BNP Paribas Financial Markets Makes New $4.72 Million Investment in Chord Energy Co. (NASDAQ:CHRD)

BNP Paribas Financial Markets purchased a new position in shares of Chord Energy Co. (NASDAQ:CHRD) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 40,376 shares of the company’s stock, valued at approximately $4,721,000. BNP Paribas Financial Markets owned approximately 0.07% of Chord Energy at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Altshuler Shaham Ltd bought a new stake in shares of Chord Energy in the 4th quarter worth $25,000. Brooklyn Investment Group bought a new position in Chord Energy in the 4th quarter valued at $29,000. Twin Tree Management LP purchased a new position in Chord Energy during the fourth quarter worth about $33,000. Larson Financial Group LLC lifted its position in Chord Energy by 238.3% during the fourth quarter. Larson Financial Group LLC now owns 318 shares of the company’s stock valued at $37,000 after purchasing an additional 224 shares during the last quarter. Finally, R Squared Ltd purchased a new position in Chord Energy in the fourth quarter worth $51,000. 97.76% of the stock is owned by institutional investors.

Insider Transactions at Chord Energy

In other Chord Energy news, EVP Shannon Browning Kinney sold 3,091 shares of the company’s stock in a transaction dated Thursday, May 8th. The stock was sold at an average price of $94.10, for a total value of $290,863.10. Following the transaction, the executive vice president now directly owns 21,277 shares of the company’s stock, valued at $2,002,165.70. This represents a 12.68% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.70% of the company’s stock.

Chord Energy Trading Up 1.9%

Shares of Chord Energy stock opened at $99.49 on Wednesday. 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 business has a 50 day moving average price of $98.47 and a 200 day moving average price of $112.17. The company has a market capitalization of $5.92 billion, a P/E ratio of 5.12, a P/E/G ratio of 5.83 and a beta of 0.99. Chord Energy Co. has a 1 year low of $79.83 and a 1 year high of $188.02.

Chord Energy (NASDAQ:CHRD) last posted its quarterly earnings results on Tuesday, May 6th. The company reported $4.04 earnings per share for the quarter, topping analysts’ consensus estimates of $3.60 by $0.44. Chord Energy had a net margin of 19.74% and a return on equity of 12.88%. The company had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.07 billion. During the same quarter last year, the firm posted $5.10 earnings per share. Chord Energy’s revenue was up 12.0% on a year-over-year basis. Sell-side analysts anticipate that Chord Energy Co. will post 15.59 EPS for the current fiscal year.

Chord Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 9th. Stockholders of record on Wednesday, May 21st will be given a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a dividend yield of 5.23%. The ex-dividend date of this dividend is Wednesday, May 21st. Chord Energy’s dividend payout ratio (DPR) is presently 34.78%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on CHRD shares. Citigroup lowered their price target on shares of Chord Energy from $135.00 to $120.00 and set a “buy” rating for the company in a report on Monday, April 7th. Mizuho lowered their price objective on shares of Chord Energy from $154.00 to $150.00 and set an “outperform” rating on the stock in a research report on Tuesday. Wells Fargo & Company cut their price target on Chord Energy from $166.00 to $158.00 and set an “overweight” rating for the company in a research note on Tuesday, April 15th. Morgan Stanley set a $139.00 target price on shares of Chord Energy and gave the stock a “cautious” rating in a report on Wednesday, March 26th. Finally, Bank of America upgraded Chord Energy from a “neutral” rating to a “buy” rating and decreased their target price for the stock from $125.00 to $114.00 in a research report on Tuesday, April 29th. One analyst has rated the stock with a sell rating, one has given a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Chord Energy presently has a consensus rating of “Moderate Buy” and an average target price of $153.92.

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.