Merit Financial Group LLC Makes New Investment in Chord Energy Co. (NASDAQ:CHRD)

Merit Financial Group LLC bought a new position in shares of Chord Energy Co. (NASDAQ:CHRD) during the 4th quarter, according to its most recent 13F filing with the SEC. The fund bought 4,726 shares of the company’s stock, valued at approximately $553,000.

Other institutional investors also recently made changes to their positions in the company. GAMMA Investing LLC lifted its stake in shares of Chord Energy by 30.6% in the third quarter. GAMMA Investing LLC now owns 414 shares of the company’s stock valued at $54,000 after purchasing an additional 97 shares during the period. Commerce Bank increased its holdings in Chord Energy by 4.3% in the third quarter. Commerce Bank now owns 2,361 shares of the company’s stock valued at $307,000 after buying an additional 98 shares in the last quarter. New York State Teachers Retirement System lifted 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 valued at $3,552,000 after acquiring an additional 100 shares during the period. UMB Bank n.a. boosted its stake 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 acquiring an additional 101 shares in the last quarter. Finally, Lindenwold Advisors INC grew its holdings in shares of Chord Energy by 5.0% in the 3rd quarter. Lindenwold Advisors INC now owns 2,523 shares of the company’s stock worth $329,000 after acquiring an additional 119 shares during the period. 97.76% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CAO Shannon Browning Kinney sold 1,000 shares of the company’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $116.35, for a total transaction of $116,350.00. Following the completion of the sale, the chief accounting officer now directly owns 19,488 shares in the company, valued at $2,267,428.80. This represents a 4.88 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 0.70% of the company’s stock.

Chord Energy Stock Down 1.1 %

CHRD stock opened at $120.74 on Friday. The company has a 50 day moving average price of $121.93 and a two-hundred day moving average price of $136.66. 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 has a market capitalization of $7.38 billion, a P/E ratio of 6.22, a PEG ratio of 6.19 and a beta of 0.99. Chord Energy Co. has a one year low of $109.59 and a one year high of $190.23.

Chord Energy (NASDAQ:CHRD) last announced its quarterly earnings data on Wednesday, November 6th. The company reported $3.40 EPS for the quarter, missing analysts’ consensus estimates of $3.63 by ($0.23). Chord Energy had a net margin of 19.74% and a return on equity of 12.88%. The business had revenue of $1.12 billion during the quarter, compared to analysts’ expectations of $1.26 billion. During the same period in the prior year, the firm earned $5.04 EPS. Chord Energy’s revenue for the quarter was up 33.4% on a year-over-year basis. As a group, sell-side analysts expect that Chord Energy Co. will post 15.64 EPS for the current year.

Chord Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Wednesday, November 27th were issued a dividend of $1.25 per share. The ex-dividend date was Wednesday, November 27th. This represents a $5.00 annualized dividend and a dividend yield of 4.14%. Chord Energy’s payout ratio is currently 25.75%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Siebert Williams Shank raised Chord Energy to a “strong-buy” rating in a report on Tuesday, October 15th. BMO Capital Markets cut their price target on Chord Energy from $205.00 to $175.00 and set an “outperform” rating for the company in a research note on Friday, October 4th. Wolfe Research raised shares of Chord Energy from a “peer perform” rating to an “outperform” rating and set a $155.00 price objective on the stock in a research note on Friday, January 3rd. Wells Fargo & Company dropped their target price on shares of Chord Energy from $176.00 to $175.00 and set an “overweight” rating for the company in a report on Wednesday, January 15th. Finally, Truist Financial upped their price target on shares of Chord Energy from $185.00 to $186.00 and gave the company a “buy” rating in a report on Monday, January 13th. Three investment 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. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $173.08.

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.