Wealth Enhancement Advisory Services LLC Sells 12,486 Shares of Chord Energy Corporation $CHRD

Key Points

• Wealth Enhancement Advisory Services LLC cut its stake in Chord Energy by 61.1%, selling 12,486 shares in Q4 and now holds 7,935 shares valued at about $713,000.
• Company insiders sold 23,927 shares (~$2.91M) over the last quarter — including CAO Lara J. Kroll (5,000 shares) and Director Douglas E. Brooks (2,126 shares) — leaving insiders with roughly 0.70% ownership.
• Analysts are generally positive with a MarketBeat average rating of Moderate Buy and an average target of $145.08; Chord also pays a quarterly dividend of $1.30 (annualized $5.20, ~3.9% yield) despite a very high payout ratio (~825%).

Wealth Enhancement Advisory Services LLC lowered its stake in shares of Chord Energy Corporation (NASDAQ:CHRD - Free Report) by 61.1% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 7,935 shares of the company's stock after selling 12,486 shares during the period. Wealth Enhancement Advisory Services LLC's holdings in Chord Energy were worth $713,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in CHRD. Citigroup Inc. raised its stake in Chord Energy by 31.1% in the 3rd quarter. Citigroup Inc. now owns 111,590 shares of the company's stock valued at $11,089,000 after acquiring an additional 26,499 shares during the period. Massachusetts Financial Services Co. MA bought a new stake in Chord Energy in the 3rd quarter valued at $91,434,000. Wedge Capital Management L L P NC bought a new stake in Chord Energy in the 3rd quarter valued at $13,092,000. AlphaQuest LLC raised its stake in Chord Energy by 1,576.7% in the 3rd quarter. AlphaQuest LLC now owns 27,933 shares of the company's stock valued at $2,776,000 after acquiring an additional 26,267 shares during the period. Finally, Picton Mahoney Asset Management raised its stake in Chord Energy by 40.4% in the 3rd quarter. Picton Mahoney Asset Management now owns 50,008 shares of the company's stock valued at $4,971,000 after acquiring an additional 14,395 shares during the period. Institutional investors own 97.76% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. Wall Street Zen upgraded Chord Energy from a "sell" rating to a "hold" rating in a research note on Saturday, March 28th. Jefferies Financial Group set a $99.00 price target on Chord Energy in a research note on Saturday, January 17th. UBS Group increased their price target on Chord Energy from $119.00 to $142.00 and gave the company a "buy" rating in a research note on Thursday, March 5th. Zacks Research upgraded Chord Energy from a "hold" rating to a "strong-buy" rating in a research note on Monday. Finally, Truist Financial assumed coverage on Chord Energy in a research note on Tuesday, March 24th. They issued a "buy" rating and a $169.00 price target on the stock. Two analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and four have given a Hold rating to the company's stock. Based on data from MarketBeat, Chord Energy has an average rating of "Moderate Buy" and an average target price of $145.08.

Insider Transactions at Chord Energy

In other Chord Energy news, CAO Lara J. Kroll sold 5,000 shares of the stock in a transaction on Tuesday, March 3rd. The stock was sold at an average price of $113.66, for a total transaction of $568,300.00. Following the transaction, the chief accounting officer owned 8,921 shares in the company, valued at $1,013,960.86. This trade represents a 35.92% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Douglas E. Brooks sold 2,126 shares of the stock in a transaction on Friday, March 6th. The stock was sold at an average price of $120.28, for a total value of $255,715.28. Following the sale, the director directly owned 25,181 shares in the company, valued at approximately $3,028,770.68. This trade represents a 7.79% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 23,927 shares of company stock worth $2,912,028 over the last quarter. 0.70% of the stock is currently owned by corporate insiders.

Chord Energy Stock Down 7.2%

CHRD stock opened at $134.93 on Thursday. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.06 and a quick ratio of 0.98. The stock has a market capitalization of $7.65 billion, a price-to-earnings ratio of 214.17 and a beta of 0.66. The business's fifty day moving average price is $118.27 and its two-hundred day moving average price is $102.17. Chord Energy Corporation has a fifty-two week low of $79.83 and a fifty-two week high of $148.41.

Chord Energy (NASDAQ:CHRD - Get Free Report) last posted its quarterly earnings data on Wednesday, February 25th. The company reported $1.28 earnings per share for the quarter, topping the consensus estimate of $1.17 by $0.11. The firm had revenue of $1.17 billion for the quarter, compared to analysts' expectations of $1.03 billion. Chord Energy had a return on equity of 6.71% and a net margin of 0.91%.The company's quarterly revenue was down 19.6% compared to the same quarter last year. During the same quarter last year, the business earned $3.49 EPS. On average, equities analysts anticipate that Chord Energy Corporation will post 15.59 earnings per share for the current year.

Chord Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 27th. Shareholders of record on Thursday, March 12th were given a dividend of $1.30 per share. The ex-dividend date was Thursday, March 12th. This represents a $5.20 annualized dividend and a yield of 3.9%. Chord Energy's dividend payout ratio (DPR) is presently 825.40%.

About Chord Energy

Chord Energy Corporation NASDAQ: CHRD, formerly known as Oasis Petroleum Inc, is an independent exploration and production company focused on the acquisition, development and production of crude oil, natural gas and natural gas liquids. Headquartered in Houston, Texas, Chord Energy emerged from financial restructuring in early 2021 and rebranded in October 2022 to reflect its renewed strategic vision.

The company’s core operations are concentrated in two prolific U.S. resource plays: the Williston Basin across North Dakota and Montana, and the Delaware Basin spanning parts of West Texas and southeastern New Mexico.

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