Ninepoint Partners LP Has $12.86 Million Stock Holdings in Chord Energy Co. (NASDAQ:CHRD)

Ninepoint Partners LP raised its stake in shares of Chord Energy Co. (NASDAQ:CHRD - Free Report) by 15.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 110,000 shares of the company's stock after buying an additional 15,000 shares during the period. Chord Energy accounts for approximately 1.9% of Ninepoint Partners LP's portfolio, making the stock its 12th biggest holding. Ninepoint Partners LP owned 0.18% of Chord Energy worth $12,861,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of CHRD. Stone House Investment Management LLC bought a new position in Chord Energy during the third quarter valued at about $26,000. Brooklyn Investment Group bought a new position in shares of Chord Energy in the fourth quarter worth about $29,000. Larson Financial Group LLC increased its stake in shares of Chord Energy by 238.3% in the fourth quarter. Larson Financial Group LLC now owns 318 shares of the company's stock worth $37,000 after purchasing an additional 224 shares during the period. R Squared Ltd bought a new position in shares of Chord Energy in the fourth quarter worth about $51,000. Finally, Venturi Wealth Management LLC increased its stake in shares of Chord Energy by 1,751.9% in the fourth quarter. Venturi Wealth Management LLC now owns 500 shares of the company's stock worth $58,000 after purchasing an additional 473 shares during the period. 97.76% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on CHRD. Morgan Stanley began coverage on Chord Energy in a research note on Friday, January 10th. They set an "equal weight" rating and a $158.00 price target on the stock. Wells Fargo & Company lowered their price target on Chord Energy from $176.00 to $175.00 and set an "overweight" rating on the stock in a research note on Wednesday, January 15th. Royal Bank of Canada lowered their price target on Chord Energy from $185.00 to $180.00 and set an "outperform" rating on the stock in a research note on Wednesday, November 20th. Wolfe Research upgraded Chord Energy from a "peer perform" rating to an "outperform" rating and set a $155.00 price target on the stock in a research note on Friday, January 3rd. Finally, Citigroup lowered Chord Energy to a "reduce" rating in a research note on Wednesday, March 5th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $164.62.

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Chord Energy Price Performance

Shares of CHRD traded down $0.34 on Thursday, hitting $110.79. The company's stock had a trading volume of 601,259 shares, compared to its average volume of 908,445. The company has a market capitalization of $6.61 billion, a PE ratio of 5.70, a PEG ratio of 5.83 and a beta of 0.98. 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 Co. has a fifty-two week low of $99.40 and a fifty-two week high of $190.23. The company has a 50 day moving average price of $113.67 and a 200 day moving average price of $122.59.

Chord Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 26th. Stockholders of record on Tuesday, March 11th will be issued a $1.30 dividend. This is an increase from Chord Energy's previous quarterly dividend of $1.25. This represents a $5.20 annualized dividend and a dividend yield of 4.69%. The ex-dividend date of this dividend is Tuesday, March 11th. Chord Energy's payout ratio is presently 32.62%.

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.