Monument Capital Management Takes Position in Chord Energy Co. (NASDAQ:CHRD)

Monument Capital Management acquired a new stake in Chord Energy Co. (NASDAQ:CHRD - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 12,241 shares of the company's stock, valued at approximately $2,035,000.

Other hedge funds also recently added to or reduced their stakes in the company. Contravisory Investment Management Inc. grew its stake in shares of Chord Energy by 48.9% during the fourth quarter. Contravisory Investment Management Inc. now owns 259 shares of the company's stock valued at $43,000 after acquiring an additional 85 shares in the last quarter. Lindbrook Capital LLC grew its stake in shares of Chord Energy by 67.6% during the fourth quarter. Lindbrook Capital LLC now owns 305 shares of the company's stock valued at $51,000 after acquiring an additional 123 shares in the last quarter. Viking Fund Management LLC grew its stake in shares of Chord Energy by 40.0% during the fourth quarter. Viking Fund Management LLC now owns 350 shares of the company's stock valued at $58,000 after acquiring an additional 100 shares in the last quarter. Fifth Third Bancorp grew its stake in shares of Chord Energy by 15.4% during the third quarter. Fifth Third Bancorp now owns 526 shares of the company's stock valued at $85,000 after acquiring an additional 70 shares in the last quarter. Finally, Ronald Blue Trust Inc. grew its stake in shares of Chord Energy by 361.9% during the third quarter. Ronald Blue Trust Inc. now owns 910 shares of the company's stock valued at $140,000 after acquiring an additional 713 shares in the last quarter. 97.76% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CFO Michael H. Lou sold 3,000 shares of the business's stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $154.15, for a total transaction of $462,450.00. Following the sale, the chief financial officer now owns 131,209 shares of the company's stock, valued at $20,225,867.35. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.70% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Piper Sandler lifted their price target on Chord Energy from $219.00 to $230.00 and gave the stock an "overweight" rating in a research note on Friday. Bank of America downgraded Chord Energy from a "buy" rating to an "underperform" rating and decreased their price target for the stock from $177.00 to $165.00 in a research note on Friday, January 5th. Truist Financial decreased their price target on Chord Energy from $229.00 to $224.00 and set a "buy" rating for the company in a research note on Friday, April 5th. Mizuho lifted their target price on Chord Energy from $189.00 to $195.00 and gave the company a "buy" rating in a research note on Thursday, March 14th. Finally, Stifel Nicolaus lifted their target price on Chord Energy from $178.00 to $211.00 and gave the company a "buy" rating in a research note on Tuesday, February 27th. One research analyst has rated the stock with a sell rating, one has given a hold rating and seven have issued a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $191.50.

Chord Energy Stock Performance

Shares of CHRD traded up $2.10 during mid-day trading on Monday, reaching $182.10. 524,727 shares of the company's stock traded hands, compared to its average volume of 672,110. The business's 50-day moving average price is $170.56 and its 200-day moving average price is $164.66. The stock has a market capitalization of $7.56 billion, a P/E ratio of 7.74 and a beta of 1.06. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.16 and a current ratio of 1.22. Chord Energy Co. has a 12 month low of $133.34 and a 12 month high of $190.23.

Chord Energy (NASDAQ:CHRD - Get Free Report) last released its quarterly earnings results on Wednesday, February 21st. The company reported $5.25 earnings per share for the quarter, beating analysts' consensus estimates of $5.04 by $0.21. The company had revenue of $964.69 million for the quarter, compared to analysts' expectations of $891.67 million. Chord Energy had a return on equity of 16.35% and a net margin of 26.27%. Equities analysts predict that Chord Energy Co. will post 21.6 earnings per share for the current year.

Chord Energy Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 19th. Investors of record on Tuesday, March 5th were issued a dividend of $3.25 per share. This is a boost from Chord Energy's previous quarterly dividend of $1.25. The ex-dividend date was Monday, March 4th. This represents a $13.00 annualized dividend and a yield of 7.14%. Chord Energy's payout ratio is presently 21.25%.

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.