Measured Wealth Private Client Group LLC Increases Holdings in Chord Energy Co. (NASDAQ:CHRD)

Measured Wealth Private Client Group LLC grew its holdings in shares of Chord Energy Co. (NASDAQ:CHRD) by 14.5% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,897 shares of the company’s stock after buying an additional 240 shares during the period. Measured Wealth Private Client Group LLC’s holdings in Chord Energy were worth $338,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. Rise Advisors LLC purchased a new stake in Chord Energy during the 1st quarter worth about $31,000. Contravisory Investment Management Inc. lifted its holdings in Chord Energy by 48.9% during the 4th quarter. Contravisory Investment Management Inc. now owns 259 shares of the company’s stock worth $43,000 after buying an additional 85 shares during the last quarter. SRS Capital Advisors Inc. lifted its holdings in Chord Energy by 306.9% during the 4th quarter. SRS Capital Advisors Inc. now owns 293 shares of the company’s stock worth $49,000 after buying an additional 221 shares during the last quarter. Lindbrook Capital LLC lifted its holdings in Chord Energy by 67.6% during the 4th quarter. Lindbrook Capital LLC now owns 305 shares of the company’s stock worth $51,000 after buying an additional 123 shares during the last quarter. Finally, Viking Fund Management LLC lifted its holdings in Chord Energy by 40.0% during the 4th quarter. Viking Fund Management LLC now owns 350 shares of the company’s stock worth $58,000 after buying an additional 100 shares during the last quarter. 97.76% of the stock is owned by hedge funds and other institutional investors.

Chord Energy Stock Up 0.7 %

CHRD opened at $170.89 on Wednesday. The company has a quick ratio of 1.07, a current ratio of 1.14 and a debt-to-equity ratio of 0.08. The business has a 50 day moving average price of $175.14 and a two-hundred day moving average price of $169.16. Chord Energy Co. has a 52 week low of $145.06 and a 52 week high of $190.23. The company has a market cap of $7.12 billion, a PE ratio of 8.02, a P/E/G ratio of 0.87 and a beta of 1.01.

Chord Energy (NASDAQ:CHRD) last released its earnings results on Tuesday, May 7th. The company reported $5.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.75 by $0.35. Chord Energy had a return on equity of 16.57% and a net margin of 22.67%. The company had revenue of $1.09 billion for the quarter, compared to analysts’ expectations of $771.87 million. During the same quarter in the previous year, the firm posted $4.50 EPS. The firm’s quarterly revenue was up 24.8% on a year-over-year basis. As a group, research analysts anticipate that Chord Energy Co. will post 22.27 EPS for the current year.

Chord Energy Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 5th. Shareholders of record on Wednesday, May 22nd were given a dividend of $2.94 per share. This represents a $11.76 annualized dividend and a yield of 6.88%. The ex-dividend date of this dividend was Tuesday, May 21st. Chord Energy’s payout ratio is 23.46%.

Wall Street Analyst Weigh In

CHRD has been the subject of several research reports. Piper Sandler boosted their target price on Chord Energy from $231.00 to $233.00 and gave the company an “overweight” rating in a report on Friday, May 24th. Royal Bank of Canada boosted their target price on Chord Energy from $180.00 to $200.00 and gave the company an “outperform” rating in a report on Monday, April 29th. BMO Capital Markets initiated coverage on Chord Energy in a report on Monday, June 3rd. They issued an “outperform” rating and a $230.00 target price for the company. Citigroup initiated coverage on Chord Energy in a report on Monday. They issued a “buy” rating and a $195.00 target price for the company. Finally, Bank of America reissued a “buy” rating and issued a $201.00 target price on shares of Chord Energy in a report on Friday, June 14th. One equities research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $205.00.

About Chord Energy

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.