Alliancebernstein L.P. Cuts Stock Position in Chord Energy Co. (NASDAQ:CHRD)

Alliancebernstein L.P. decreased its position in shares of Chord Energy Co. (NASDAQ:CHRD - Free Report) by 19.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 76,180 shares of the company's stock after selling 18,661 shares during the quarter. Alliancebernstein L.P. owned 0.12% of Chord Energy worth $8,907,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in CHRD. Natixis Advisors LLC bought a new stake in shares of Chord Energy in the 4th quarter worth $1,191,000. Merit Financial Group LLC bought a new stake in Chord Energy in the 4th quarter worth about $553,000. Geode Capital Management LLC lifted its stake 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 valued at $151,077,000 after acquiring an additional 34,156 shares during the period. JPMorgan Chase & Co. boosted its holdings in shares of Chord Energy by 3.3% during the 4th quarter. JPMorgan Chase & Co. now owns 263,288 shares of the company's stock valued at $30,784,000 after acquiring an additional 8,455 shares during the last quarter. Finally, Kingsview Wealth Management LLC grew its stake in shares of Chord Energy by 55.3% in the fourth quarter. Kingsview Wealth Management LLC now owns 21,744 shares of the company's stock worth $2,542,000 after acquiring an additional 7,743 shares during the period. Institutional investors own 97.76% of the company's stock.

Chord Energy Price Performance

Shares of CHRD stock traded up $0.33 during mid-day trading on Tuesday, hitting $88.85. The company had a trading volume of 298,542 shares, compared to its average volume of 965,258. The company has a market capitalization of $5.29 billion, a P/E ratio of 4.58, a P/E/G ratio of 5.83 and a beta of 0.96. The stock's 50 day moving average price is $105.66 and its 200-day moving average price is $117.65. Chord Energy Co. has a 52-week low of $79.83 and a 52-week high of $188.41. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.93 and a quick ratio of 0.89.

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Chord Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 26th. Shareholders of record on Tuesday, March 11th were issued a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a dividend yield of 5.85%. The ex-dividend date of this dividend was Tuesday, March 11th. This is an increase from Chord Energy's previous quarterly dividend of $1.25. Chord Energy's dividend payout ratio is 32.62%.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the stock. Piper Sandler cut their target price on shares of Chord Energy from $193.00 to $184.00 and set an "overweight" rating for the company in a research report on Thursday, March 6th. Royal Bank of Canada reduced their price objective on Chord Energy from $165.00 to $145.00 and set an "outperform" rating for the company in a research report on Friday. Bank of America cut their price target on Chord Energy from $138.00 to $125.00 and set a "neutral" rating for the company in a research note on Tuesday, April 1st. Mizuho lowered their price objective on shares of Chord Energy from $192.00 to $178.00 and set an "outperform" rating on the stock in a research note on Monday, December 16th. Finally, Morgan Stanley set a $139.00 target price on shares of Chord Energy and gave the company a "cautious" rating in a research report on Wednesday, March 26th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $157.00.

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.