Brooklyn Investment Group Makes New $29,000 Investment in Chord Energy Co. (NASDAQ:CHRD)

Brooklyn Investment Group bought a new position in shares of Chord Energy Co. (NASDAQ:CHRD) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 246 shares of the company’s stock, valued at approximately $29,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Albert D Mason Inc. lifted its holdings in Chord Energy by 70.9% during the fourth quarter. Albert D Mason Inc. now owns 5,543 shares of the company’s stock worth $648,000 after acquiring an additional 2,299 shares in the last quarter. Merit Financial Group LLC bought a new position in Chord Energy during the fourth quarter worth about $553,000. Tallon Kerry Patrick bought a new position in Chord Energy during the fourth quarter worth about $204,000. Hennion & Walsh Asset Management Inc. lifted its holdings in Chord Energy by 5.3% during the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 5,622 shares of the company’s stock worth $657,000 after acquiring an additional 284 shares in the last quarter. Finally, Kings Path Partners LLC acquired a new stake in shares of Chord Energy in the 4th quarter valued at about $117,000. 97.76% of the stock is currently owned by institutional investors.

Insider Transactions at Chord Energy

In related news, CAO Shannon Browning Kinney sold 1,000 shares of the firm’s 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 transaction, the chief accounting officer now directly owns 19,488 shares of the company’s stock, valued at approximately $2,267,428.80. This trade represents a 4.88 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.70% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Wolfe Research raised Chord Energy from a “peer perform” rating to an “outperform” rating and set a $155.00 price target on the stock in a research note on Friday, January 3rd. UBS Group dropped their price target on Chord Energy from $168.00 to $161.00 and set a “buy” rating on the stock in a research note on Monday, December 9th. Morgan Stanley assumed coverage on Chord Energy in a research note on Friday, January 10th. They issued an “equal weight” rating and a $158.00 price target on the stock. Wells Fargo & Company dropped their price target on Chord Energy from $176.00 to $175.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 15th. Finally, Piper Sandler dropped their price target on Chord Energy from $194.00 to $193.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 15th. Three research 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. According to data from MarketBeat.com, Chord Energy currently has an average rating of “Moderate Buy” and a consensus target price of $173.08.

Chord Energy Stock Up 0.0 %

CHRD stock opened at $126.31 on Tuesday. 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 business’s 50 day simple moving average is $122.16 and its 200 day simple moving average is $137.09. Chord Energy Co. has a 1-year low of $109.59 and a 1-year high of $190.23. The firm has a market capitalization of $7.72 billion, a PE ratio of 6.50, a PEG ratio of 5.57 and a beta of 0.99.

Chord Energy (NASDAQ:CHRD) last posted its 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 company had revenue of $1.12 billion for the quarter, compared to analyst estimates of $1.26 billion. Chord Energy had a return on equity of 12.88% and a net margin of 19.74%. The business’s quarterly revenue was up 33.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $5.04 EPS. As a group, research analysts anticipate that Chord Energy Co. will post 16.33 EPS for the current year.

Chord Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Wednesday, November 27th were paid a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a dividend yield of 3.96%. The ex-dividend date was Wednesday, November 27th. Chord Energy’s dividend payout ratio is presently 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.