Victory Capital Management Inc. Boosts Holdings in Chord Energy Co. (NASDAQ:CHRD)

Victory Capital Management Inc. increased its position in shares of Chord Energy Co. (NASDAQ:CHRD - Free Report) by 27.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,864,456 shares of the company's stock after purchasing an additional 619,021 shares during the period. Victory Capital Management Inc. owned approximately 4.69% of Chord Energy worth $334,912,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Stone House Investment Management LLC purchased a new stake in Chord Energy in the 3rd quarter valued at about $26,000. Brooklyn Investment Group purchased a new stake in Chord Energy in the 4th quarter valued at about $29,000. R Squared Ltd purchased a new stake in Chord Energy in the 4th quarter valued at about $51,000. Venturi Wealth Management LLC boosted its position in Chord Energy by 1,751.9% in the 4th quarter. Venturi Wealth Management LLC now owns 500 shares of the company's stock valued at $58,000 after buying an additional 473 shares during the period. Finally, Union Bancaire Privee UBP SA purchased a new stake in Chord Energy in the 4th quarter valued at about $77,000. 97.76% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CAO Shannon Browning Kinney sold 1,000 shares of the stock in a transaction on Monday, December 16th. The shares were sold at an average price of $116.35, for a total transaction of $116,350.00. Following the sale, the chief accounting officer now directly owns 19,488 shares of the company's stock, valued at approximately $2,267,428.80. This represents a 4.88 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 0.70% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities research analysts have recently commented on CHRD shares. Morgan Stanley started coverage on shares of Chord Energy in a report on Friday, January 10th. They issued an "equal weight" rating and a $158.00 price target for the company. Wolfe Research upgraded shares of Chord Energy from a "peer perform" rating to an "outperform" rating and set a $155.00 price target for the company in a report on Friday, January 3rd. Mizuho reduced their price target on shares of Chord Energy from $192.00 to $178.00 and set an "outperform" rating for the company in a report on Monday, December 16th. Royal Bank of Canada reduced their price target on shares of Chord Energy from $185.00 to $180.00 and set an "outperform" rating for the company in a report on Wednesday, November 20th. Finally, Wells Fargo & Company reduced their price target on shares of Chord Energy from $176.00 to $175.00 and set an "overweight" rating for the company in a report on Wednesday, January 15th. Three analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Chord Energy presently has an average rating of "Moderate Buy" and an average target price of $166.17.

Chord Energy Stock Performance

Shares of CHRD stock traded down $2.79 during trading hours on Wednesday, hitting $101.34. The company's stock had a trading volume of 1,864,413 shares, compared to its average volume of 850,050. The company has a 50 day moving average of $116.14 and a 200 day moving average of $125.74. The stock has a market cap of $6.19 billion, a PE ratio of 5.22, a price-to-earnings-growth ratio of 5.83 and a beta of 0.98. The company has a current ratio of 0.93, a quick ratio of 0.89 and a debt-to-equity ratio of 0.10. Chord Energy Co. has a 12-month low of $99.40 and a 12-month high of $190.23.

Chord Energy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 26th. Investors of record on Tuesday, March 11th will be issued a dividend of $1.30 per share. The ex-dividend date is Tuesday, March 11th. This is an increase from Chord Energy's previous quarterly dividend of $1.25. This represents a $5.20 dividend on an annualized basis and a yield of 5.13%. Chord Energy's dividend payout ratio is 32.62%.

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.