Avidian Wealth Enterprises LLC Makes New Investment in Chord Energy Co. (NASDAQ:CHRD)

Avidian Wealth Enterprises LLC bought a new stake in Chord Energy Co. (NASDAQ:CHRD) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 5,147 shares of the company’s stock, valued at approximately $602,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Pacer Advisors Inc. lifted its holdings in shares of Chord Energy by 8,762.1% in the 3rd quarter. Pacer Advisors Inc. now owns 1,245,034 shares of the company’s stock valued at $162,141,000 after buying an additional 1,230,985 shares during the period. Victory Capital Management Inc. increased its stake in shares of Chord Energy by 41.3% during the 3rd quarter. Victory Capital Management Inc. now owns 2,245,435 shares of the company’s stock worth $292,423,000 after purchasing an additional 656,374 shares in the last quarter. Point72 Asset Management L.P. increased its position in Chord Energy by 143.8% during the 3rd quarter. Point72 Asset Management L.P. now owns 880,787 shares of the company’s stock worth $114,705,000 after purchasing an additional 519,547 shares in the last quarter. Captrust Financial Advisors grew its holdings in shares of Chord Energy by 721.9% during the third quarter. Captrust Financial Advisors now owns 145,785 shares of the company’s stock worth $18,986,000 after buying an additional 128,047 shares in the last quarter. Finally, Point72 Europe London LLP raised its position in shares of Chord Energy by 270.3% in the third quarter. Point72 Europe London LLP now owns 138,295 shares of the company’s stock valued at $18,010,000 after buying an additional 100,951 shares during the last quarter. Hedge funds and other institutional investors own 97.76% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on CHRD shares. Bank of America restated a “neutral” rating and set a $138.00 target price (down previously from $208.00) on shares of Chord Energy in a research report on Monday, January 13th. Wolfe Research upgraded Chord Energy from a “peer perform” rating to an “outperform” rating and set a $155.00 price objective on the stock in a report on Friday, January 3rd. Wells Fargo & Company dropped their target price on Chord Energy from $176.00 to $175.00 and set an “overweight” rating for the company in a research note on Wednesday, January 15th. Royal Bank of Canada reduced their target price on Chord Energy from $185.00 to $180.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 20th. Finally, Morgan Stanley started coverage on Chord Energy in a report on Friday, January 10th. They issued an “equal weight” rating and a $158.00 price target for the company. Three equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $173.08.

Chord Energy Stock Down 4.1 %

Shares of NASDAQ:CHRD opened at $109.67 on Thursday. Chord Energy Co. has a 1 year low of $107.24 and a 1 year high of $190.23. The stock has a 50-day simple moving average of $117.47 and a 200-day simple moving average of $130.46. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.89 and a current ratio of 0.93. The stock has a market capitalization of $6.70 billion, a P/E ratio of 5.65, a PEG ratio of 5.46 and a beta of 0.98.

Chord Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Wednesday, November 27th were given a $1.25 dividend. This represents a $5.00 annualized dividend and a dividend yield of 4.56%. The ex-dividend date of this dividend was Wednesday, November 27th. Chord Energy’s payout ratio is currently 25.75%.

Insider Transactions at Chord Energy

In other news, CAO Shannon Browning Kinney sold 1,000 shares of the company’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $116.35, for a total value of $116,350.00. Following the completion of the sale, the chief accounting officer now owns 19,488 shares of the company’s stock, valued at $2,267,428.80. This represents a 4.88 % 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. Company insiders own 0.70% of the company’s stock.

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.