Kingsview Wealth Management LLC Grows Holdings in Chord Energy Co. (NASDAQ:CHRD)

Kingsview Wealth Management LLC boosted its holdings in Chord Energy Co. (NASDAQ:CHRD - Free Report) by 55.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 21,744 shares of the company's stock after acquiring an additional 7,743 shares during the quarter. Kingsview Wealth Management LLC's holdings in Chord Energy were worth $2,542,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in CHRD. Pacer Advisors Inc. lifted its position in Chord Energy by 8,762.1% in the 3rd quarter. Pacer Advisors Inc. now owns 1,245,034 shares of the company's stock valued at $162,141,000 after acquiring an additional 1,230,985 shares in the last quarter. Victory Capital Management Inc. boosted its stake in shares of Chord Energy by 41.3% in the 3rd quarter. Victory Capital Management Inc. now owns 2,245,435 shares of the company's stock worth $292,423,000 after buying an additional 656,374 shares during the last quarter. Point72 Asset Management L.P. grew its holdings in shares of Chord Energy by 143.8% in the third quarter. Point72 Asset Management L.P. now owns 880,787 shares of the company's stock worth $114,705,000 after acquiring an additional 519,547 shares during the period. Captrust Financial Advisors increased its position in Chord Energy by 721.9% during the third quarter. Captrust Financial Advisors now owns 145,785 shares of the company's stock valued at $18,986,000 after acquiring an additional 128,047 shares during the last quarter. Finally, Point72 Europe London LLP lifted its holdings in Chord Energy by 270.3% in the third quarter. Point72 Europe London LLP now owns 138,295 shares of the company's stock valued at $18,010,000 after acquiring an additional 100,951 shares during the period. 97.76% of the stock is owned by institutional investors.

Insider Activity at Chord Energy

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

Wall Street Analysts Forecast Growth

CHRD has been the subject of a number of recent research reports. Bank of America restated a "neutral" rating and set a $138.00 price target (down from $208.00) on shares of Chord Energy in a research note on Monday, January 13th. Royal Bank of Canada dropped their price target on Chord Energy from $185.00 to $180.00 and set an "outperform" rating for the company in a research note on Wednesday, November 20th. Mizuho dropped their price target on Chord Energy from $192.00 to $178.00 and set an "outperform" rating for the company in a research note on Monday, December 16th. Morgan Stanley initiated coverage on Chord Energy in a research note on Friday, January 10th. They issued an "equal weight" rating and a $158.00 price target for the company. Finally, Wells Fargo & Company dropped their price target on Chord Energy from $176.00 to $175.00 and set an "overweight" rating for the company in a research note on Wednesday, January 15th. Three investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $173.08.

Chord Energy Price Performance

Shares of CHRD traded up $0.52 during mid-day trading on Thursday, hitting $110.19. 674,041 shares of the stock were exchanged, compared to its average volume of 733,901. The company has a market cap of $6.74 billion, a PE ratio of 5.67, a price-to-earnings-growth ratio of 5.46 and a beta of 0.98. Chord Energy Co. has a 52-week low of $107.24 and a 52-week high of $190.23. The firm has a 50-day moving average of $117.47 and a two-hundred day moving average of $130.46. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.89 and a current ratio of 0.93.

Chord Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Wednesday, November 27th were issued a dividend of $1.25 per share. The ex-dividend date of this dividend was Wednesday, November 27th. This represents a $5.00 annualized dividend and a dividend yield of 4.54%. Chord Energy's dividend payout ratio (DPR) is 25.75%.

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.