Chord Energy Co. (NASDAQ:CHRD) Shares Acquired by Adage Capital Partners GP L.L.C.

Adage Capital Partners GP L.L.C. boosted its holdings in shares of Chord Energy Co. (NASDAQ:CHRD - Free Report) by 19.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 855,381 shares of the company's stock after buying an additional 136,751 shares during the period. Adage Capital Partners GP L.L.C. owned approximately 1.40% of Chord Energy worth $100,011,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. FMR LLC raised its stake in Chord Energy by 11.5% in the 4th quarter. FMR LLC now owns 3,814,384 shares of the company's stock worth $445,978,000 after acquiring an additional 394,372 shares during the last quarter. Victory Capital Management Inc. increased its holdings in Chord Energy by 27.6% in the 4th quarter. Victory Capital Management Inc. now owns 2,864,456 shares of the company's stock worth $334,912,000 after buying an additional 619,021 shares during the period. Boston Partners lifted its stake in Chord Energy by 5.6% during the 4th quarter. Boston Partners now owns 2,186,483 shares of the company's stock valued at $255,684,000 after acquiring an additional 115,215 shares during the period. Pacer Advisors Inc. boosted its holdings in shares of Chord Energy by 50.4% in the 4th quarter. Pacer Advisors Inc. now owns 1,872,156 shares of the company's stock valued at $218,892,000 after acquiring an additional 627,122 shares during the last quarter. Finally, American Century Companies Inc. increased its stake in shares of Chord Energy by 15.0% in the fourth quarter. American Century Companies Inc. now owns 1,116,073 shares of the company's stock worth $130,491,000 after acquiring an additional 145,627 shares during the period. 97.76% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on CHRD. Williams Trading set a $155.00 price target on Chord Energy in a research report on Wednesday, March 5th. Royal Bank of Canada dropped their target price on Chord Energy from $165.00 to $145.00 and set an "outperform" rating on the stock in a report on Friday, April 11th. Citigroup lowered their price objective on Chord Energy from $135.00 to $120.00 and set a "buy" rating on the stock in a research report on Monday, April 7th. Morgan Stanley set a $139.00 target price on shares of Chord Energy and gave the company a "cautious" rating in a report on Wednesday, March 26th. Finally, Wells Fargo & Company cut their price objective on shares of Chord Energy from $166.00 to $158.00 and set an "overweight" rating for the company in a report on Tuesday, April 15th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $156.08.

Chord Energy Price Performance

NASDAQ:CHRD traded down $1.24 during trading hours on Tuesday, reaching $93.67. 161,906 shares of the company were exchanged, compared to its average volume of 971,734. 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 stock's 50-day moving average is $102.04 and its 200-day moving average is $114.83. The firm has a market cap of $5.57 billion, a PE ratio of 4.82, a price-to-earnings-growth ratio of 5.83 and a beta of 0.96. Chord Energy Co. has a twelve month low of $79.83 and a twelve month high of $188.02.

Chord Energy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 26th. Stockholders of record on Tuesday, March 11th were given a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a dividend yield of 5.55%. This is a boost from Chord Energy's previous quarterly dividend of $1.25. The ex-dividend date was Tuesday, March 11th. Chord Energy's dividend payout ratio is 32.62%.

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.