8,590 Shares in Chord Energy Co. (NASDAQ:CHRD) Purchased by M&T Bank Corp

M&T Bank Corp purchased a new position in Chord Energy Co. (NASDAQ:CHRD - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 8,590 shares of the company's stock, valued at approximately $1,004,000.

Several other institutional investors also recently modified their holdings of CHRD. Pacer Advisors Inc. increased its stake in Chord Energy by 8,762.1% during the 3rd quarter. Pacer Advisors Inc. now owns 1,245,034 shares of the company's stock valued at $162,141,000 after purchasing an additional 1,230,985 shares in the last quarter. Victory Capital Management Inc. increased its stake 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 valued at $292,423,000 after purchasing an additional 656,374 shares in the last quarter. Point72 Asset Management L.P. increased its stake 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 valued at $114,705,000 after purchasing an additional 519,547 shares in the last quarter. Allspring Global Investments Holdings LLC increased its stake in Chord Energy by 30.1% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 744,309 shares of the company's stock valued at $88,459,000 after purchasing an additional 172,196 shares in the last quarter. Finally, Captrust Financial Advisors increased its stake in Chord Energy by 721.9% during the 3rd quarter. Captrust Financial Advisors now owns 145,785 shares of the company's stock valued at $18,986,000 after purchasing an additional 128,047 shares in the last quarter. 97.76% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have weighed in on CHRD. Piper Sandler reduced their price objective on shares of Chord Energy from $193.00 to $184.00 and set an "overweight" rating for the company in a research note on Thursday, March 6th. Truist Financial raised their price target on shares of Chord Energy from $185.00 to $186.00 and gave the company a "buy" rating in a report on Monday, January 13th. Bank of America reaffirmed a "neutral" rating and set a $138.00 price target (down previously from $208.00) on shares of Chord Energy in a report on Monday, January 13th. Mizuho dropped their price target on shares of Chord Energy from $192.00 to $178.00 and set an "outperform" rating on the stock in a report on Monday, December 16th. Finally, Wolfe Research raised 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 report on Friday, January 3rd. One investment 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, the company presently has an average rating of "Moderate Buy" and a consensus price target of $164.62.

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Chord Energy Stock Performance

CHRD opened at $103.22 on Wednesday. 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 $6.16 billion, a price-to-earnings ratio of 5.32, a PEG ratio of 5.83 and a beta of 0.98. The company's 50 day moving average is $115.34 and its 200 day moving average is $124.41. Chord Energy Co. has a 12-month low of $99.40 and a 12-month high of $190.23.

Chord Energy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 26th. Shareholders of record on Tuesday, March 11th will be issued a dividend of $1.30 per share. The ex-dividend date is Tuesday, March 11th. This represents a $5.20 annualized dividend and a yield of 5.04%. This is an increase from Chord Energy's previous quarterly dividend of $1.25. Chord Energy's payout ratio is currently 32.62%.

Insider Buying and Selling at Chord Energy

In other Chord Energy news, CAO Shannon Browning Kinney sold 1,000 shares of Chord Energy stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $116.35, for a total transaction of $116,350.00. Following the transaction, the chief accounting officer now owns 19,488 shares of the company's stock, valued at $2,267,428.80. The trade was a 4.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.70% of the company's stock.

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.

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