Vanguard Group Inc. Lowers Holdings in Chord Energy Co. (NASDAQ:CHRD)

Vanguard Group Inc. lowered its holdings in Chord Energy Co. (NASDAQ:CHRD) by 0.9% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 6,395,464 shares of the company’s stock after selling 56,985 shares during the period. Vanguard Group Inc. owned approximately 10.46% of Chord Energy worth $747,758,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Pacer Advisors Inc. increased its position in shares of Chord Energy by 50.4% during the fourth quarter. Pacer Advisors Inc. now owns 1,872,156 shares of the company’s stock worth $218,892,000 after acquiring an additional 627,122 shares during the period. Victory Capital Management Inc. grew its stake in Chord Energy by 27.6% during the 4th quarter. Victory Capital Management Inc. now owns 2,864,456 shares of the company’s stock worth $334,912,000 after purchasing an additional 619,021 shares in the last quarter. Point72 Asset Management L.P. increased its holdings in Chord Energy by 143.8% during the 3rd quarter. Point72 Asset Management L.P. now owns 880,787 shares of the company’s stock worth $114,705,000 after purchasing an additional 519,547 shares during the period. Raymond James Financial Inc. acquired a new stake in Chord Energy in the 4th quarter valued at about $29,984,000. Finally, Allspring Global Investments Holdings LLC boosted its stake in shares of Chord Energy by 30.1% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 744,309 shares of the company’s stock valued at $88,459,000 after buying an additional 172,196 shares during the period. 97.76% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts recently weighed in on CHRD shares. Williams Trading set a $155.00 target price on shares of Chord Energy in a report on Wednesday, March 5th. Morgan Stanley set a $139.00 price objective on shares of Chord Energy and gave the stock a “cautious” rating in a research report on Wednesday. Mizuho lowered their target price on shares of Chord Energy from $192.00 to $178.00 and set an “outperform” rating for the company in a research note on Monday, December 16th. Piper Sandler cut their price target on Chord Energy from $193.00 to $184.00 and set an “overweight” rating on the stock in a research note on Thursday, March 6th. Finally, Wolfe Research upgraded shares of Chord Energy from a “peer perform” rating to an “outperform” rating and set a $155.00 price target on the stock in a research note on Friday, January 3rd. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $162.46.

Chord Energy Trading Down 0.4 %

Shares of CHRD stock opened at $111.73 on Friday. The company has a market capitalization of $6.65 billion, a P/E ratio of 5.75, a price-to-earnings-growth ratio of 5.83 and a beta of 0.98. 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 business’s 50 day moving average is $111.53 and its two-hundred day moving average is $121.24. Chord Energy Co. has a twelve month low of $99.40 and a twelve month high of $190.23.

Chord Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 26th. Shareholders of record on Tuesday, March 11th were paid a $1.30 dividend. This is a boost from Chord Energy’s previous quarterly dividend of $1.25. This represents a $5.20 annualized dividend and a yield of 4.65%. The ex-dividend date was Tuesday, March 11th. Chord Energy’s payout ratio is currently 32.62%.

Chord Energy 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.