Scissortail Wealth Management LLC Purchases Shares of 3,156 Chord Energy Co. (NASDAQ:CHRD)

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

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

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on CHRD. Citigroup dropped their target price on shares of Chord Energy from $135.00 to $120.00 and set a "buy" rating for the company in a research report on Monday, April 7th. Wells Fargo & Company reduced their target price on Chord Energy from $166.00 to $158.00 and set an "overweight" rating on the stock in a report on Tuesday, April 15th. Morgan Stanley set a $139.00 price objective on Chord Energy and gave the stock a "cautious" rating in a research note on Wednesday, March 26th. Mizuho dropped their target price on shares of Chord Energy from $154.00 to $150.00 and set an "outperform" rating on the stock in a report on Tuesday, May 13th. Finally, Royal Bank of Canada decreased their price target on shares of Chord Energy from $165.00 to $145.00 and set an "outperform" rating for the company in a report on Friday, April 11th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $153.92.

Insider Activity

In other news, EVP Shannon Browning Kinney sold 3,091 shares of the business's stock in a transaction on Thursday, May 8th. The stock was 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 owns 21,277 shares in the company, 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 through this link. 0.70% of the stock is currently owned by company insiders.

Chord Energy Price Performance

Shares of NASDAQ CHRD traded down $0.70 during midday trading on Thursday, reaching $89.84. The company's stock had a trading volume of 226,689 shares, compared to its average volume of 979,885. Chord Energy Co. has a one year low of $79.83 and a one year high of $188.02. The company has a market cap of $5.19 billion, a price-to-earnings ratio of 4.62, a price-to-earnings-growth ratio of 5.83 and a beta of 0.99. The company has a current ratio of 0.93, a quick ratio of 0.89 and a debt-to-equity ratio of 0.10. The company has a 50 day moving average price of $97.36 and a 200 day moving average price of $111.00.

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

Chord Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 9th. Investors of record on Wednesday, May 21st will be paid a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a dividend yield of 5.79%. The ex-dividend date is Wednesday, May 21st. Chord Energy's payout ratio is 34.78%.

Chord Energy 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.