Avantax Advisory Services Inc. Sells 3,605 Shares of Chord Energy Co. (NASDAQ:CHRD)

Avantax Advisory Services Inc. cut its position in shares of Chord Energy Co. (NASDAQ:CHRD - Free Report) by 59.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,486 shares of the company's stock after selling 3,605 shares during the quarter. Avantax Advisory Services Inc.'s holdings in Chord Energy were worth $291,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Sequoia Financial Advisors LLC bought a new position in Chord Energy during the fourth quarter valued at about $201,000. Wealthfront Advisers LLC acquired a new position in Chord Energy during the fourth quarter valued at approximately $731,000. Gables Capital Management Inc. lifted its holdings in shares of Chord Energy by 6.9% during the fourth quarter. Gables Capital Management Inc. now owns 1,550 shares of the company's stock worth $181,000 after buying an additional 100 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Chord Energy by 39.9% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,895 shares of the company's stock worth $1,742,000 after purchasing an additional 4,245 shares during the period. Finally, AlphaQuest LLC increased its stake in Chord Energy by 15.2% during the fourth quarter. AlphaQuest LLC now owns 8,279 shares of the company's stock valued at $968,000 after acquiring an additional 1,091 shares during the period. 97.76% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CHRD has been the subject of a number of research analyst reports. Truist Financial boosted their target price on shares of Chord Energy from $185.00 to $186.00 and gave the stock a "buy" rating in a research note on Monday, January 13th. 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 research report on Friday, January 3rd. Williams Trading set a $155.00 price target on Chord Energy in a report on Wednesday, March 5th. Piper Sandler decreased their price objective on shares of Chord Energy from $193.00 to $184.00 and set an "overweight" rating on the stock in a research note on Thursday, March 6th. Finally, Mizuho dropped their price target on shares of Chord Energy from $192.00 to $178.00 and set an "outperform" rating for the company in a research note on Monday, December 16th. Two research analysts have rated the stock with a sell rating, two have given a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $162.46.

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Chord Energy Price Performance

NASDAQ CHRD traded down $0.41 on Friday, hitting $111.73. The stock had a trading volume of 511,727 shares, compared to its average volume of 943,021. Chord Energy Co. has a 52-week low of $99.40 and a 52-week high of $190.23. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.89 and a current ratio of 0.93. The company has a market capitalization of $6.65 billion, a price-to-earnings ratio of 5.75, a price-to-earnings-growth ratio of 5.83 and a beta of 0.98. The firm has a 50-day moving average of $111.53 and a 200-day moving average of $121.24.

Chord Energy Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 26th. Shareholders of record on Tuesday, March 11th were paid a dividend of $1.30 per share. The ex-dividend date was Tuesday, March 11th. This represents a $5.20 annualized dividend and a yield of 4.65%. This is a positive change from Chord Energy's previous quarterly dividend of $1.25. Chord Energy's 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.