Clark Capital Management Group Inc. Buys 1,981 Shares of Chord Energy Co. (NASDAQ:CHRD)

Clark Capital Management Group Inc. lifted its stake in Chord Energy Co. (NASDAQ:CHRD) by 52.1% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,786 shares of the company’s stock after buying an additional 1,981 shares during the quarter. Clark Capital Management Group Inc.’s holdings in Chord Energy were worth $676,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Natixis Advisors LLC bought a new stake in Chord Energy during the 4th quarter worth approximately $1,191,000. JPMorgan Chase & Co. raised its position in shares of Chord Energy by 3.3% during the 4th quarter. JPMorgan Chase & Co. now owns 263,288 shares of the company’s stock valued at $30,784,000 after purchasing an additional 8,455 shares during the period. Merit Financial Group LLC purchased a new position in shares of Chord Energy during the 4th quarter valued at $553,000. Kingsview Wealth Management LLC boosted its holdings in Chord Energy by 55.3% in the 4th quarter. Kingsview Wealth Management LLC now owns 21,744 shares of the company’s stock worth $2,542,000 after buying an additional 7,743 shares during the period. Finally, Arkfeld Wealth Strategies L.L.C. increased its stake in Chord Energy by 3.5% in the 4th quarter. Arkfeld Wealth Strategies L.L.C. now owns 92,211 shares of the company’s stock worth $11,596,000 after buying an additional 3,151 shares in the last quarter. 97.76% of the stock is owned by hedge funds and other institutional investors.

Chord Energy Trading Down 0.6 %

Shares of Chord Energy stock opened at $93.04 on Friday. Chord Energy Co. has a fifty-two week low of $79.83 and a fifty-two week high of $188.02. 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 company has a market cap of $5.53 billion, a P/E ratio of 4.79, a price-to-earnings-growth ratio of 5.83 and a beta of 0.99. The firm has a 50-day simple moving average of $98.60 and a two-hundred day simple moving average of $112.69.

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

Chord Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 9th. Investors of record on Wednesday, May 21st will be given a dividend of $1.30 per share. The ex-dividend date is Wednesday, May 21st. This represents a $5.20 annualized dividend and a dividend yield of 5.59%. Chord Energy’s dividend payout ratio (DPR) is presently 32.62%.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on CHRD shares. Citigroup dropped their price objective on Chord Energy from $135.00 to $120.00 and set a “buy” rating for the company in a research note on Monday, April 7th. Williams Trading set a $155.00 price objective on shares of Chord Energy in a report on Wednesday, March 5th. Piper Sandler lowered their target price on shares of Chord Energy from $184.00 to $183.00 and set an “overweight” rating on the stock in a report on Tuesday, April 22nd. Truist Financial raised their target price on shares of Chord Energy from $185.00 to $186.00 and gave the company a “buy” rating in a research note on Monday, January 13th. Finally, Wells Fargo & Company decreased their price target on shares of Chord Energy from $166.00 to $158.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 15th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Chord Energy currently has an average rating of “Moderate Buy” and an average price target of $156.08.

About Chord Energy

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.