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

Xponance Inc. lessened its stake in Chord Energy Co. (NASDAQ:CHRD - Free Report) by 27.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,979 shares of the company's stock after selling 2,666 shares during the quarter. Xponance Inc.'s holdings in Chord Energy were worth $816,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Stone House Investment Management LLC bought a new position in Chord Energy in the third quarter valued at about $26,000. Brooklyn Investment Group acquired a new position in Chord Energy during the 4th quarter worth approximately $29,000. Twin Tree Management LP bought a new position in Chord Energy in the 4th quarter valued at approximately $33,000. Larson Financial Group LLC boosted its position in Chord Energy by 238.3% in the fourth quarter. Larson Financial Group LLC now owns 318 shares of the company's stock valued at $37,000 after buying an additional 224 shares in the last quarter. Finally, R Squared Ltd bought a new stake in shares of Chord Energy during the fourth quarter worth $51,000. 97.76% of the stock is currently owned by institutional investors and hedge funds.

Chord Energy Stock Down 0.2 %

Shares of CHRD stock traded down $0.18 during trading hours on Tuesday, reaching $112.60. 785,689 shares of the company's stock were exchanged, compared to its average volume of 923,428. The stock's fifty day moving average price is $112.66 and its two-hundred day moving average price is $121.74. The stock has a market cap of $6.71 billion, a PE ratio of 5.80, a PEG ratio of 5.83 and a beta of 0.98. The company has a current ratio of 0.93, a quick ratio of 0.89 and a debt-to-equity ratio of 0.10. Chord Energy Co. has a 1 year low of $99.40 and a 1 year high of $190.23.

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Chord Energy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 26th. Investors of record on Tuesday, March 11th will be issued a dividend of $1.30 per share. The ex-dividend date of this dividend is Tuesday, March 11th. This is an increase from Chord Energy's previous quarterly dividend of $1.25. This represents a $5.20 dividend on an annualized basis and a yield of 4.62%. Chord Energy's dividend payout ratio is 32.62%.

Analysts Set New Price Targets

Several equities analysts have commented on CHRD shares. Bank of America reiterated a "neutral" rating and issued a $138.00 target price (down from $208.00) on shares of Chord Energy in a research report on Monday, January 13th. Wells Fargo & Company dropped their price objective on Chord Energy from $175.00 to $166.00 and set an "overweight" rating on the stock in a research note on Monday. Williams Trading set a $155.00 target price on Chord Energy in a research report on Wednesday, March 5th. Piper Sandler decreased their price target 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. Finally, 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 price target on the stock. One investment analyst has rated the stock with a sell rating, three have given a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $163.92.

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.