Russell Investments Group Ltd. cut its position in Chord Energy Co. (NASDAQ:CHRD - Free Report) by 82.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 8,923 shares of the company's stock after selling 42,800 shares during the period. Russell Investments Group Ltd.'s holdings in Chord Energy were worth $1,043,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also modified their holdings of the company. Natixis Advisors LLC acquired a new position in shares of Chord Energy in the 4th quarter valued at $1,191,000. JPMorgan Chase & Co. boosted its stake in Chord Energy by 3.3% in the fourth quarter. JPMorgan Chase & Co. now owns 263,288 shares of the company's stock valued at $30,784,000 after acquiring an additional 8,455 shares in the last quarter. Merit Financial Group LLC purchased a new position in shares of Chord Energy during the fourth quarter worth about $553,000. Kingsview Wealth Management LLC lifted its holdings in shares of Chord Energy by 55.3% in the 4th quarter. Kingsview Wealth Management LLC now owns 21,744 shares of the company's stock valued at $2,542,000 after purchasing an additional 7,743 shares during the last quarter. Finally, Arkfeld Wealth Strategies L.L.C. boosted its position in shares of Chord Energy by 3.5% in the 4th quarter. Arkfeld Wealth Strategies L.L.C. now owns 92,211 shares of the company's stock valued at $11,596,000 after purchasing an additional 3,151 shares during the period. 97.76% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of equities research analysts have weighed in on CHRD shares. Wolfe Research upgraded Chord Energy from a "peer perform" rating to an "outperform" rating and set a $155.00 price objective for the company in a research note on Friday, January 3rd. Piper Sandler decreased their price target on shares of Chord Energy from $184.00 to $183.00 and set an "overweight" rating for the company in a research note on Tuesday. Citigroup lowered their target price on Chord Energy from $135.00 to $120.00 and set a "buy" rating on the stock in a research note on Monday, April 7th. Williams Trading set a $155.00 price target on Chord Energy in a research note on Wednesday, March 5th. Finally, Morgan Stanley set a $139.00 price target on Chord Energy and gave the stock a "cautious" rating in a report on Wednesday, March 26th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $156.92.
Read Our Latest Stock Report on Chord Energy
Chord Energy Price Performance
CHRD stock traded down $0.22 during trading on Friday, reaching $94.53. 231,975 shares of the company were exchanged, compared to its average volume of 971,222. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.89 and a current ratio of 0.93. The stock's 50 day moving average price is $103.10 and its 200 day moving average price is $115.93. Chord Energy Co. has a 52-week low of $79.83 and a 52-week high of $188.02. The company has a market cap of $5.62 billion, a P/E ratio of 4.87, a PEG ratio of 5.83 and a beta of 0.96.
Chord Energy Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Wednesday, March 26th. Stockholders of record on Tuesday, March 11th were paid a dividend of $1.30 per share. This is a positive change from Chord Energy's previous quarterly dividend of $1.25. The ex-dividend date of this dividend was Tuesday, March 11th. This represents a $5.20 annualized dividend and a dividend yield of 5.50%. Chord Energy's payout ratio is 32.62%.
Chord Energy Company Profile
(
Free Report)
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.
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