Chord Energy Corporation $CHRD Shares Sold by Perigon Wealth Management LLC

Perigon Wealth Management LLC lowered its position in Chord Energy Corporation (NASDAQ:CHRD) by 18.4% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 28,801 shares of the company’s stock after selling 6,485 shares during the quarter. Perigon Wealth Management LLC’s holdings in Chord Energy were worth $2,862,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the business. Bayforest Capital Ltd acquired a new position in shares of Chord Energy in the second quarter worth about $28,000. WealthCollab LLC raised its position in shares of Chord Energy by 90.6% in the 2nd quarter. WealthCollab LLC now owns 305 shares of the company’s stock valued at $30,000 after purchasing an additional 145 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in shares of Chord Energy by 91.2% during the 2nd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 411 shares of the company’s stock valued at $40,000 after buying an additional 196 shares during the last quarter. Allworth Financial LP boosted its stake in shares of Chord Energy by 160.5% during the 2nd quarter. Allworth Financial LP now owns 659 shares of the company’s stock valued at $64,000 after buying an additional 406 shares during the last quarter. Finally, MassMutual Private Wealth & Trust FSB grew its position in shares of Chord Energy by 254.1% during the second quarter. MassMutual Private Wealth & Trust FSB now owns 687 shares of the company’s stock worth $67,000 after buying an additional 493 shares in the last quarter. 97.76% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

CHRD has been the topic of a number of research analyst reports. UBS Group reduced their price objective on shares of Chord Energy from $130.00 to $123.00 and set a “buy” rating on the stock in a research note on Wednesday, November 12th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $130.00 price target on shares of Chord Energy in a research note on Monday, October 6th. Bank of America upped their price objective on Chord Energy from $112.00 to $123.00 and gave the company a “buy” rating in a research note on Wednesday, September 17th. Piper Sandler decreased their target price on Chord Energy from $167.00 to $165.00 and set an “overweight” rating for the company in a research report on Tuesday, November 18th. Finally, Scotiabank assumed coverage on Chord Energy in a research report on Friday, September 19th. They set a “sector perform” rating and a $120.00 price target on the stock. Eleven analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $138.31.

Chord Energy Stock Up 1.4%

NASDAQ:CHRD opened at $91.29 on Tuesday. The company has a current ratio of 1.35, a quick ratio of 1.28 and a debt-to-equity ratio of 0.18. The stock has a 50 day moving average of $92.09 and a 200-day moving average of $99.26. The firm has a market capitalization of $5.19 billion, a PE ratio of 35.11 and a beta of 0.92. Chord Energy Corporation has a 52 week low of $79.83 and a 52 week high of $129.32.

Chord Energy (NASDAQ:CHRD) last released its quarterly earnings data on Tuesday, November 4th. The company reported $2.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.24 by $0.11. The business had revenue of $1.31 billion during the quarter, compared to analyst estimates of $1.02 billion. Chord Energy had a return on equity of 8.27% and a net margin of 3.31%.The business’s revenue for the quarter was up 17.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.40 EPS. Analysts predict that Chord Energy Corporation will post 15.59 EPS for the current year.

Chord Energy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, December 5th. Stockholders of record on Wednesday, November 19th were given a dividend of $1.30 per share. The ex-dividend date was Wednesday, November 19th. This represents a $5.20 annualized dividend and a dividend yield of 5.7%. Chord Energy’s dividend payout ratio is currently 200.00%.

Insider Buying and Selling at Chord Energy

In other news, Director Samantha Holroyd acquired 1,250 shares of the business’s stock in a transaction that occurred on Friday, November 7th. The shares were purchased at an average cost of $85.50 per share, for a total transaction of $106,875.00. Following the transaction, the director directly owned 17,706 shares in the company, valued at $1,513,863. This trade represents a 7.60% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.70% of the stock is currently owned by company insiders.

Chord Energy Profile

Chord Energy Corporation (NASDAQ: CHRD), formerly known as Oasis Petroleum Inc, is an independent exploration and production company focused on the acquisition, development and production of crude oil, natural gas and natural gas liquids. Headquartered in Houston, Texas, Chord Energy emerged from financial restructuring in early 2021 and rebranded in October 2022 to reflect its renewed strategic vision.

The company’s core operations are concentrated in two prolific U.S. resource plays: the Williston Basin across North Dakota and Montana, and the Delaware Basin spanning parts of West Texas and southeastern New Mexico.