Merit Financial Group LLC Buys Shares of 4,726 Chord Energy Co. (NASDAQ:CHRD)

Merit Financial Group LLC bought a new position in shares of Chord Energy Co. (NASDAQ:CHRD - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 4,726 shares of the company's stock, valued at approximately $553,000.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Hsbc Holdings PLC increased its position in Chord Energy by 405.6% in the 2nd quarter. Hsbc Holdings PLC now owns 7,812 shares of the company's stock valued at $1,311,000 after buying an additional 6,267 shares in the last quarter. XTX Topco Ltd bought a new stake in shares of Chord Energy during the second quarter valued at approximately $300,000. Benjamin F. Edwards & Company Inc. raised its position in shares of Chord Energy by 125.9% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 244 shares of the company's stock worth $41,000 after purchasing an additional 136 shares during the period. Canada Pension Plan Investment Board acquired a new stake in Chord Energy in the 2nd quarter valued at $3,170,000. Finally, Pacer Advisors Inc. increased its stake in Chord Energy by 61.4% during the 2nd quarter. Pacer Advisors Inc. now owns 14,049 shares of the company's stock valued at $2,356,000 after purchasing an additional 5,345 shares in the last quarter. 97.76% of the stock is owned by institutional investors.

Insider Buying and Selling at Chord Energy

In other news, CAO Shannon Browning Kinney sold 1,000 shares of the firm's stock in a transaction on Monday, December 9th. The shares were sold at an average price of $121.27, for a total transaction of $121,270.00. Following the sale, the chief accounting officer now directly owns 20,488 shares in the company, valued at $2,484,579.76. This trade represents a 4.65 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.70% of the company's stock.

Analyst Upgrades and Downgrades

CHRD has been the topic of several recent research reports. Piper Sandler dropped their price target on shares of Chord Energy from $194.00 to $193.00 and set an "overweight" rating on the stock in a research report on Wednesday, January 15th. Bank of America reaffirmed a "neutral" rating and set a $138.00 target price (down previously from $208.00) on shares of Chord Energy in a research report on Monday, January 13th. UBS Group lowered their price target on Chord Energy from $168.00 to $161.00 and set a "buy" rating for the company in a research report on Monday, December 9th. Wolfe Research raised shares of Chord Energy from a "peer perform" rating to an "outperform" rating and set a $155.00 price objective on the stock in a report on Friday, January 3rd. Finally, Wells Fargo & Company lowered their target price on shares of Chord Energy from $176.00 to $175.00 and set an "overweight" rating for the company in a report on Wednesday, January 15th. Three research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $173.08.

Chord Energy Stock Performance

CHRD traded down $3.28 during trading hours on Friday, hitting $117.46. The stock had a trading volume of 799,348 shares, compared to its average volume of 653,649. Chord Energy Co. has a 1 year low of $109.59 and a 1 year high of $190.23. The stock has a market cap of $7.18 billion, a PE ratio of 6.05, a price-to-earnings-growth ratio of 6.35 and a beta of 0.99. 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 company's fifty day simple moving average is $121.53 and its 200 day simple moving average is $136.19.

Chord Energy (NASDAQ:CHRD - Get Free Report) last released its quarterly earnings data on Wednesday, November 6th. The company reported $3.40 earnings per share for the quarter, missing the consensus estimate of $3.63 by ($0.23). Chord Energy had a return on equity of 12.88% and a net margin of 19.74%. The business had revenue of $1.12 billion during the quarter, compared to analysts' expectations of $1.26 billion. During the same quarter last year, the business posted $5.04 EPS. The company's quarterly revenue was up 33.4% compared to the same quarter last year. Equities analysts anticipate that Chord Energy Co. will post 15.59 earnings per share for the current year.

Chord Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Wednesday, November 27th were given a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a yield of 4.26%. The ex-dividend date of this dividend was Wednesday, November 27th. Chord Energy's dividend payout ratio (DPR) is 25.75%.

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.