Swiss National Bank lessened its stake in shares of Chord Energy Co. (NASDAQ:CHRD - Free Report) by 34.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 121,622 shares of the company's stock after selling 63,400 shares during the period. Swiss National Bank owned 0.20% of Chord Energy worth $14,220,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently added to or reduced their stakes in the stock. FMR LLC increased its stake in Chord Energy by 2.2% during the 3rd quarter. FMR LLC now owns 3,420,012 shares of the company's stock worth $445,388,000 after acquiring an additional 74,165 shares during the period. Victory Capital Management Inc. increased its stake in shares of Chord Energy by 27.6% in the 4th quarter. Victory Capital Management Inc. now owns 2,864,456 shares of the company's stock valued at $334,912,000 after purchasing an additional 619,021 shares during the last quarter. State Street Corp increased its stake in shares of Chord Energy by 0.9% in the 3rd quarter. State Street Corp now owns 2,485,777 shares of the company's stock valued at $323,723,000 after purchasing an additional 22,753 shares during the last quarter. Pacer Advisors Inc. increased its stake in shares of Chord Energy by 50.4% in the 4th quarter. Pacer Advisors Inc. now owns 1,872,156 shares of the company's stock valued at $218,892,000 after purchasing an additional 627,122 shares during the last quarter. Finally, Geode Capital Management LLC increased its stake in shares of Chord Energy by 3.0% in the 3rd quarter. Geode Capital Management LLC now owns 1,162,442 shares of the company's stock valued at $151,077,000 after purchasing an additional 34,156 shares during the last quarter. Institutional investors own 97.76% of the company's stock.
Wall Street Analyst Weigh In
CHRD has been the topic of several recent analyst reports. Williams Trading set a $155.00 price target on Chord Energy in a research note on Wednesday, March 5th. Wells Fargo & Company decreased 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. Citigroup lowered Chord Energy to a "reduce" rating in a research note on Wednesday, March 5th. Wolfe Research upgraded Chord Energy from a "peer perform" rating to an "outperform" rating and set a $155.00 price objective on the stock in a research report on Friday, January 3rd. Finally, Piper Sandler reduced their price objective on Chord Energy from $193.00 to $184.00 and set an "overweight" rating on the stock in a research report on Thursday, March 6th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Chord Energy presently has an average rating of "Moderate Buy" and a consensus target price of $164.62.
Get Our Latest Research Report on Chord Energy
Chord Energy Trading Down 1.0 %
CHRD traded down $1.08 during midday trading on Friday, hitting $109.71. 3,167,903 shares of the company were exchanged, compared to its average volume of 922,413. The firm has a market capitalization of $6.54 billion, a P/E ratio of 5.65, a P/E/G ratio of 5.83 and a beta of 0.98. Chord Energy Co. has a 1-year low of $99.40 and a 1-year high of $190.23. The firm's 50 day moving average price is $112.92 and its 200-day moving average price is $122.03. The company has a quick ratio of 0.89, a current ratio of 0.93 and a debt-to-equity ratio of 0.10.
Chord Energy Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 26th. Shareholders of record on Tuesday, March 11th will be issued a dividend of $1.30 per share. The ex-dividend date is Tuesday, March 11th. This is an increase from Chord Energy's previous quarterly dividend of $1.25. This represents a $5.20 annualized dividend and a yield of 4.74%. Chord Energy's payout ratio is presently 32.62%.
Chord Energy 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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