Wealth Enhancement Advisory Services LLC Has $713,000 Stock Position in Chord Energy Corporation $CHRD

Wealth Enhancement Advisory Services LLC reduced its stake in shares of Chord Energy Corporation (NASDAQ:CHRD) by 61.1% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 7,935 shares of the company’s stock after selling 12,486 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Chord Energy were worth $713,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of CHRD. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of Chord Energy by 17.1% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 123,964 shares of the company’s stock worth $13,973,000 after purchasing an additional 18,137 shares in the last quarter. Focus Partners Wealth acquired a new stake in shares of Chord Energy during the 1st quarter worth $289,000. Prudential Financial Inc. boosted its stake in Chord Energy by 3.5% in the second quarter. Prudential Financial Inc. now owns 7,396 shares of the company’s stock valued at $716,000 after buying an additional 253 shares in the last quarter. M&T Bank Corp boosted its stake in Chord Energy by 48.8% in the second quarter. M&T Bank Corp now owns 4,056 shares of the company’s stock valued at $393,000 after buying an additional 1,330 shares in the last quarter. Finally, EverSource Wealth Advisors LLC boosted its stake in Chord Energy by 364.2% in the second quarter. EverSource Wealth Advisors LLC now owns 1,555 shares of the company’s stock valued at $151,000 after buying an additional 1,220 shares in the last quarter. 97.76% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Chord Energy

In other Chord Energy news, CAO Lara J. Kroll sold 5,000 shares of the stock in a transaction dated Tuesday, March 3rd. The stock was sold at an average price of $113.66, for a total value of $568,300.00. Following the completion of the transaction, the chief accounting officer directly owned 8,921 shares in the company, valued at approximately $1,013,960.86. This trade represents a 35.92% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Michael H. Lou sold 15,000 shares of the stock in a transaction dated Thursday, March 12th. The shares were sold at an average price of $125.47, for a total value of $1,882,050.00. Following the completion of the transaction, the executive vice president owned 82,699 shares of the company’s stock, valued at $10,376,243.53. This represents a 15.35% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 23,927 shares of company stock valued at $2,912,028 over the last three months. Company insiders own 0.70% of the company’s stock.

Chord Energy Price Performance

Chord Energy stock opened at $134.93 on Thursday. The company has a current ratio of 1.06, a quick ratio of 0.98 and a debt-to-equity ratio of 0.18. The company has a market capitalization of $7.65 billion, a PE ratio of 214.17 and a beta of 0.66. Chord Energy Corporation has a 12 month low of $79.83 and a 12 month high of $148.41. The stock has a 50-day moving average price of $118.27 and a two-hundred day moving average price of $102.17.

Chord Energy (NASDAQ:CHRD) last posted its earnings results on Wednesday, February 25th. The company reported $1.28 EPS for the quarter, beating the consensus estimate of $1.17 by $0.11. The firm had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.03 billion. Chord Energy had a return on equity of 6.71% and a net margin of 0.91%.The business’s quarterly revenue was down 19.6% on a year-over-year basis. During the same period last year, the company earned $3.49 earnings per share. Analysts expect that Chord Energy Corporation will post 15.59 EPS for the current year.

Chord Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 27th. Shareholders of record on Thursday, March 12th were given a $1.30 dividend. The ex-dividend date was Thursday, March 12th. This represents a $5.20 annualized dividend and a yield of 3.9%. Chord Energy’s dividend payout ratio (DPR) is currently 825.40%.

Wall Street Analyst Weigh In

Several research firms recently weighed in on CHRD. UBS Group raised their price objective on Chord Energy from $119.00 to $142.00 and gave the company a “buy” rating in a research note on Thursday, March 5th. Weiss Ratings raised Chord Energy from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Tuesday, March 17th. Scotiabank raised Chord Energy to a “hold” rating in a research note on Friday, March 27th. Wall Street Zen raised Chord Energy from a “sell” rating to a “hold” rating in a research note on Saturday, March 28th. Finally, Citigroup raised their price objective on Chord Energy from $120.00 to $155.00 and gave the company a “neutral” rating in a research note on Tuesday, March 31st. Two research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Chord Energy has a consensus rating of “Moderate Buy” and a consensus target price of $145.08.

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.