Advisors Asset Management Inc. Grows Position in Chord Energy Co. (NASDAQ:CHRD)

Advisors Asset Management Inc. grew its holdings in shares of Chord Energy Co. (NASDAQ:CHRD - Free Report) by 147.3% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 33,773 shares of the company's stock after purchasing an additional 20,114 shares during the quarter. Advisors Asset Management Inc. owned about 0.06% of Chord Energy worth $3,949,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the business. Signaturefd LLC grew its position in shares of Chord Energy by 6.2% in the fourth quarter. Signaturefd LLC now owns 3,046 shares of the company's stock valued at $356,000 after purchasing an additional 177 shares in the last quarter. Twin Tree Management LP purchased a new position in Chord Energy during the 4th quarter valued at about $33,000. Ninepoint Partners LP grew its holdings in Chord Energy by 15.8% during the 4th quarter. Ninepoint Partners LP now owns 110,000 shares of the company's stock valued at $12,861,000 after buying an additional 15,000 shares in the last quarter. Envestnet Portfolio Solutions Inc. lifted its holdings in shares of Chord Energy by 2.9% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 3,710 shares of the company's stock worth $434,000 after buying an additional 106 shares in the last quarter. Finally, Natixis Advisors LLC purchased a new stake in shares of Chord Energy in the fourth quarter worth about $1,191,000. Hedge funds and other institutional investors own 97.76% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Piper Sandler lowered their target price 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. Wolfe Research upgraded Chord Energy from a "peer perform" rating to an "outperform" rating and set a $155.00 price objective on the stock in a research report on Friday, January 3rd. UBS Group dropped their price objective 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. Truist Financial upped their target price on Chord Energy from $185.00 to $186.00 and gave the stock a "buy" rating in a research note on Monday, January 13th. Finally, Morgan Stanley initiated coverage on Chord Energy in a research report on Friday, January 10th. They set an "equal weight" rating and a $158.00 price target for the company. One analyst has rated the stock with a sell rating, three have issued a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $163.92.

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Chord Energy Trading Down 0.2 %

Shares of Chord Energy stock traded down $0.18 during trading on Tuesday, reaching $112.60. The company's stock had a trading volume of 785,680 shares, compared to its average volume of 921,994. 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 52-week low of $99.40 and a 52-week high of $190.23. The firm's 50-day moving average is $112.66 and its two-hundred day moving average is $121.74. The company has a market cap of $6.71 billion, a price-to-earnings ratio of 5.80, a PEG ratio of 5.83 and a beta of 0.98.

Chord Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 26th. Stockholders of record on Tuesday, March 11th will be paid a dividend of $1.30 per share. This is a boost from Chord Energy's previous quarterly dividend of $1.25. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.62%. The ex-dividend date of this dividend is Tuesday, March 11th. Chord Energy's dividend payout ratio (DPR) 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.