BlackBarn Capital Partners LP Raises Stake in Chord Energy Co. (NASDAQ:CHRD)

BlackBarn Capital Partners LP grew its holdings in shares of Chord Energy Co. (NASDAQ:CHRD - Free Report) by 75.0% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 140,000 shares of the company's stock after buying an additional 60,000 shares during the period. Chord Energy makes up 0.9% of BlackBarn Capital Partners LP's investment portfolio, making the stock its 7th largest holding. BlackBarn Capital Partners LP owned about 0.23% of Chord Energy worth $16,369,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. Altshuler Shaham Ltd bought a new position in Chord Energy in the fourth quarter worth approximately $25,000. Brooklyn Investment Group bought a new position in shares of Chord Energy in the 4th quarter worth $29,000. Twin Tree Management LP acquired a new stake in Chord Energy in the 4th quarter valued at $33,000. Larson Financial Group LLC increased its stake in Chord Energy by 238.3% during the 4th quarter. Larson Financial Group LLC now owns 318 shares of the company's stock valued at $37,000 after purchasing an additional 224 shares in the last quarter. Finally, R Squared Ltd acquired a new position in Chord Energy during the fourth quarter worth $51,000. Institutional investors and hedge funds own 97.76% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on CHRD shares. Bank of America reduced their price objective on shares of Chord Energy from $138.00 to $125.00 and set a "neutral" rating for the company in a report on Tuesday, April 1st. Piper Sandler cut their price target on Chord Energy from $184.00 to $183.00 and set an "overweight" rating for the company in a research note on Tuesday. Morgan Stanley set a $139.00 price objective on Chord Energy and gave the stock a "cautious" rating in a research note on Wednesday, March 26th. Citigroup cut their target price 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. Finally, Wolfe Research raised Chord Energy from a "peer perform" rating to an "outperform" rating and set a $155.00 price target for the company in a research report on Friday, January 3rd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Chord Energy currently has a consensus rating of "Moderate Buy" and a consensus price target of $156.92.

Chord Energy Stock Performance

Shares of NASDAQ CHRD traded down $0.13 during mid-day trading on Friday, reaching $94.62. 410,855 shares of the company's stock were exchanged, compared to its average volume of 974,224. The firm has a 50-day moving average price of $102.43 and a two-hundred day moving average price of $115.36. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.93 and a quick ratio of 0.89. The firm has a market capitalization of $5.63 billion, a price-to-earnings ratio of 4.87, a price-to-earnings-growth ratio of 5.83 and a beta of 0.96. Chord Energy Co. has a 52 week low of $79.83 and a 52 week high of $188.02.

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 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 was Tuesday, March 11th. This represents a $5.20 annualized dividend and a yield of 5.50%. Chord Energy's payout ratio is currently 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.