Envestnet Asset Management Inc. Has $9.90 Million Stock Position in Chord Energy Co. (NASDAQ:CHRD)

Envestnet Asset Management Inc. lessened its stake in shares of Chord Energy Co. (NASDAQ:CHRD - Free Report) by 39.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 84,711 shares of the company's stock after selling 55,725 shares during the period. Envestnet Asset Management Inc. owned 0.14% of Chord Energy worth $9,904,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in CHRD. Brooklyn Investment Group acquired a new position in Chord Energy during the fourth quarter valued at approximately $29,000. Twin Tree Management LP bought a new position in shares of Chord Energy in the 4th quarter valued at $33,000. Larson Financial Group LLC raised its holdings in shares of Chord Energy by 238.3% during the 4th quarter. Larson Financial Group LLC now owns 318 shares of the company's stock worth $37,000 after buying an additional 224 shares in the last quarter. R Squared Ltd bought a new stake in shares of Chord Energy during the 4th quarter worth $51,000. Finally, Venturi Wealth Management LLC boosted its stake in Chord Energy by 1,751.9% in the fourth quarter. Venturi Wealth Management LLC now owns 500 shares of the company's stock valued at $58,000 after buying an additional 473 shares in the last quarter. 97.76% of the stock is owned by institutional investors and hedge funds.

Chord Energy Stock Up 1.4 %

Shares of Chord Energy stock traded up $1.35 during trading on Thursday, reaching $94.14. 161,766 shares of the company traded hands, compared to its average volume of 969,840. The firm has a market capitalization of $5.60 billion, a PE ratio of 4.84, a P/E/G ratio of 5.83 and a beta of 0.96. Chord Energy Co. has a 1-year low of $79.83 and a 1-year high of $188.02. The company has a 50 day moving average price of $103.10 and a 200-day moving average price of $115.93. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.93 and a quick ratio of 0.89.

Chord Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 26th. Stockholders of record on Tuesday, March 11th were given a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a dividend yield of 5.52%. The ex-dividend date was Tuesday, March 11th. This is a boost from Chord Energy's previous quarterly dividend of $1.25. Chord Energy's dividend payout ratio is 32.62%.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on CHRD. Williams Trading set a $155.00 target price on shares of Chord Energy in a report on Wednesday, March 5th. Truist Financial boosted their target price 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 stock a "cautious" rating in a report on Wednesday, March 26th. Citigroup cut their price target on Chord Energy from $135.00 to $120.00 and set a "buy" rating on the stock in a research note on Monday, April 7th. Finally, Bank of America reduced their target price on shares of Chord Energy from $138.00 to $125.00 and set a "neutral" rating on the stock in a report on Tuesday, April 1st. One analyst has rated the stock with a sell rating, two have given a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $156.92.

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.