Chord Energy Co. (NASDAQ:CHRD) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp lessened its position in shares of Chord Energy Co. (NASDAQ:CHRD - Free Report) by 3.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 688,400 shares of the company's stock after selling 22,878 shares during the period. Bank of New York Mellon Corp owned approximately 1.13% of Chord Energy worth $80,488,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Delta Capital Management LLC grew its holdings in shares of Chord Energy by 4.3% during the 4th quarter. Delta Capital Management LLC now owns 2,200 shares of the company's stock worth $257,000 after purchasing an additional 90 shares during the period. Commerce Bank lifted its position in Chord Energy by 4.3% during the third quarter. Commerce Bank now owns 2,361 shares of the company's stock valued at $307,000 after buying an additional 98 shares in the last quarter. New York State Teachers Retirement System grew its stake in Chord Energy by 0.4% during the third quarter. New York State Teachers Retirement System now owns 27,274 shares of the company's stock worth $3,552,000 after buying an additional 100 shares during the period. Exchange Traded Concepts LLC increased its position in shares of Chord Energy by 1.8% in the fourth quarter. Exchange Traded Concepts LLC now owns 6,145 shares of the company's stock worth $718,000 after acquiring an additional 110 shares in the last quarter. Finally, Lindenwold Advisors INC raised its stake in shares of Chord Energy by 5.0% in the 3rd quarter. Lindenwold Advisors INC now owns 2,523 shares of the company's stock valued at $329,000 after acquiring an additional 119 shares during the period. 97.76% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Chord Energy news, CAO Shannon Browning Kinney sold 1,000 shares of the company's stock in a transaction that occurred 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 $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 through this link. 0.70% of the stock is owned by company insiders.

Chord Energy Stock Down 7.2 %

Shares of CHRD traded down $8.26 during trading on Monday, reaching $106.04. The company's stock had a trading volume of 1,317,804 shares, compared to its average volume of 809,289. Chord Energy Co. has a twelve month low of $105.34 and a twelve month high of $190.23. The company has a quick ratio of 0.89, a current ratio of 0.93 and a debt-to-equity ratio of 0.10. The company has a market cap of $6.48 billion, a price-to-earnings ratio of 5.46, a P/E/G ratio of 5.83 and a beta of 0.98. The company has a fifty day moving average of $116.43 and a two-hundred day moving average of $126.43.

Chord Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 26th. Shareholders of record on Tuesday, March 11th will be paid a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a yield of 4.90%. This is an increase from Chord Energy's previous quarterly dividend of $1.25. The ex-dividend date is Tuesday, March 11th. Chord Energy's dividend payout ratio is 32.62%.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Royal Bank of Canada decreased their price target on shares of Chord Energy from $185.00 to $180.00 and set an "outperform" rating for the company in a research report on Wednesday, November 20th. Mizuho decreased their target price on Chord Energy from $192.00 to $178.00 and set an "outperform" rating for the company in a research report on Monday, December 16th. Wells Fargo & Company dropped their target price on Chord Energy from $176.00 to $175.00 and set an "overweight" rating on the stock in a report on Wednesday, January 15th. Truist Financial boosted their price target on Chord Energy from $185.00 to $186.00 and gave the stock a "buy" rating in a research report on Monday, January 13th. Finally, Morgan Stanley began coverage on shares of Chord Energy in a research report on Friday, January 10th. They issued an "equal weight" rating and a $158.00 price objective for the company. Three investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $169.92.

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.