Avidian Wealth Enterprises LLC Purchases Shares of 5,147 Chord Energy Co. (NASDAQ:CHRD)

Avidian Wealth Enterprises LLC purchased a new position in shares of Chord Energy Co. (NASDAQ:CHRD - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 5,147 shares of the company's stock, valued at approximately $602,000.

A number of other institutional investors have also recently bought and sold shares of CHRD. Portfolio Design Labs LLC grew its stake in shares of Chord Energy by 32.6% in the 4th quarter. Portfolio Design Labs LLC now owns 29,175 shares of the company's stock valued at $3,411,000 after purchasing an additional 7,165 shares during the period. Entropy Technologies LP acquired a new stake in Chord Energy in the 4th quarter valued at $208,000. Kingsview Wealth Management LLC grew its position in Chord Energy by 55.3% in the fourth quarter. Kingsview Wealth Management LLC now owns 21,744 shares of the company's stock valued at $2,542,000 after acquiring an additional 7,743 shares during the period. Tectonic Advisors LLC raised its stake in Chord Energy by 2.1% during the fourth quarter. Tectonic Advisors LLC now owns 8,443 shares of the company's stock worth $987,000 after acquiring an additional 176 shares in the last quarter. Finally, Y.D. More Investments Ltd bought a new position in shares of Chord Energy during the fourth quarter valued at $118,000. Institutional investors and hedge funds own 97.76% of the company's stock.

Chord Energy Trading Up 0.7 %

CHRD stock traded up $0.74 during midday trading on Friday, reaching $110.93. The stock had a trading volume of 641,472 shares, compared to its average volume of 721,197. The firm has a market cap of $6.78 billion, a price-to-earnings ratio of 5.71, a PEG ratio of 5.46 and a beta of 0.98. Chord Energy Co. has a twelve month low of $107.24 and a twelve month high of $190.23. The company has a quick ratio of 0.89, a current ratio of 0.93 and a debt-to-equity ratio of 0.10. The business has a fifty day simple moving average of $117.12 and a two-hundred day simple moving average of $129.35.

Chord Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Wednesday, November 27th were given a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a dividend yield of 4.51%. The ex-dividend date was Wednesday, November 27th. Chord Energy's dividend payout ratio is 25.75%.

Insider Buying and Selling

In other news, CAO Shannon Browning Kinney sold 1,000 shares of the firm's stock in a transaction on Monday, December 16th. The stock was sold at an average price of $116.35, for a total value of $116,350.00. Following the transaction, the chief accounting officer now directly owns 19,488 shares in the company, valued at $2,267,428.80. This trade represents a 4.88 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.70% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

CHRD has been the topic of several analyst reports. Wells Fargo & Company lowered their target price on shares of Chord Energy from $176.00 to $175.00 and set an "overweight" rating on the stock in a report on Wednesday, January 15th. Wolfe Research raised shares of Chord Energy from a "peer perform" rating to an "outperform" rating and set a $155.00 price objective for the company in a report on Friday, January 3rd. UBS Group reduced their target price on Chord Energy from $168.00 to $161.00 and set a "buy" rating on the stock in a report on Monday, December 9th. Royal Bank of Canada dropped their price target on Chord Energy from $185.00 to $180.00 and set an "outperform" rating for the company in a report on Wednesday, November 20th. Finally, Morgan Stanley started coverage on Chord Energy in a research note on Friday, January 10th. They issued an "equal weight" rating and a $158.00 price objective on the stock. Three equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $173.08.

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.