte Ltd acquired a new position in shares of Chord Energy in the 4th quarter valued at $80,000. Finally, Fifth Third Bancorp boosted its holdings in shares of Chord Energy by 195.8% in the 1st quarter. Fifth Third Bancorp now owns 698 shares of the company's stock valued at $79,000 after buying an additional 462 shares in the last quarter. Hedge funds and other institutional investors own 97.76% of the company's stock.

Chord Energy Stock Performance

Shares of NASDAQ:CHRD traded down $1.85 during midday trading on Monday, hitting $96.85. The stock had a trading volume of 669,100 shares, compared to its average volume of 856,028. Chord Energy Corporation has a 1 year low of $79.83 and a 1 year 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. The stock has a 50 day moving average price of $95.77 and a two-hundred day moving average price of $105.01. The company has a market capitalization of $5.59 billion, a PE ratio of 6.48 and a beta of 0.96.

Chord Energy (NASDAQ:CHRD - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The company reported $4.04 EPS for the quarter, beating analysts' consensus estimates of $3.60 by $0.44. The firm had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.07 billion. Chord Energy had a net margin of 16.15% and a return on equity of 10.34%. The firm's revenue was up 12.0% compared to the same quarter last year. During the same quarter last year, the firm earned $5.10 earnings per share. As a group, equities analysts predict that Chord Energy Corporation will post 15.59 earnings per share for the current fiscal year.

Chord Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 9th. Investors of record on Wednesday, May 21st were issued a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a yield of 5.37%. The ex-dividend date of this dividend was Wednesday, May 21st. Chord Energy's dividend payout ratio is presently 34.78%.

Insiders Place Their Bets

In other Chord Energy 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 value of $290,863.10. Following the completion of the sale, the executive vice president owned 21,277 shares of the company's stock, valued at approximately $2,002,165.70. This trade represents a 12.68% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.70% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Wall Street Zen raised shares of Chord Energy from a "sell" rating to a "hold" rating in a research report on Friday. Mizuho reduced their target price on Chord Energy from $154.00 to $150.00 and set an "outperform" rating for the company in a report on Tuesday, May 13th. Morgan Stanley set a $139.00 target price on Chord Energy and gave the company a "cautious" rating in a research report on Wednesday, March 26th. Citigroup cut their price target on Chord Energy from $135.00 to $120.00 and set a "buy" rating on the stock in a research report on Monday, April 7th. Finally, Royal Bank Of Canada decreased their price objective on Chord Energy from $165.00 to $145.00 and set an "outperform" rating for the company in a report on Friday, April 11th. One analyst has rated the stock with a sell rating, two have issued a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Chord Energy has a consensus rating of "Moderate Buy" and a consensus price target of $152.54.

About Chord Energy

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.