Scissortail Wealth Management LLC Makes New Investment in Chord Energy Co. (NASDAQ:CHRD)

Scissortail Wealth Management LLC purchased a new position in shares of Chord Energy Co. (NASDAQ:CHRD - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 3,156 shares of the company's stock, valued at approximately $369,000.

Other institutional investors have also modified their holdings of the company. Delta Capital Management LLC lifted its stake in Chord Energy by 4.3% during the 4th quarter. Delta Capital Management LLC now owns 2,200 shares of the company's stock worth $257,000 after acquiring an additional 90 shares in the last quarter. Gables Capital Management Inc. lifted its position in shares of Chord Energy by 6.9% during the fourth quarter. Gables Capital Management Inc. now owns 1,550 shares of the company's stock worth $181,000 after purchasing an additional 100 shares in the last quarter. Envestnet Portfolio Solutions Inc. lifted its position in shares of Chord Energy by 2.9% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 3,710 shares of the company's stock worth $434,000 after purchasing an additional 106 shares in the last quarter. Exchange Traded Concepts LLC boosted its stake in shares of Chord Energy by 1.8% in the fourth quarter. Exchange Traded Concepts LLC now owns 6,145 shares of the company's stock valued at $718,000 after purchasing an additional 110 shares during the period. Finally, MGO One Seven LLC boosted its stake in shares of Chord Energy by 6.7% in the fourth quarter. MGO One Seven LLC now owns 1,775 shares of the company's stock valued at $208,000 after purchasing an additional 111 shares during the period. 97.76% of the stock is owned by institutional investors and hedge funds.

Chord Energy Stock Up 0.8%

Shares of NASDAQ CHRD opened at $96.67 on Friday. The business has a 50-day moving average of $98.06 and a two-hundred day moving average of $111.66. The company has a market capitalization of $5.58 billion, a price-to-earnings ratio of 4.98, a price-to-earnings-growth ratio of 5.83 and a beta of 0.99. Chord Energy Co. has a 1 year low of $79.83 and a 1 year high of $188.02. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.93 and a quick ratio of 0.89.

Chord Energy (NASDAQ:CHRD - Get Free Report) last posted its earnings results on Tuesday, May 6th. The company reported $4.04 earnings per share for the quarter, topping the consensus estimate of $3.60 by $0.44. The firm had revenue of $1.22 billion during the quarter, compared to analysts' expectations of $1.07 billion. Chord Energy had a return on equity of 12.88% and a net margin of 19.74%. The firm's revenue was up 12.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $5.10 earnings per share. On average, analysts forecast that Chord Energy Co. will post 15.59 earnings per share for the current fiscal year.

Chord Energy Announces Dividend

The business also recently disclosed 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. The ex-dividend date of this dividend is Wednesday, May 21st. This represents a $5.20 annualized dividend and a dividend yield of 5.38%. Chord Energy's dividend payout ratio is presently 34.78%.

Insider Activity

In other news, EVP Shannon Browning Kinney sold 3,091 shares of the business's stock in a transaction dated 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 now directly owns 21,277 shares of the company's stock, valued at approximately $2,002,165.70. The trade was a 12.68% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.70% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on CHRD shares. Piper Sandler reduced their target price on shares of Chord Energy from $184.00 to $183.00 and set an "overweight" rating on the stock in a report on Tuesday, April 22nd. Mizuho reduced their price objective on Chord Energy from $154.00 to $150.00 and set an "outperform" rating on the stock in a research note on Tuesday. Citigroup decreased their target price on Chord Energy from $135.00 to $120.00 and set a "buy" rating for the company in a report on Monday, April 7th. Wells Fargo & Company lowered their target price on Chord Energy from $166.00 to $158.00 and set an "overweight" rating for the company in a research note on Tuesday, April 15th. Finally, Morgan Stanley set a $139.00 price target on Chord Energy and gave the company a "cautious" rating in a research report on Wednesday, March 26th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, Chord Energy has a consensus rating of "Moderate Buy" and an average target price of $153.92.

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.

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