Ashton Thomas Private Wealth LLC purchased a new position in Chord Energy Co. (NASDAQ:CHRD - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 5,712 shares of the company's stock, valued at approximately $668,000.
A number of other hedge funds have also recently modified their holdings of the company. Raymond James Financial Inc. bought a new position in shares of Chord Energy during the fourth quarter valued at approximately $29,984,000. Proficio Capital Partners LLC purchased a new position in Chord Energy during the 4th quarter valued at $3,540,000. M&T Bank Corp purchased a new stake in shares of Chord Energy in the 4th quarter worth about $1,004,000. Victory Capital Management Inc. boosted its stake in shares of Chord Energy by 27.6% during the 4th quarter. Victory Capital Management Inc. now owns 2,864,456 shares of the company's stock valued at $334,912,000 after purchasing an additional 619,021 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Chord Energy by 8.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 497,073 shares of the company's stock valued at $58,118,000 after buying an additional 39,401 shares during the period. Hedge funds and other institutional investors own 97.76% of the company's stock.
Insider Buying and Selling at Chord Energy
In other news, CAO Shannon Browning Kinney sold 1,000 shares of the firm's stock in a transaction on Monday, December 16th. The stock was sold at an average price of $116.35, for a total value of $116,350.00. Following the transaction, the chief accounting officer now directly owns 19,488 shares in the company, valued at $2,267,428.80. This trade represents a 4.88 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Company insiders own 0.70% of the company's stock.
Chord Energy Stock Up 2.8 %
CHRD traded up $2.89 during trading on Friday, hitting $106.21. 940,573 shares of the company's stock traded hands, compared to its average volume of 874,276. Chord Energy Co. has a 12-month low of $99.40 and a 12-month high of $190.23. The company's 50 day simple moving average is $114.54 and its two-hundred day simple moving average is $123.82. 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 has a market capitalization of $6.33 billion, a price-to-earnings ratio of 5.47, a PEG ratio of 5.83 and a beta of 0.98.
Chord Energy Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 26th. Shareholders of record on Tuesday, March 11th will be given a $1.30 dividend. This is a positive change from Chord Energy's previous quarterly dividend of $1.25. The ex-dividend date of this dividend is Tuesday, March 11th. This represents a $5.20 dividend on an annualized basis and a yield of 4.90%. Chord Energy's payout ratio is 32.62%.
Analyst Ratings Changes
Several analysts have commented on the stock. UBS Group lowered their price objective on shares of Chord Energy from $168.00 to $161.00 and set a "buy" rating for the company in a report on Monday, December 9th. Piper Sandler lowered their target price on Chord Energy from $193.00 to $184.00 and set an "overweight" rating for the company in a research note on Thursday, March 6th. Morgan Stanley assumed coverage on Chord Energy in a research note on Friday, January 10th. They issued an "equal weight" rating and a $158.00 price target on the stock. Wells Fargo & Company lowered their price objective on Chord Energy from $176.00 to $175.00 and set an "overweight" rating for the company in a research report on Wednesday, January 15th. Finally, Mizuho reduced their target price on shares of Chord Energy from $192.00 to $178.00 and set an "outperform" rating on the stock in a research report on Monday, December 16th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $164.62.
Read Our Latest Stock Report on Chord Energy
About Chord Energy
(
Free Report)
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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