Allspring Global Investments Holdings LLC Buys 172,196 Shares of Chord Energy Co. (NASDAQ:CHRD)

Allspring Global Investments Holdings LLC lifted its holdings in Chord Energy Co. (NASDAQ:CHRD - Free Report) by 30.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 744,309 shares of the company's stock after acquiring an additional 172,196 shares during the period. Allspring Global Investments Holdings LLC owned approximately 1.22% of Chord Energy worth $88,459,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently made changes to their positions in CHRD. Stone House Investment Management LLC bought a new position in shares of Chord Energy in the 3rd quarter worth about $26,000. Brooklyn Investment Group bought a new position in shares of Chord Energy in the 4th quarter worth about $29,000. UMB Bank n.a. raised its position in shares of Chord Energy by 77.7% in the 3rd quarter. UMB Bank n.a. now owns 231 shares of the company's stock worth $30,000 after acquiring an additional 101 shares in the last quarter. Spartan Fund Management Inc. bought a new stake in Chord Energy in the 3rd quarter valued at about $34,000. Finally, Fortitude Family Office LLC bought a new stake in Chord Energy in the 3rd quarter valued at about $47,000. 97.76% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts recently commented on CHRD shares. Bank of America reaffirmed a "neutral" rating and issued a $138.00 target price (down from $208.00) on shares of Chord Energy in a research report on Monday, January 13th. Wolfe Research raised 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. Royal Bank of Canada cut their price target on Chord Energy from $185.00 to $180.00 and set an "outperform" rating for the company in a research note on Wednesday, November 20th. UBS Group cut their price target on Chord Energy from $168.00 to $161.00 and set a "buy" rating for the company in a research note on Monday, December 9th. Finally, Wells Fargo & Company cut their price target on Chord Energy from $176.00 to $175.00 and set an "overweight" rating for the company in a research note on Wednesday, January 15th. Three research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Chord Energy presently has a consensus rating of "Moderate Buy" and an average price target of $173.08.

Insider Activity at Chord Energy

In related news, CAO Shannon Browning Kinney sold 1,000 shares of the firm's stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $116.35, for a total value of $116,350.00. Following the sale, the chief accounting officer now owns 19,488 shares in the company, valued at approximately $2,267,428.80. This trade represents a 4.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.70% of the stock is owned by insiders.

Chord Energy Stock Performance

Chord Energy stock traded up $0.74 during trading on Friday, hitting $110.93. The stock had a trading volume of 641,472 shares, compared to its average volume of 721,197. The stock has a market cap of $6.78 billion, a price-to-earnings ratio of 5.71, a price-to-earnings-growth ratio of 5.46 and a beta of 0.98. The company has a quick ratio of 0.89, a current ratio of 0.93 and a debt-to-equity ratio of 0.10. Chord Energy Co. has a 1 year low of $107.24 and a 1 year high of $190.23. The stock's 50 day moving average is $117.12 and its two-hundred day moving average is $129.64.

Chord Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Wednesday, November 27th were paid a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a dividend yield of 4.51%. The ex-dividend date was Wednesday, November 27th. Chord Energy's dividend payout ratio is 25.75%.

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.