Twin Tree Management LP Purchases Shares of 286 Chord Energy Co. (NASDAQ:CHRD)

Twin Tree Management LP acquired a new position in shares of Chord Energy Co. (NASDAQ:CHRD) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 286 shares of the company’s stock, valued at approximately $33,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Stone House Investment Management LLC bought a new position in Chord Energy during the third quarter worth $26,000. Brooklyn Investment Group bought a new stake in shares of Chord Energy in the fourth quarter valued at about $29,000. Larson Financial Group LLC boosted its position in shares of Chord Energy by 238.3% in the fourth quarter. Larson Financial Group LLC now owns 318 shares of the company’s stock valued at $37,000 after acquiring an additional 224 shares during the period. R Squared Ltd bought a new stake in shares of Chord Energy in the fourth quarter valued at about $51,000. Finally, Venturi Wealth Management LLC boosted its position in shares of Chord Energy by 1,751.9% in the fourth quarter. Venturi Wealth Management LLC now owns 500 shares of the company’s stock valued at $58,000 after acquiring an additional 473 shares during the period. 97.76% of the stock is owned by institutional investors.

Chord Energy Stock Up 2.2 %

Shares of NASDAQ CHRD opened at $111.13 on Thursday. The company has a current ratio of 0.93, a quick ratio of 0.89 and a debt-to-equity ratio of 0.10. The company has a market cap of $6.63 billion, a price-to-earnings ratio of 5.72, a PEG ratio of 5.83 and a beta of 0.98. Chord Energy Co. has a 12 month low of $99.40 and a 12 month high of $190.23. The stock has a 50-day moving average price of $113.67 and a two-hundred day moving average price of $122.59.

Chord Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 26th. Shareholders of record on Tuesday, March 11th will be paid a dividend of $1.30 per share. This is an increase from Chord Energy’s previous quarterly dividend of $1.25. The ex-dividend date of this dividend is Tuesday, March 11th. This represents a $5.20 annualized dividend and a yield of 4.68%. Chord Energy’s payout ratio is presently 32.62%.

Wall Street Analyst Weigh In

CHRD has been the subject of a number of recent research reports. Wolfe Research raised shares of Chord Energy from a “peer perform” rating to an “outperform” rating and set a $155.00 target price for the company in a research report on Friday, January 3rd. Bank of America reissued a “neutral” rating and issued a $138.00 target price (down previously from $208.00) on shares of Chord Energy in a research report on Monday, January 13th. Truist Financial boosted their target price on shares of Chord Energy from $185.00 to $186.00 and gave the company a “buy” rating in a research report on Monday, January 13th. Wells Fargo & Company cut their price objective on shares of Chord Energy from $176.00 to $175.00 and set an “overweight” rating for the company in a research report on Wednesday, January 15th. Finally, UBS Group cut their price objective on shares of Chord Energy from $168.00 to $161.00 and set a “buy” rating for the company in a research report on Monday, December 9th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Chord Energy presently has an average rating of “Moderate Buy” and an average price target of $164.62.

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.