Blue Trust Inc. Acquires 128 Shares of Chord Energy Co. (NASDAQ:CHRD)

Blue Trust Inc. boosted its position in Chord Energy Co. (NASDAQ:CHRD) by 4.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,334 shares of the company’s stock after purchasing an additional 128 shares during the quarter. Blue Trust Inc.’s holdings in Chord Energy were worth $390,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Hexagon Capital Partners LLC lifted its stake in Chord Energy by 462.9% in the 3rd 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. Stone House Investment Management LLC purchased a new stake in Chord Energy in the 3rd quarter worth approximately $26,000. UMB Bank n.a. lifted its stake in Chord Energy by 77.7% in the 3rd quarter. UMB Bank n.a. now owns 231 shares of the company’s stock worth $30,000 after purchasing an additional 101 shares in the last quarter. Brooklyn Investment Group purchased a new stake in Chord Energy in the 4th quarter worth approximately $29,000. Finally, Spartan Fund Management Inc. purchased a new stake in Chord Energy in the 3rd quarter worth approximately $34,000. 97.76% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

CHRD has been the topic of several research reports. Bank of America restated a “neutral” rating and set a $138.00 price objective (down previously from $208.00) on shares of Chord Energy in a research report on Monday, January 13th. Royal Bank of Canada lowered their price objective on shares of Chord Energy from $185.00 to $180.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 20th. Morgan Stanley initiated coverage on shares of Chord Energy in a research report on Friday, January 10th. They set an “equal weight” rating and a $158.00 price objective on the stock. Siebert Williams Shank upgraded shares of Chord Energy to a “strong-buy” rating in a research report on Tuesday, October 15th. Finally, Wells Fargo & Company lowered their price objective on shares of Chord Energy from $176.00 to $175.00 and set an “overweight” rating on the stock in a research 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 issued a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $173.08.

Chord Energy Price Performance

Shares of Chord Energy stock opened at $112.45 on Friday. The firm has a market cap of $6.87 billion, a PE ratio of 5.79, a price-to-earnings-growth ratio of 5.89 and a beta of 0.99. Chord Energy Co. has a 12-month low of $109.59 and a 12-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 company’s fifty day simple moving average is $120.01 and its two-hundred day simple moving average is $133.97.

Chord Energy (NASDAQ:CHRD) last announced its quarterly earnings results on Wednesday, November 6th. The company reported $3.40 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.63 by ($0.23). The firm had revenue of $1.12 billion during the quarter, compared to the consensus estimate of $1.26 billion. Chord Energy had a return on equity of 12.88% and a net margin of 19.74%. Chord Energy’s revenue was up 33.4% on a year-over-year basis. During the same period last year, the business earned $5.04 EPS. As a group, equities analysts expect that Chord Energy Co. will post 15.59 EPS for the current year.

Chord Energy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Wednesday, November 27th were issued a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a yield of 4.45%. The ex-dividend date of this dividend was Wednesday, November 27th. Chord Energy’s dividend payout ratio (DPR) is presently 25.75%.

Insiders Place Their Bets

In other news, CAO Shannon Browning Kinney sold 1,000 shares of Chord Energy stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $116.35, for a total transaction of $116,350.00. Following the sale, the chief accounting officer now owns 19,488 shares of the company’s stock, valued at approximately $2,267,428.80. The trade was a 4.88 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.70% of the company’s stock.

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.