Moran Wealth Management LLC Sells 19,208 Shares of Chord Energy Co. (NASDAQ:CHRD)

Moran Wealth Management LLC lowered its position in shares of Chord Energy Co. (NASDAQ:CHRD) by 34.5% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 36,518 shares of the company’s stock after selling 19,208 shares during the quarter. Moran Wealth Management LLC owned approximately 0.06% of Chord Energy worth $4,756,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the company. GAMMA Investing LLC increased its position in shares of Chord Energy by 30.6% during the 3rd quarter. GAMMA Investing LLC now owns 414 shares of the company’s stock worth $54,000 after purchasing an additional 97 shares in the last quarter. Commerce Bank increased its position in shares of Chord Energy by 4.3% during the 3rd quarter. Commerce Bank now owns 2,361 shares of the company’s stock worth $307,000 after purchasing an additional 98 shares in the last quarter. New York State Teachers Retirement System increased its position in shares of Chord Energy by 0.4% during the 3rd quarter. New York State Teachers Retirement System now owns 27,274 shares of the company’s stock worth $3,552,000 after purchasing an additional 100 shares in the last quarter. UMB Bank n.a. increased its position in shares of Chord Energy by 77.7% during 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. Finally, Lindenwold Advisors INC increased its position in shares of Chord Energy by 5.0% during the 3rd quarter. Lindenwold Advisors INC now owns 2,523 shares of the company’s stock worth $329,000 after purchasing an additional 119 shares in the last quarter. Institutional investors and hedge funds own 97.76% of the company’s stock.

Chord Energy Stock Up 1.5 %

Shares of NASDAQ CHRD opened at $129.84 on Thursday. The firm has a market capitalization of $7.94 billion, a PE ratio of 6.69, a price-to-earnings-growth ratio of 5.14 and a beta of 0.98. The company has a current ratio of 0.93, a quick ratio of 0.89 and a debt-to-equity ratio of 0.10. Chord Energy Co. has a 1 year low of $123.30 and a 1 year high of $190.23. The firm’s 50-day moving average is $131.00 and its 200-day moving average is $153.33.

Chord Energy (NASDAQ:CHRD) 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 firm had revenue of $1.12 billion for the quarter, compared to the consensus estimate of $1.26 billion. During the same period in the previous year, the business earned $5.04 EPS. The firm’s revenue was up 33.4% compared to the same quarter last year. Equities analysts expect that Chord Energy Co. will post 16.5 EPS for the current year.

Chord Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Wednesday, November 27th will be paid a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a yield of 3.85%. The ex-dividend date of this dividend is Wednesday, November 27th. Chord Energy’s payout ratio is 25.75%.

Insider Buying and Selling

In related news, Director Samantha Holroyd purchased 500 shares of the business’s stock in a transaction on Friday, August 23rd. The shares were purchased at an average price of $149.51 per share, with a total value of $74,755.00. Following the completion of the purchase, the director now owns 14,417 shares in the company, valued at $2,155,485.67. This represents a 3.59 % increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.70% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. Jefferies Financial Group assumed coverage on shares of Chord Energy in a research report on Thursday, September 5th. They set a “hold” rating and a $160.00 target price for the company. Wells Fargo & Company lowered their price objective on shares of Chord Energy from $185.00 to $180.00 and set an “overweight” rating for the company in a research report on Wednesday, October 16th. Truist Financial lowered their price objective 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. BMO Capital Markets lowered their price objective on shares of Chord Energy from $205.00 to $175.00 and set an “outperform” rating for the company in a research report on Friday, October 4th. Finally, Citigroup lowered their price objective on shares of Chord Energy from $195.00 to $180.00 and set a “buy” rating for the company in a research report on Monday, August 12th. Two investment 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 data from MarketBeat.com, Chord Energy currently has an average rating of “Moderate Buy” and a consensus target price of $188.45.

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.