Vestcor Inc Trims Stake in Chord Energy Co. (NASDAQ:CHRD)

Vestcor Inc reduced its stake in shares of Chord Energy Co. (NASDAQ:CHRD - Free Report) by 6.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 38,450 shares of the company's stock after selling 2,765 shares during the period. Vestcor Inc owned 0.06% of Chord Energy worth $4,496,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in CHRD. FMR LLC increased its stake in Chord Energy by 2.2% in the 3rd quarter. FMR LLC now owns 3,420,012 shares of the company's stock worth $445,388,000 after buying an additional 74,165 shares in the last quarter. Victory Capital Management Inc. raised its stake in Chord Energy by 27.6% during 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 period. State Street Corp boosted its stake in Chord Energy by 0.9% in the 3rd quarter. State Street Corp now owns 2,485,777 shares of the company's stock worth $323,723,000 after purchasing an additional 22,753 shares during the period. Pacer Advisors Inc. raised its position in shares of Chord Energy by 50.4% during the fourth quarter. Pacer Advisors Inc. now owns 1,872,156 shares of the company's stock valued at $218,892,000 after buying an additional 627,122 shares during the last quarter. Finally, Geode Capital Management LLC lifted its holdings in shares of Chord Energy by 3.0% in the third quarter. Geode Capital Management LLC now owns 1,162,442 shares of the company's stock worth $151,077,000 after buying an additional 34,156 shares in the last quarter. 97.76% of the stock is currently owned by institutional investors.

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Chord Energy Trading Up 1.0 %

CHRD stock traded up $1.09 during midday trading on Tuesday, reaching $108.72. The company's stock had a trading volume of 834,086 shares, compared to its average volume of 908,653. Chord Energy Co. has a 1 year low of $99.40 and a 1 year high of $190.23. The firm has a market capitalization of $6.48 billion, a price-to-earnings ratio of 5.60, a PEG ratio of 5.83 and a beta of 0.98. The stock has a fifty day simple moving average of $114.24 and a two-hundred day simple moving average of $123.16. 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 Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 26th. Investors of record on Tuesday, March 11th will be paid a $1.30 dividend. This represents a $5.20 annualized dividend and a yield of 4.78%. The ex-dividend date is Tuesday, March 11th. This is an increase from Chord Energy's previous quarterly dividend of $1.25. Chord Energy's dividend payout ratio (DPR) is currently 32.62%.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on CHRD shares. Truist Financial raised their price objective on Chord Energy from $185.00 to $186.00 and gave the company a "buy" rating in a research report on Monday, January 13th. Morgan Stanley started coverage on shares of Chord Energy in a report on Friday, January 10th. They issued an "equal weight" rating and a $158.00 target price for the company. Wolfe Research raised shares of Chord Energy from a "peer perform" rating to an "outperform" rating and set a $155.00 price target on the stock in a research note on Friday, January 3rd. Piper Sandler reduced their target price on shares of Chord Energy from $193.00 to $184.00 and set an "overweight" rating on the stock in a report on Thursday, March 6th. 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 report on Wednesday, January 15th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $164.62.

Chord Energy Company 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.