Hennion & Walsh Asset Management Inc. Invests $296,000 in Chord Energy Co. (NASDAQ:CHRD)

Hennion & Walsh Asset Management Inc. bought a new position in shares of Chord Energy Co. (NASDAQ:CHRD) in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 1,662 shares of the company’s stock, valued at approximately $296,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in CHRD. American Century Companies Inc. raised its position in shares of Chord Energy by 158.5% during the third quarter. American Century Companies Inc. now owns 483,447 shares of the company’s stock worth $78,352,000 after acquiring an additional 296,443 shares during the last quarter. Boston Partners raised its position in shares of Chord Energy by 50.8% during the fourth quarter. Boston Partners now owns 630,977 shares of the company’s stock worth $104,815,000 after acquiring an additional 212,463 shares during the last quarter. First Trust Advisors LP raised its position in shares of Chord Energy by 11.0% during the fourth quarter. First Trust Advisors LP now owns 1,402,359 shares of the company’s stock worth $233,114,000 after acquiring an additional 138,957 shares during the last quarter. LSV Asset Management bought a new stake in shares of Chord Energy during the fourth quarter worth $16,549,000. Finally, Allspring Global Investments Holdings LLC raised its position in shares of Chord Energy by 12.3% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 491,737 shares of the company’s stock worth $81,742,000 after acquiring an additional 53,992 shares during the last quarter. Institutional investors own 97.76% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. Truist Financial decreased their price objective on Chord Energy from $228.00 to $226.00 and set a “buy” rating for the company in a research note on Monday, June 3rd. Bank of America reaffirmed a “buy” rating and set a $201.00 price objective on shares of Chord Energy in a research note on Friday, June 14th. Royal Bank of Canada lifted their price objective on Chord Energy from $180.00 to $200.00 and gave the stock an “outperform” rating in a research note on Monday, April 29th. Mizuho lifted their price objective on Chord Energy from $195.00 to $214.00 and gave the stock a “buy” rating in a research note on Monday, May 13th. Finally, Citigroup assumed coverage on Chord Energy in a research note on Monday. They set a “buy” rating and a $195.00 price objective for the company. One research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, Chord Energy currently has an average rating of “Moderate Buy” and a consensus price target of $205.00.

Chord Energy Stock Up 1.6 %

NASDAQ:CHRD opened at $173.62 on Friday. Chord Energy Co. has a 1 year low of $145.06 and a 1 year high of $190.23. The company has a current ratio of 1.14, a quick ratio of 1.07 and a debt-to-equity ratio of 0.08. The stock has a market cap of $7.24 billion, a price-to-earnings ratio of 8.15, a PEG ratio of 0.89 and a beta of 1.01. The stock has a 50-day moving average price of $174.72 and a two-hundred day moving average price of $169.22.

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

Chord Energy Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 5th. Stockholders of record on Wednesday, May 22nd were issued a $2.94 dividend. The ex-dividend date was Tuesday, May 21st. This represents a $11.76 dividend on an annualized basis and a dividend yield of 6.77%. Chord Energy’s dividend payout ratio (DPR) is 23.46%.

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.