FMR LLC raised its holdings in Chord Energy Co. (NASDAQ:CHRD - Free Report) by 11.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,814,384 shares of the company's stock after purchasing an additional 394,372 shares during the period. FMR LLC owned 6.24% of Chord Energy worth $445,978,000 at the end of the most recent reporting period.
Several other large investors have also modified their holdings of CHRD. HighTower Advisors LLC lifted its stake in Chord Energy by 58.7% in the 3rd quarter. HighTower Advisors LLC now owns 6,821 shares of the company's stock valued at $899,000 after buying an additional 2,522 shares in the last quarter. Quantinno Capital Management LP acquired a new position in shares of Chord Energy in the third quarter worth $201,000. Stifel Financial Corp lifted its position in shares of Chord Energy by 28.9% in the third quarter. Stifel Financial Corp now owns 105,992 shares of the company's stock valued at $13,802,000 after acquiring an additional 23,794 shares in the last quarter. State Street Corp boosted its stake in shares of Chord Energy by 0.9% during the third quarter. State Street Corp now owns 2,485,777 shares of the company's stock valued at $323,723,000 after acquiring an additional 22,753 shares during the last quarter. Finally, EP Wealth Advisors LLC acquired a new stake in shares of Chord Energy during the third quarter valued at $424,000. 97.76% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
A number of research analysts have issued reports on the stock. 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. Mizuho lowered their target price on shares of Chord Energy from $192.00 to $178.00 and set an "outperform" rating for the company in a research note on Monday, December 16th. Bank of America cut their price target on Chord Energy from $138.00 to $125.00 and set a "neutral" rating for the company in a report on Tuesday, April 1st. Morgan Stanley set a $139.00 price objective on Chord Energy and gave the stock a "cautious" rating in a report on Wednesday, March 26th. Finally, Williams Trading set a $155.00 target price on Chord Energy in a research note on Wednesday, March 5th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $157.00.
Get Our Latest Stock Report on Chord Energy
Chord Energy Stock Performance
CHRD traded up $0.90 during trading on Tuesday, reaching $89.42. 177,319 shares of the company were exchanged, compared to its average volume of 964,705. Chord Energy Co. has a 52 week low of $79.83 and a 52 week high of $188.41. 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 of $105.66 and a 200 day moving average of $117.65. The stock has a market cap of $5.32 billion, a P/E ratio of 4.60, a PEG ratio of 5.83 and a beta of 0.96.
Chord Energy Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 26th. Investors of record on Tuesday, March 11th were issued a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a dividend yield of 5.82%. The ex-dividend date of this dividend was Tuesday, March 11th. This is a boost from Chord Energy's previous quarterly dividend of $1.25. Chord Energy's dividend payout ratio (DPR) is 32.62%.
About Chord Energy
(
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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