Level Four Advisory Services LLC Increases Stake in Chord Energy Corporation $CHRD

Level Four Advisory Services LLC grew its holdings in shares of Chord Energy Corporation (NASDAQ:CHRD) by 9.6% during the 2nd quarter, HoldingsChannel reports. The firm owned 8,948 shares of the company’s stock after buying an additional 782 shares during the period. Level Four Advisory Services LLC’s holdings in Chord Energy were worth $867,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of CHRD. Bayforest Capital Ltd acquired a new position in Chord Energy during the second quarter worth about $28,000. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in Chord Energy by 91.2% in the 2nd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 411 shares of the company’s stock worth $40,000 after purchasing an additional 196 shares in the last quarter. Caitong International Asset Management Co. Ltd boosted its holdings in shares of Chord Energy by 5,877.8% during the 1st quarter. Caitong International Asset Management Co. Ltd now owns 538 shares of the company’s stock worth $61,000 after purchasing an additional 529 shares during the last quarter. Allworth Financial LP boosted its holdings in shares of Chord Energy by 160.5% during the 2nd quarter. Allworth Financial LP now owns 659 shares of the company’s stock worth $64,000 after purchasing an additional 406 shares during the last quarter. Finally, MassMutual Private Wealth & Trust FSB grew 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 valued at $67,000 after purchasing an additional 493 shares in the last quarter. 97.76% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Chord Energy

In other news, Director Samantha Holroyd acquired 1,250 shares of the company’s stock in a transaction dated Friday, November 7th. The stock was acquired at an average cost of $85.50 per share, with a total value of $106,875.00. Following the completion of the purchase, the director owned 17,706 shares of the company’s stock, valued at $1,513,863. This represents a 7.60% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this link. 0.70% of the stock is currently owned by corporate insiders.

Chord Energy Trading Up 0.9%

NASDAQ CHRD opened at $93.15 on Monday. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.35 and a quick ratio of 1.28. The stock has a market capitalization of $5.30 billion, a P/E ratio of 35.83 and a beta of 0.92. The firm’s 50-day moving average is $93.33 and its two-hundred day moving average is $99.23. Chord Energy Corporation has a 12 month low of $79.83 and a 12 month high of $129.32.

Chord Energy (NASDAQ:CHRD) last released its quarterly earnings results on Tuesday, November 4th. The company reported $2.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.24 by $0.11. The business had revenue of $1.31 billion for the quarter, compared to the consensus estimate of $1.02 billion. Chord Energy had a net margin of 3.31% and a return on equity of 8.27%. The business’s revenue was up 17.0% on a year-over-year basis. During the same period in the previous year, the firm earned $3.40 EPS. On average, sell-side analysts anticipate that Chord Energy Corporation will post 15.59 earnings per share for the current year.

Chord Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 5th. Shareholders of record on Wednesday, November 19th will be paid a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a yield of 5.6%. The ex-dividend date is Wednesday, November 19th. Chord Energy’s dividend payout ratio is 200.00%.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Morgan Stanley set a $123.00 price objective on Chord Energy in a research report on Thursday, November 20th. William Blair began coverage on Chord Energy in a report on Friday, November 21st. They set an “outperform” rating on the stock. Weiss Ratings reissued a “hold (c-)” rating on shares of Chord Energy in a report on Wednesday, October 8th. Wall Street Zen downgraded shares of Chord Energy from a “hold” rating to a “sell” rating in a research note on Saturday, November 1st. Finally, UBS Group dropped their price target on shares of Chord Energy from $130.00 to $123.00 and set a “buy” rating for the company in a research note on Wednesday, November 12th. Eleven analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, Chord Energy currently has an average rating of “Moderate Buy” and an average target price of $137.69.

Chord Energy 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.