Raymond James Financial Services Advisors Inc. Has $592,000 Stake in Chord Energy Co. (NASDAQ:CHRD)

Raymond James Financial Services Advisors Inc. raised its holdings in Chord Energy Co. (NASDAQ:CHRD) by 30.2% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 3,561 shares of the company’s stock after purchasing an additional 827 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in Chord Energy were worth $592,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. FinTrust Capital Advisors LLC bought a new stake in shares of Chord Energy during the fourth quarter valued at approximately $28,000. Contravisory Investment Management Inc. lifted its holdings in Chord Energy by 48.9% during the 4th quarter. Contravisory Investment Management Inc. now owns 259 shares of the company’s stock worth $43,000 after buying an additional 85 shares in the last quarter. Rockefeller Capital Management L.P. bought a new position in Chord Energy in the 4th quarter valued at $48,000. PNC Financial Services Group Inc. acquired a new stake in shares of Chord Energy in the 4th quarter valued at $68,000. Finally, Fifth Third Bancorp raised its position in shares of Chord Energy by 15.4% during the third quarter. Fifth Third Bancorp now owns 526 shares of the company’s stock worth $85,000 after acquiring an additional 70 shares during the last quarter. Institutional investors and hedge funds own 97.76% of the company’s stock.

Chord Energy Stock Performance

Shares of Chord Energy stock opened at $178.65 on Friday. The stock’s fifty day simple moving average is $170.08 and its 200 day simple moving average is $164.39. The company has a current ratio of 1.22, a quick ratio of 1.16 and a debt-to-equity ratio of 0.08. The company has a market capitalization of $7.42 billion, a PE ratio of 7.59 and a beta of 1.06. Chord Energy Co. has a 12 month low of $133.34 and a 12 month high of $190.23.

Chord Energy (NASDAQ:CHRD) last announced its quarterly earnings results on Wednesday, February 21st. The company reported $5.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.04 by $0.21. Chord Energy had a return on equity of 16.35% and a net margin of 26.27%. The company had revenue of $964.69 million during the quarter, compared to the consensus estimate of $891.67 million. On average, research analysts predict that Chord Energy Co. will post 21.71 EPS for the current year.

Chord Energy Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 19th. Shareholders of record on Tuesday, March 5th were paid a $3.25 dividend. The ex-dividend date was Monday, March 4th. This represents a $13.00 dividend on an annualized basis and a yield of 7.28%. This is a positive change from Chord Energy’s previous quarterly dividend of $1.25. Chord Energy’s payout ratio is presently 21.25%.

Wall Street Analyst Weigh In

CHRD has been the subject of a number of research reports. Piper Sandler lifted their price objective on Chord Energy from $218.00 to $219.00 and gave the stock an “overweight” rating in a research report on Thursday, March 7th. Truist Financial cut their price objective on shares of Chord Energy from $229.00 to $224.00 and set a “buy” rating on the stock in a report on Friday, April 5th. Bank of America cut shares of Chord Energy from a “buy” rating to an “underperform” rating and reduced their price objective for the company from $177.00 to $165.00 in a research note on Friday, January 5th. Stifel Nicolaus upped their target price on shares of Chord Energy from $178.00 to $211.00 and gave the company a “buy” rating in a research report on Tuesday, February 27th. Finally, Mizuho raised their price target on Chord Energy from $189.00 to $195.00 and gave the stock a “buy” rating in a research report on Thursday, March 14th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $190.40.

Insider Activity

In related news, CFO Michael H. Lou sold 3,000 shares of the firm’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $165.00, for a total transaction of $495,000.00. Following the sale, the chief financial officer now directly owns 128,209 shares in the company, valued at $21,154,485. 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 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.