Arkfeld Wealth Strategies L.L.C. Makes New $12.15 Million Investment in Chord Energy Co. (NASDAQ:CHRD)

Arkfeld Wealth Strategies L.L.C. purchased a new stake in Chord Energy Co. (NASDAQ:CHRD) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 89,060 shares of the company’s stock, valued at approximately $12,152,000. Chord Energy comprises about 5.9% of Arkfeld Wealth Strategies L.L.C.’s investment portfolio, making the stock its 4th biggest position. Arkfeld Wealth Strategies L.L.C. owned about 0.21% of Chord Energy at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Rise Advisors LLC acquired a new stake in shares of Chord Energy during the first quarter worth about $31,000. Hexagon Capital Partners LLC increased its stake in Chord Energy by 462.9% during the 3rd quarter. Hexagon Capital Partners LLC now owns 197 shares of the company’s stock worth $26,000 after buying an additional 162 shares during the period. UMB Bank n.a. lifted its holdings in 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 buying an additional 101 shares in the last quarter. Ashton Thomas Private Wealth LLC purchased a new position in Chord Energy in the 2nd quarter valued at approximately $40,000. Finally, Benjamin F. Edwards & Company Inc. grew its stake 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 worth $41,000 after acquiring an additional 136 shares in the last quarter. Hedge funds and other institutional investors own 97.76% of the company’s stock.

Analyst Ratings Changes

CHRD has been the topic of several analyst reports. BMO Capital Markets reduced their target price on shares of Chord Energy from $205.00 to $175.00 and set an “outperform” rating on the stock in a report on Friday, October 4th. Royal Bank of Canada restated an “outperform” rating and issued a $200.00 price objective on shares of Chord Energy in a report on Friday, September 20th. Truist Financial lowered their target price on shares of Chord Energy from $223.00 to $185.00 and set a “buy” rating for the company in a research note on Monday, September 30th. Wells Fargo & Company dropped their target price on Chord Energy from $200.00 to $185.00 and set an “overweight” rating on the stock in a report on Tuesday, October 1st. Finally, Wolfe Research initiated coverage on Chord Energy in a report on Thursday, July 18th. They set a “peer perform” rating for the company. Two research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $192.90.

Insider Buying and Selling at Chord Energy

In related news, Director Samantha Holroyd purchased 500 shares of the firm’s stock in a transaction on Friday, August 23rd. The stock was purchased at an average price of $149.51 per share, for a total transaction of $74,755.00. Following the acquisition, the director now directly owns 14,417 shares in the company, valued at $2,155,485.67. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.70% of the stock is currently owned by corporate insiders.

Chord Energy Price Performance

Chord Energy stock traded down $3.69 during trading hours on Tuesday, hitting $128.68. The stock had a trading volume of 286,217 shares, compared to its average volume of 881,206. Chord Energy Co. has a 1-year low of $126.96 and a 1-year high of $190.23. The stock has a market capitalization of $5.37 billion, a price-to-earnings ratio of 6.04, a PEG ratio of 4.92 and a beta of 0.97. The stock’s fifty day moving average is $140.88 and its two-hundred day moving average is $163.26. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.96 and a quick ratio of 0.91.

Chord Energy (NASDAQ:CHRD) last posted its quarterly earnings data on Wednesday, August 7th. The company reported $4.69 EPS for the quarter, missing analysts’ consensus estimates of $5.00 by ($0.31). Chord Energy had a net margin of 20.83% and a return on equity of 15.06%. The company had revenue of $902.70 million for the quarter, compared to analyst estimates of $982.43 million. During the same period in the previous year, the business earned $3.65 EPS. The firm’s revenue was up 29.8% on a year-over-year basis. As a group, analysts predict that Chord Energy Co. will post 17.93 earnings per share for the current fiscal year.

Chord Energy Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 5th. Investors of record on Wednesday, August 21st were issued a $1.25 dividend. The ex-dividend date of this dividend was Wednesday, August 21st. This represents a $5.00 annualized dividend and a yield of 3.89%. Chord Energy’s dividend payout ratio is currently 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.