Chord Energy Co. (NASDAQ:CHRD) Shares Acquired by HITE Hedge Asset Management LLC

HITE Hedge Asset Management LLC raised its holdings in Chord Energy Co. (NASDAQ:CHRD - Free Report) by 50.4% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 348,929 shares of the company's stock after acquiring an additional 116,877 shares during the period. Chord Energy accounts for about 3.0% of HITE Hedge Asset Management LLC's holdings, making the stock its 10th biggest position. HITE Hedge Asset Management LLC owned 0.57% of Chord Energy worth $40,797,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the business. Altshuler Shaham Ltd purchased a new position in Chord Energy during the fourth quarter worth about $25,000. Brooklyn Investment Group purchased a new position in shares of Chord Energy during the 4th quarter worth about $29,000. Twin Tree Management LP acquired a new stake in shares of Chord Energy in the fourth quarter worth approximately $33,000. Larson Financial Group LLC boosted its position in shares of Chord Energy by 238.3% in the fourth quarter. Larson Financial Group LLC now owns 318 shares of the company's stock worth $37,000 after acquiring an additional 224 shares during the last quarter. Finally, R Squared Ltd purchased a new stake in Chord Energy in the fourth quarter valued at approximately $51,000. Hedge funds and other institutional investors own 97.76% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Citigroup dropped their price objective on Chord Energy from $135.00 to $120.00 and set a "buy" rating for the company in a report on Monday, April 7th. Morgan Stanley set a $139.00 price objective on Chord Energy and gave the company a "cautious" rating in a research note on Wednesday, March 26th. Bank of America cut their price target 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. Royal Bank of Canada decreased their price objective on shares of Chord Energy from $165.00 to $145.00 and set an "outperform" rating for the company in a research note on Friday, April 11th. Finally, Truist Financial lifted their target price on shares of Chord Energy from $185.00 to $186.00 and gave the company a "buy" rating in a report on Monday, January 13th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $157.00.

Chord Energy Stock Up 4.0 %

CHRD traded up $3.59 during trading on Friday, hitting $94.43. The company had a trading volume of 767,619 shares, compared to its average volume of 972,099. Chord Energy Co. has a 1-year low of $79.83 and a 1-year high of $188.02. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.93 and a quick ratio of 0.89. The company has a market cap of $5.62 billion, a PE ratio of 4.86, a P/E/G ratio of 5.83 and a beta of 0.96. The business has a 50-day moving average of $104.12 and a 200-day moving average of $116.54.

Chord Energy Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 26th. Stockholders of record on Tuesday, March 11th were paid a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a dividend yield of 5.51%. The ex-dividend date was Tuesday, March 11th. This is a positive change from Chord Energy's previous quarterly dividend of $1.25. Chord Energy's dividend payout ratio is 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.