Scotia Capital Inc. Reduces Stock Position in Chord Energy Co. (NASDAQ:CHRD)

Scotia Capital Inc. reduced its stake in Chord Energy Co. (NASDAQ:CHRD - Free Report) by 46.4% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 3,434 shares of the company's stock after selling 2,973 shares during the period. Scotia Capital Inc.'s holdings in Chord Energy were worth $402,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the company. Brooklyn Investment Group purchased a new stake in shares of Chord Energy during the 4th quarter valued at about $29,000. Twin Tree Management LP bought a new position in shares of Chord Energy during the 4th quarter valued at approximately $33,000. Larson Financial Group LLC raised its holdings in Chord Energy by 238.3% during the 4th quarter. Larson Financial Group LLC now owns 318 shares of the company's stock valued at $37,000 after buying an additional 224 shares during the period. R Squared Ltd purchased a new position in Chord Energy during the fourth quarter worth $51,000. Finally, Venturi Wealth Management LLC increased its position in Chord Energy by 1,751.9% during the fourth quarter. Venturi Wealth Management LLC now owns 500 shares of the company's stock valued at $58,000 after acquiring an additional 473 shares during the last quarter. Hedge funds and other institutional investors own 97.76% of the company's stock.

Chord Energy Trading Up 4.0 %

NASDAQ CHRD traded up $3.59 on Friday, reaching $94.43. The stock had a trading volume of 767,619 shares, compared to its average volume of 972,099. 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 stock has a fifty day moving average price of $104.12 and a two-hundred day moving average price of $116.67. Chord Energy Co. has a 12-month low of $79.83 and a 12-month high of $188.02. The firm has a market capitalization of $5.62 billion, a price-to-earnings ratio of 4.86, a P/E/G ratio of 5.83 and a beta of 0.96.

Chord Energy Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 26th. Investors 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 was Tuesday, March 11th. This represents a $5.20 annualized dividend and a yield of 5.51%. Chord Energy's dividend payout ratio is presently 32.62%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. Truist Financial lifted their price target on shares of Chord Energy from $185.00 to $186.00 and gave the stock a "buy" rating in a research note on Monday, January 13th. Morgan Stanley set a $139.00 target price on Chord Energy and gave the company a "cautious" rating in a research note on Wednesday, March 26th. Wells Fargo & Company dropped their price objective on Chord Energy from $166.00 to $158.00 and set an "overweight" rating for the company in a report on Tuesday, April 15th. Citigroup lowered their target price on shares of Chord Energy from $135.00 to $120.00 and set a "buy" rating for the company in a research note on Monday, April 7th. Finally, Royal Bank of Canada dropped their target price on shares of Chord Energy from $165.00 to $145.00 and set an "outperform" rating on the stock in a research note on Friday, April 11th. One analyst has rated the stock with a sell rating, two have given a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $157.00.

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.