Chord Energy Co. (NASDAQ:CHRD) Shares Sold by Moran Wealth Management LLC

Moran Wealth Management LLC lessened its stake in shares of Chord Energy Co. (NASDAQ:CHRD - Free Report) by 34.5% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 36,518 shares of the company's stock after selling 19,208 shares during the period. Moran Wealth Management LLC owned approximately 0.06% of Chord Energy worth $4,756,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the stock. Hexagon Capital Partners LLC increased its position in shares of Chord Energy by 462.9% during the third quarter. Hexagon Capital Partners LLC now owns 197 shares of the company's stock worth $26,000 after purchasing an additional 162 shares in the last quarter. UMB Bank n.a. boosted its stake in Chord Energy by 77.7% during the third quarter. UMB Bank n.a. now owns 231 shares of the company's stock worth $30,000 after buying an additional 101 shares during the period. Ashton Thomas Private Wealth LLC purchased a new position in shares of Chord Energy during the 2nd quarter worth approximately $40,000. Benjamin F. Edwards & Company Inc. grew its stake in shares of Chord Energy by 125.9% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 244 shares of the company's stock valued at $41,000 after buying an additional 136 shares in the last quarter. Finally, Spartan Fund Management Inc. purchased a new position in Chord Energy during the 3rd quarter valued at about $34,000. Institutional investors and hedge funds own 97.76% of the company's stock.

Wall Street Analysts Forecast Growth

CHRD has been the subject of several analyst reports. Siebert Williams Shank raised Chord Energy to a "strong-buy" rating in a research note on Tuesday, October 15th. Bank of America boosted their target price on Chord Energy from $201.00 to $208.00 and gave the stock a "buy" rating in a research note on Wednesday, August 21st. Piper Sandler upped their target price on shares of Chord Energy from $211.00 to $212.00 and gave the company an "overweight" rating in a report on Monday. Truist Financial reduced their price target on shares of Chord Energy from $223.00 to $185.00 and set a "buy" rating for the company in a research report on Monday, September 30th. Finally, Wells Fargo & Company cut their target price on Chord Energy from $185.00 to $180.00 and set an "overweight" rating on the stock in a research report on Wednesday, October 16th. Two analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $188.45.

Chord Energy Trading Up 1.7 %

Chord Energy stock traded up $2.19 during midday trading on Thursday, reaching $132.03. The stock had a trading volume of 305,792 shares, compared to its average volume of 877,189. The stock has a market capitalization of $8.07 billion, a PE ratio of 6.69, a price-to-earnings-growth ratio of 5.14 and a beta of 0.98. Chord Energy Co. has a twelve month low of $123.30 and a twelve month high of $190.23. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.89 and a current ratio of 0.93. The stock's 50-day simple moving average is $131.00 and its 200 day simple moving average is $153.33.

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 (EPS) for the quarter, missing the consensus estimate of $3.63 by ($0.23). The business had revenue of $1.12 billion for the quarter, compared to analysts' expectations of $1.26 billion. Chord Energy had a return on equity of 12.88% and a net margin of 19.74%. Chord Energy's quarterly revenue was up 33.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $5.04 earnings per share. Analysts expect that Chord Energy Co. will post 16.5 EPS for the current year.

Chord Energy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Wednesday, November 27th will be paid a $1.25 dividend. The ex-dividend date is Wednesday, November 27th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 3.79%. Chord Energy's dividend payout ratio (DPR) is currently 25.75%.

Insider Buying and Selling

In other Chord Energy news, Director Samantha Holroyd bought 500 shares of the business's stock in a transaction on Friday, August 23rd. The shares were bought at an average cost of $149.51 per share, with a total value of $74,755.00. Following the transaction, the director now directly owns 14,417 shares in the company, valued at approximately $2,155,485.67. This trade represents a 3.59 % increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.70% of the stock is currently owned by corporate insiders.

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.