American Century Companies Inc. Buys 145,627 Shares of Chord Energy Co. (NASDAQ:CHRD)

American Century Companies Inc. grew its stake in shares of Chord Energy Co. (NASDAQ:CHRD - Free Report) by 15.0% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,116,073 shares of the company's stock after acquiring an additional 145,627 shares during the period. American Century Companies Inc. owned 1.83% of Chord Energy worth $130,491,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of CHRD. Pacer Advisors Inc. grew its stake in Chord Energy by 50.4% in the fourth quarter. Pacer Advisors Inc. now owns 1,872,156 shares of the company's stock valued at $218,892,000 after purchasing an additional 627,122 shares in the last quarter. Victory Capital Management Inc. lifted its holdings 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 buying an additional 619,021 shares during the last quarter. Point72 Asset Management L.P. grew its stake in shares of Chord Energy by 143.8% in the 3rd quarter. Point72 Asset Management L.P. now owns 880,787 shares of the company's stock valued at $114,705,000 after buying an additional 519,547 shares in the last quarter. Raymond James Financial Inc. acquired a new position in Chord Energy in the fourth quarter worth approximately $29,984,000. Finally, Allspring Global Investments Holdings LLC raised its position in Chord Energy by 30.1% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 744,309 shares of the company's stock valued at $88,459,000 after acquiring an additional 172,196 shares in the last quarter. 97.76% of the stock is owned by institutional investors and hedge funds.

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Chord Energy Stock Performance

CHRD stock traded down $0.09 during trading hours on Tuesday, reaching $112.69. The stock had a trading volume of 463,450 shares, compared to its average volume of 921,994. The stock has a market capitalization of $6.72 billion, a PE ratio of 5.80, a price-to-earnings-growth ratio of 5.83 and a beta of 0.98. The stock has a 50-day simple moving average of $112.66 and a 200 day simple moving average of $121.74. Chord Energy Co. has a fifty-two week low of $99.40 and a fifty-two week high of $190.23. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.93 and a quick ratio of 0.89.

Chord Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 26th. Shareholders of record on Tuesday, March 11th will be given a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a yield of 4.61%. The ex-dividend date of this dividend is Tuesday, March 11th. This is an increase from Chord Energy's previous quarterly dividend of $1.25. Chord Energy's payout ratio is 32.62%.

Analyst Ratings Changes

Several research analysts have recently commented on the stock. Bank of America restated a "neutral" rating and set a $138.00 price target (down previously from $208.00) on shares of Chord Energy in a research note on Monday, January 13th. 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 objective for the company. Wells Fargo & Company lowered their target price on Chord Energy from $175.00 to $166.00 and set an "overweight" rating on the stock in a report on Monday. Piper Sandler reduced their price target on shares of Chord Energy from $193.00 to $184.00 and set an "overweight" rating for the company in a report on Thursday, March 6th. Finally, Wolfe Research upgraded 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. One analyst has rated the stock with a sell rating, three have assigned a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $163.92.

Chord Energy 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.