Moran Wealth Management LLC Sells 19,208 Shares of Chord Energy Co. (NASDAQ:CHRD)

Moran Wealth Management LLC lowered its stake in Chord Energy Co. (NASDAQ:CHRD) by 34.5% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 36,518 shares of the company’s stock after selling 19,208 shares during the quarter. Moran Wealth Management LLC’s holdings in Chord Energy were worth $4,756,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of CHRD. Hexagon Capital Partners LLC raised its holdings in shares of Chord Energy by 462.9% in the third quarter. Hexagon Capital Partners LLC now owns 197 shares of the company’s stock valued at $26,000 after purchasing an additional 162 shares during the last quarter. UMB Bank n.a. raised its holdings in shares of Chord Energy by 77.7% in the third quarter. UMB Bank n.a. now owns 231 shares of the company’s stock valued at $30,000 after purchasing an additional 101 shares during the last quarter. Ashton Thomas Private Wealth LLC acquired a new stake in shares of Chord Energy in the second quarter valued at approximately $40,000. Benjamin F. Edwards & Company Inc. raised its holdings in shares of Chord Energy by 125.9% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 244 shares of the company’s stock valued at $41,000 after purchasing an additional 136 shares during the last quarter. Finally, Spartan Fund Management Inc. acquired a new stake in shares of Chord Energy in the third quarter valued at approximately $34,000. Institutional investors own 97.76% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on CHRD shares. Citigroup lowered their price objective on shares of Chord Energy from $195.00 to $180.00 and set a “buy” rating on the stock in a report on Monday, August 12th. Royal Bank of Canada lowered their price objective on shares of Chord Energy from $185.00 to $180.00 and set an “outperform” rating on the stock in a report on Wednesday. Jefferies Financial Group initiated coverage on shares of Chord Energy in a report on Thursday, September 5th. They issued a “hold” rating and a $160.00 price objective on the stock. Wells Fargo & Company lowered their target price on shares of Chord Energy from $185.00 to $180.00 and set an “overweight” rating on the stock in a report on Wednesday, October 16th. Finally, Bank of America boosted their target price on shares of Chord Energy from $201.00 to $208.00 and gave the stock a “buy” rating in a report on Wednesday, August 21st. Two analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $188.45.

Insider Buying and Selling at Chord Energy

In other Chord Energy news, Director Samantha Holroyd bought 500 shares of Chord Energy stock in a transaction dated Friday, August 23rd. The stock was bought at an average price of $149.51 per share, with a total value of $74,755.00. Following the completion of the transaction, the director now owns 14,417 shares in the company, valued at $2,155,485.67. The trade was a 3.59 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.70% of the company’s stock.

Chord Energy Price Performance

NASDAQ:CHRD opened at $129.84 on Thursday. Chord Energy Co. has a one year low of $123.30 and a one year high of $190.23. The company has a market cap of $7.94 billion, a P/E ratio of 6.69, a P/E/G ratio of 5.14 and a beta of 0.98. The firm’s fifty day moving average price is $131.00 and its two-hundred day moving average price is $153.33. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.93 and a quick ratio of 0.89.

Chord Energy (NASDAQ:CHRD) last released its quarterly earnings data on Wednesday, November 6th. The company reported $3.40 EPS for the quarter, missing the consensus estimate of $3.63 by ($0.23). Chord Energy had a net margin of 19.74% and a return on equity of 12.88%. The company had revenue of $1.12 billion during the quarter, compared to analyst estimates of $1.26 billion. During the same quarter in the prior year, the firm earned $5.04 earnings per share. Chord Energy’s revenue for the quarter was up 33.4% on a year-over-year basis. Equities analysts expect that Chord Energy Co. will post 16.5 earnings per share for the current year.

Chord Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Wednesday, November 27th will be issued a $1.25 dividend. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $5.00 annualized dividend and a dividend yield of 3.85%. Chord Energy’s dividend payout ratio is currently 25.75%.

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.