Invesco Ltd. Sells 195,980 Shares of Chord Energy Co. (NASDAQ:CHRD)

Invesco Ltd. trimmed its holdings in shares of Chord Energy Co. (NASDAQ:CHRD - Free Report) by 38.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 315,141 shares of the company's stock after selling 195,980 shares during the quarter. Invesco Ltd. owned about 0.52% of Chord Energy worth $36,846,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. Delta Capital Management LLC increased its holdings in shares of Chord Energy by 4.3% during the 4th quarter. Delta Capital Management LLC now owns 2,200 shares of the company's stock valued at $257,000 after acquiring an additional 90 shares during the last quarter. Gables Capital Management Inc. grew its holdings in Chord Energy by 6.9% during the fourth quarter. Gables Capital Management Inc. now owns 1,550 shares of the company's stock valued at $181,000 after purchasing an additional 100 shares during the last quarter. Envestnet Portfolio Solutions Inc. raised its position in shares of Chord Energy by 2.9% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 3,710 shares of the company's stock valued at $434,000 after purchasing an additional 106 shares during the period. Exchange Traded Concepts LLC lifted its stake in shares of Chord Energy by 1.8% in the fourth quarter. Exchange Traded Concepts LLC now owns 6,145 shares of the company's stock worth $718,000 after buying an additional 110 shares during the last quarter. Finally, Blue Trust Inc. boosted its holdings in shares of Chord Energy by 4.0% during the 4th quarter. Blue Trust Inc. now owns 3,334 shares of the company's stock worth $390,000 after buying an additional 128 shares during the period. 97.76% of the stock is currently owned by institutional investors.

Chord Energy Price Performance

Shares of NASDAQ:CHRD traded up $3.59 during midday trading on Friday, reaching $94.43. 767,619 shares of the company's stock were exchanged, compared to its average volume of 972,099. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.89 and a current ratio of 0.93. The company's 50 day simple moving average is $104.12 and its two-hundred day simple moving average is $116.67. Chord Energy Co. has a 12 month low of $79.83 and a 12 month high of $188.02. The firm has a market capitalization of $5.62 billion, a PE ratio of 4.86, a price-to-earnings-growth ratio of 5.83 and a beta of 0.96.

Chord Energy Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 26th. Shareholders of record on Tuesday, March 11th were paid a dividend of $1.30 per share. This is a boost from Chord Energy's previous quarterly dividend of $1.25. The ex-dividend date was Tuesday, March 11th. This represents a $5.20 dividend on an annualized basis and a yield of 5.51%. Chord Energy's dividend payout ratio (DPR) is currently 32.62%.

Analysts Set New Price Targets

A number of research analysts have weighed in on CHRD shares. Williams Trading set a $155.00 target price on shares of Chord Energy in a research report on Wednesday, March 5th. Truist Financial increased their target price on Chord Energy from $185.00 to $186.00 and gave the company a "buy" rating in a research note on Monday, January 13th. Piper Sandler dropped 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. Morgan Stanley set a $139.00 price target on Chord Energy and gave the stock a "cautious" rating in a report on Wednesday, March 26th. Finally, Royal Bank of Canada lowered their price objective on shares of Chord Energy from $165.00 to $145.00 and set an "outperform" rating on the stock in a research note on Friday, April 11th. 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 stock. Based on data from MarketBeat, Chord Energy currently has an average rating of "Moderate Buy" and a consensus target price of $157.00.

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.