Tealwood Asset Management Inc. Purchases 6,288 Shares of Chord Energy Co. (NASDAQ:CHRD)

Tealwood Asset Management Inc. boosted its position in Chord Energy Co. (NASDAQ:CHRD - Free Report) by 197.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 9,477 shares of the company's stock after acquiring an additional 6,288 shares during the quarter. Tealwood Asset Management Inc.'s holdings in Chord Energy were worth $1,068,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Altshuler Shaham Ltd bought a new position in Chord Energy in the fourth quarter valued at approximately $25,000. Twin Tree Management LP acquired a new stake in Chord Energy in the fourth quarter valued at approximately $33,000. Larson Financial Group LLC boosted its position in Chord Energy by 238.3% in the fourth 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 boosted its position in Chord Energy by 1,751.9% in the fourth quarter. Venturi Wealth Management LLC now owns 500 shares of the company's stock valued at $58,000 after buying an additional 473 shares in the last quarter. Finally, Union Bancaire Privee UBP SA acquired a new stake in Chord Energy in the fourth quarter valued at approximately $77,000. 97.76% of the stock is owned by institutional investors.

Insider Transactions at Chord Energy

In other news, EVP Shannon Browning Kinney sold 3,091 shares of the business's stock in a transaction dated Thursday, May 8th. The shares were sold at an average price of $94.10, for a total transaction of $290,863.10. Following the completion of the sale, the executive vice president now directly 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 transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.70% of the stock is currently owned by insiders.

Chord Energy Price Performance

CHRD stock opened at $94.89 on Friday. The firm has a market cap of $5.48 billion, a price-to-earnings ratio of 4.89, a PEG ratio of 5.83 and a beta of 0.96. The company has a quick ratio of 0.89, a current ratio of 0.93 and a debt-to-equity ratio of 0.10. Chord Energy Co. has a 12-month low of $79.83 and a 12-month high of $181.17. The company's fifty day simple moving average is $92.61 and its 200 day simple moving average is $107.86.

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 net margin of 19.74% and a return on equity of 12.88%. The firm had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.07 billion. During the same period in the previous year, the firm posted $5.10 earnings per share. The business's revenue was up 12.0% compared to the same quarter last year. On average, analysts expect that Chord Energy Co. will post 15.59 earnings per share for the current year.

Chord Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 9th. Stockholders of record on Wednesday, May 21st will be given a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a dividend yield of 5.48%. The ex-dividend date is Wednesday, May 21st. Chord Energy's payout ratio is presently 34.78%.

Analyst Ratings Changes

CHRD has been the topic of a number of research analyst reports. Mizuho cut 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. Citigroup cut their target price on shares of Chord Energy from $135.00 to $120.00 and set a "buy" rating on the stock in a research report on Monday, April 7th. Piper Sandler cut their target price on shares of Chord Energy from $184.00 to $183.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 22nd. Morgan Stanley set a $139.00 price target on shares of Chord Energy and gave the stock a "cautious" rating in a report on Wednesday, March 26th. Finally, Williams Trading set a $155.00 price target on shares of Chord Energy in a report on Wednesday, March 5th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $153.77.

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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