Perigon Wealth Management LLC Trims Stock Holdings in Chord Energy Corporation $CHRD

Perigon Wealth Management LLC lessened its stake in shares of Chord Energy Corporation (NASDAQ:CHRD) by 18.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 28,801 shares of the company’s stock after selling 6,485 shares during the quarter. Perigon Wealth Management LLC owned approximately 0.05% of Chord Energy worth $2,862,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Ieq Capital LLC purchased a new stake in shares of Chord Energy during the first quarter worth about $308,000. State of Wyoming grew its stake in Chord Energy by 61.6% in the 1st quarter. State of Wyoming now owns 842 shares of the company’s stock worth $95,000 after acquiring an additional 321 shares during the period. Quarry LP raised its holdings in Chord Energy by 244.1% in the 1st quarter. Quarry LP now owns 1,965 shares of the company’s stock valued at $221,000 after acquiring an additional 1,394 shares during the last quarter. Advisors Asset Management Inc. lifted its stake in shares of Chord Energy by 64.2% during the 1st quarter. Advisors Asset Management Inc. now owns 55,449 shares of the company’s stock worth $6,250,000 after purchasing an additional 21,676 shares during the period. Finally, AQR Capital Management LLC boosted its holdings in shares of Chord Energy by 59.8% during the first quarter. AQR Capital Management LLC now owns 236,436 shares of the company’s stock worth $26,651,000 after purchasing an additional 88,490 shares during the last quarter. 97.76% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Samantha Holroyd bought 1,250 shares of the company’s stock in a transaction that occurred on Friday, November 7th. The shares were acquired at an average cost of $85.50 per share, for a total transaction of $106,875.00. Following the acquisition, the director owned 17,706 shares in the company, valued at $1,513,863. This represents a 7.60% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 0.70% of the company’s stock.

Chord Energy Trading Up 1.4%

Shares of CHRD stock opened at $91.29 on Tuesday. The company has a quick ratio of 1.28, a current ratio of 1.35 and a debt-to-equity ratio of 0.18. Chord Energy Corporation has a fifty-two week low of $79.83 and a fifty-two week high of $129.32. The firm’s 50 day moving average price is $92.09 and its two-hundred day moving average price is $99.26. The stock has a market cap of $5.19 billion, a price-to-earnings ratio of 35.11 and a beta of 0.92.

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

Chord Energy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, December 5th. Stockholders of record on Wednesday, November 19th were given a $1.30 dividend. The ex-dividend date of this dividend was Wednesday, November 19th. This represents a $5.20 annualized dividend and a dividend yield of 5.7%. Chord Energy’s dividend payout ratio is presently 200.00%.

Analyst Ratings Changes

CHRD has been the subject of several analyst reports. Piper Sandler dropped their target price on Chord Energy from $167.00 to $165.00 and set an “overweight” rating for the company in a research note on Tuesday, November 18th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $130.00 price objective on shares of Chord Energy in a research note on Monday, October 6th. Mizuho increased their price objective on shares of Chord Energy from $142.00 to $150.00 and gave the stock an “outperform” rating in a report on Friday, December 12th. Scotiabank started coverage on shares of Chord Energy in a report on Friday, September 19th. They issued a “sector perform” rating and a $120.00 target price for the company. Finally, Wall Street Zen downgraded shares of Chord Energy from a “hold” rating to a “sell” rating in a research note on Saturday, November 1st. Eleven research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, Chord Energy currently has an average rating of “Moderate Buy” and a consensus target price of $138.31.

About Chord Energy

Chord Energy Corporation (NASDAQ: CHRD), formerly known as Oasis Petroleum Inc, is an independent exploration and production company focused on the acquisition, development and production of crude oil, natural gas and natural gas liquids. Headquartered in Houston, Texas, Chord Energy emerged from financial restructuring in early 2021 and rebranded in October 2022 to reflect its renewed strategic vision.

The company’s core operations are concentrated in two prolific U.S. resource plays: the Williston Basin across North Dakota and Montana, and the Delaware Basin spanning parts of West Texas and southeastern New Mexico.