AlphaQuest LLC Acquires 1,091 Shares of Chord Energy Co. (NASDAQ:CHRD)

AlphaQuest LLC increased its holdings in shares of Chord Energy Co. (NASDAQ:CHRD) by 15.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,279 shares of the company’s stock after acquiring an additional 1,091 shares during the period. AlphaQuest LLC’s holdings in Chord Energy were worth $968,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Victory Capital Management Inc. grew its position in 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 acquiring an additional 656,374 shares during the last quarter. Merit Financial Group LLC acquired a new position in Chord Energy during the 4th quarter worth $553,000. Geode Capital Management LLC lifted its holdings in Chord Energy by 3.0% during the 3rd quarter. Geode Capital Management LLC now owns 1,162,442 shares of the company’s stock worth $151,077,000 after buying an additional 34,156 shares in the last quarter. Kingsview Wealth Management LLC lifted its holdings in Chord Energy by 55.3% during 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 in the last quarter. Finally, Arkfeld Wealth Strategies L.L.C. lifted its holdings in Chord Energy by 3.5% during 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 currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts have issued reports on the company. Bank of America reaffirmed a “neutral” rating and set a $138.00 price objective (down previously from $208.00) on shares of Chord Energy in a report on Monday, January 13th. UBS Group reduced their price objective on Chord Energy from $168.00 to $161.00 and set a “buy” rating on the stock in a report on Monday, December 9th. Morgan Stanley assumed coverage on Chord Energy in a report on Friday, January 10th. They set an “equal weight” rating and a $158.00 price objective on the stock. Truist Financial increased their price target on Chord Energy from $185.00 to $186.00 and gave the company a “buy” rating in a research note on Monday, January 13th. Finally, Williams Trading set a $155.00 price target on Chord Energy in a research note on Wednesday, March 5th. One analyst has rated the stock with a sell rating, three have given a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $164.62.

Chord Energy Price Performance

CHRD opened at $104.04 on Tuesday. The company has a quick ratio of 0.89, a current ratio of 0.93 and a debt-to-equity ratio of 0.10. Chord Energy Co. has a 12 month low of $99.40 and a 12 month high of $190.23. The company has a fifty day simple moving average of $115.54 and a 200 day simple moving average of $124.72. The stock has a market cap of $6.20 billion, a P/E ratio of 5.36, a P/E/G ratio of 5.83 and a beta of 0.98.

Chord Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 26th. Investors of record on Tuesday, March 11th will be given a $1.30 dividend. The ex-dividend date is Tuesday, March 11th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 5.00%. This is a boost from Chord Energy’s previous quarterly dividend of $1.25. Chord Energy’s dividend payout ratio is currently 32.62%.

Insider Activity at Chord Energy

In related news, CAO Shannon Browning Kinney sold 1,000 shares of the company’s stock in a transaction on Monday, December 16th. The shares were 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 in the company, valued at $2,267,428.80. This represents a 4.88 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.70% of the stock is owned by corporate insiders.

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.