Measured Wealth Private Client Group LLC Acquires 240 Shares of Chord Energy Co. (NASDAQ:CHRD)

Measured Wealth Private Client Group LLC increased its holdings in Chord Energy Co. (NASDAQ:CHRD) by 14.5% in the first quarter, HoldingsChannel reports. The firm owned 1,897 shares of the company’s stock after purchasing 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 SEC filing.

A number of other large investors have also recently bought and sold shares of the business. Rise Advisors LLC bought a new stake in Chord Energy during the first quarter valued at about $31,000. Contravisory Investment Management Inc. boosted its holdings in Chord Energy by 48.9% during the fourth quarter. Contravisory Investment Management Inc. now owns 259 shares of the company’s stock valued at $43,000 after acquiring an additional 85 shares during the period. SRS Capital Advisors Inc. boosted its holdings in Chord Energy by 306.9% during the fourth quarter. SRS Capital Advisors Inc. now owns 293 shares of the company’s stock valued at $49,000 after acquiring an additional 221 shares during the period. Lindbrook Capital LLC boosted its holdings in Chord Energy by 67.6% during the fourth quarter. Lindbrook Capital LLC now owns 305 shares of the company’s stock valued at $51,000 after acquiring an additional 123 shares during the period. Finally, Viking Fund Management LLC boosted its holdings in Chord Energy by 40.0% during the fourth quarter. Viking Fund Management LLC now owns 350 shares of the company’s stock valued at $58,000 after acquiring an additional 100 shares during the period. 97.76% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on CHRD. BMO Capital Markets began coverage on shares of Chord Energy in a report on Monday, June 3rd. They set an “outperform” rating and a $230.00 price target for the company. Truist Financial reduced their target price on shares of Chord Energy from $228.00 to $226.00 and set a “buy” rating for the company in a research note on Monday, June 3rd. Royal Bank of Canada increased their target price on shares of Chord Energy from $180.00 to $200.00 and gave the company an “outperform” rating in a research note on Monday, April 29th. Piper Sandler increased their target price on shares of Chord Energy from $231.00 to $233.00 and gave the company an “overweight” rating in a research note on Friday, May 24th. Finally, Bank of America reiterated a “buy” rating and issued a $201.00 target price on shares of Chord Energy in a research note on Friday, June 14th. One investment analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $205.00.

Chord Energy Stock Performance

NASDAQ:CHRD opened at $170.89 on Wednesday. Chord Energy Co. has a 12-month low of $145.06 and a 12-month high of $190.23. 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 firm has a market capitalization of $7.12 billion, a PE ratio of 8.02, a price-to-earnings-growth ratio of 0.87 and a beta of 1.01. The firm has a 50-day moving average price of $175.14 and a 200 day moving average price of $169.16.

Chord Energy (NASDAQ:CHRD) last posted its quarterly 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 net margin of 22.67% and a return on equity of 16.57%. The firm had revenue of $1.09 billion during the quarter, compared to analyst estimates of $771.87 million. During the same quarter in the prior year, the business posted $4.50 earnings per share. The company’s quarterly revenue was up 24.8% compared to the same quarter last year. Research analysts anticipate that Chord Energy Co. will post 22.27 earnings per share for the current fiscal year.

Chord Energy Cuts Dividend

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

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.