Chord Energy Co. (NASDAQ:CHRD) Stock Position Reduced by Corient Private Wealth LLC

Corient Private Wealth LLC reduced its position in shares of Chord Energy Co. (NASDAQ:CHRD - Free Report) by 48.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 18,849 shares of the company's stock after selling 17,530 shares during the period. Corient Private Wealth LLC's holdings in Chord Energy were worth $2,204,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of CHRD. Pacer Advisors Inc. grew its position in shares of Chord Energy by 50.4% in the fourth 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 period. Victory Capital Management Inc. boosted its stake in Chord Energy by 27.6% in the 4th quarter. Victory Capital Management Inc. now owns 2,864,456 shares of the company's stock worth $334,912,000 after buying an additional 619,021 shares during the last quarter. Point72 Asset Management L.P. grew its holdings in Chord Energy by 143.8% in the 3rd quarter. Point72 Asset Management L.P. now owns 880,787 shares of the company's stock valued at $114,705,000 after buying an additional 519,547 shares during the period. Raymond James Financial Inc. acquired a new position in shares of Chord Energy during the 4th quarter valued at about $29,984,000. Finally, Allspring Global Investments Holdings LLC lifted its holdings in shares of Chord Energy by 30.1% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 744,309 shares of the company's stock worth $88,459,000 after acquiring an additional 172,196 shares during the period. 97.76% of the stock is currently owned by hedge funds and other institutional investors.

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Wall Street Analyst Weigh In

CHRD has been the subject of several research analyst reports. Wells Fargo & Company dropped their price target on shares of Chord Energy from $175.00 to $166.00 and set an "overweight" rating for the company in a research report on Monday. Morgan Stanley began coverage on Chord Energy in a research report on Friday, January 10th. They issued an "equal weight" rating and a $158.00 target price on the stock. Truist Financial lifted their target price on Chord Energy from $185.00 to $186.00 and gave the company a "buy" rating in a report on Monday, January 13th. Piper Sandler decreased their target price on Chord Energy from $193.00 to $184.00 and set an "overweight" rating for the company in a report on Thursday, March 6th. Finally, Bank of America reiterated a "neutral" rating and set a $138.00 price objective (down from $208.00) on shares of Chord Energy in a research note on Monday, January 13th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $163.92.

Chord Energy Stock Down 0.4 %

CHRD stock traded down $0.42 during midday trading on Tuesday, hitting $112.36. 409,799 shares of the company's stock were exchanged, compared to its average volume of 921,994. The stock has a market capitalization of $6.70 billion, a price-to-earnings ratio of 5.79, a price-to-earnings-growth 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. The firm has a 50 day moving average price of $112.66 and a 200-day moving average price of $121.74. Chord Energy Co. has a 12-month low of $99.40 and a 12-month high of $190.23.

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 issued a $1.30 dividend. The ex-dividend date is Tuesday, March 11th. This is a boost from Chord Energy's previous quarterly dividend of $1.25. This represents a $5.20 annualized dividend and a yield of 4.63%. Chord Energy's dividend payout ratio is currently 32.62%.

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.