Ashton Thomas Private Wealth LLC Acquires New Holdings in Chord Energy Co. (NASDAQ:CHRD)

Ashton Thomas Private Wealth LLC bought a new position in shares of Chord Energy Co. (NASDAQ:CHRD) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 5,712 shares of the company’s stock, valued at approximately $668,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Stone House Investment Management LLC purchased a new stake in shares of Chord Energy in the third quarter valued at $26,000. Brooklyn Investment Group acquired a new position in Chord Energy in the 4th quarter valued at about $29,000. R Squared Ltd purchased a new position in Chord Energy in the 4th quarter valued at about $51,000. Venturi Wealth Management LLC boosted its stake in shares of Chord Energy by 1,751.9% during the 4th quarter. Venturi Wealth Management LLC now owns 500 shares of the company’s stock worth $58,000 after purchasing an additional 473 shares during the last quarter. Finally, Union Bancaire Privee UBP SA purchased a new stake in shares of Chord Energy during the fourth quarter worth about $77,000. Hedge funds and other institutional investors own 97.76% of the company’s stock.

Chord Energy Trading Up 0.4 %

Shares of CHRD opened at $104.04 on Tuesday. Chord Energy Co. has a 12 month low of $99.40 and a 12 month high of $190.23. The stock’s 50-day moving average is $115.54 and its two-hundred day moving average is $124.72. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.93 and a quick ratio of 0.89. The stock has a market cap of $6.20 billion, a PE ratio of 5.36, a P/E/G ratio of 5.83 and a beta of 0.98.

Chord Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 26th. Investors of record on Tuesday, March 11th will be given a dividend of $1.30 per share. The ex-dividend date of this dividend is Tuesday, March 11th. This is a positive change from Chord Energy’s previous quarterly dividend of $1.25. This represents a $5.20 annualized dividend and a yield of 5.00%. Chord Energy’s payout ratio is 32.62%.

Insiders Place Their Bets

In other Chord Energy news, CAO Shannon Browning Kinney sold 1,000 shares of the company’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $116.35, for a total value of $116,350.00. Following the completion of the transaction, the chief accounting officer now directly owns 19,488 shares of the company’s stock, valued at $2,267,428.80. This represents a 4.88 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.70% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. Piper Sandler reduced their price objective on shares of Chord Energy from $193.00 to $184.00 and set an “overweight” rating on the stock in a research note on Thursday, March 6th. Bank of America reissued a “neutral” rating and set a $138.00 price target (down previously from $208.00) on shares of Chord Energy in a research note on Monday, January 13th. Royal Bank of Canada lowered their price objective on Chord Energy from $185.00 to $180.00 and set an “outperform” rating for the company in a research report on Wednesday, November 20th. Williams Trading set a $155.00 target price on Chord Energy in a research note on Wednesday, March 5th. Finally, Wells Fargo & Company decreased their price target on Chord Energy from $176.00 to $175.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 15th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $164.62.

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.