Brighton Jones LLC Makes New Investment in Chord Energy Corporation $CHRD

Brighton Jones LLC bought a new position in Chord Energy Corporation (NASDAQ:CHRD) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 4,155 shares of the company’s stock, valued at approximately $402,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Bayforest Capital Ltd acquired a new position in Chord Energy in the 2nd quarter worth approximately $28,000. Hexagon Capital Partners LLC boosted its stake in Chord Energy by 321.7% in the 1st quarter. Hexagon Capital Partners LLC now owns 447 shares of the company’s stock worth $50,000 after purchasing an additional 341 shares during the period. Caitong International Asset Management Co. Ltd boosted its position in shares of Chord Energy by 5,877.8% in the first quarter. Caitong International Asset Management Co. Ltd now owns 538 shares of the company’s stock worth $61,000 after buying an additional 529 shares during the period. MassMutual Private Wealth & Trust FSB boosted its position in shares of Chord Energy by 254.1% in 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 during the period. Finally, Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Chord Energy by 89.6% in the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 692 shares of the company’s stock worth $67,000 after buying an additional 327 shares during the period. Institutional investors and hedge funds own 97.76% of the company’s stock.

Insider Buying and Selling at Chord Energy

In other Chord Energy news, EVP Shannon Browning Kinney sold 3,019 shares of the business’s stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $105.43, for a total value of $318,293.17. Following the completion of the sale, the executive vice president owned 14,650 shares of the company’s stock, valued at $1,544,549.50. The trade was a 17.09% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.70% of the stock is owned by corporate insiders.

Chord Energy Price Performance

NASDAQ CHRD opened at $90.23 on Friday. The company has a quick ratio of 0.90, a current ratio of 0.97 and a debt-to-equity ratio of 0.11. The stock has a market capitalization of $5.17 billion, a PE ratio of 22.96 and a beta of 0.94. The company has a 50 day moving average price of $99.88 and a two-hundred day moving average price of $99.54. Chord Energy Corporation has a 12-month low of $79.83 and a 12-month high of $136.38.

Chord Energy (NASDAQ:CHRD) last released its quarterly earnings data on Wednesday, August 6th. The company reported $1.79 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.88 by ($0.09). Chord Energy had a net margin of 5.02% and a return on equity of 9.02%. The business had revenue of $1.18 billion during the quarter, compared to analyst estimates of $984.07 million. During the same period in the previous year, the firm posted $4.69 EPS. The firm’s revenue for the quarter was up 5.3% on a year-over-year basis. As a group, equities analysts predict that Chord Energy Corporation will post 15.59 earnings per share for the current fiscal year.

Chord Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 8th. Shareholders of record on Thursday, August 21st were given a $1.30 dividend. The ex-dividend date of this dividend was Thursday, August 21st. This represents a $5.20 dividend on an annualized basis and a dividend yield of 5.8%. Chord Energy’s payout ratio is currently 132.32%.

Wall Street Analyst Weigh In

Several analysts have recently commented on CHRD shares. Mizuho decreased their target price on Chord Energy from $152.00 to $142.00 and set an “outperform” rating for the company in a research report on Monday, September 15th. Weiss Ratings restated a “hold (c-)” rating on shares of Chord Energy in a research report on Wednesday, October 8th. Scotiabank started coverage on shares of Chord Energy in a report on Friday, September 19th. They set a “sector perform” rating and a $120.00 price target for the company. Roth Capital started coverage on shares of Chord Energy in a report on Monday, October 13th. They set a “buy” rating and a $130.00 price target for the company. Finally, Bank of America raised their price target on shares of Chord Energy from $112.00 to $123.00 and gave the stock a “buy” rating in a report on Wednesday, September 17th. Ten research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $138.38.

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.