Legal & General Group Plc Sells 197,856 Shares of Chord Energy Co. (NASDAQ:CHRD)

Legal & General Group Plc cut its stake in shares of Chord Energy Co. (NASDAQ:CHRD - Free Report) by 56.0% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 155,737 shares of the company's stock after selling 197,856 shares during the quarter. Legal & General Group Plc owned approximately 0.25% of Chord Energy worth $17,922,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Brooklyn Investment Group bought a new position in Chord Energy during the 4th quarter valued at about $29,000. Twin Tree Management LP acquired a new stake in shares of Chord Energy in the fourth quarter valued at $33,000. Larson Financial Group LLC raised its holdings 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 valued at $37,000 after buying an additional 224 shares during the last quarter. R Squared Ltd bought a new position in shares of Chord Energy in the fourth quarter valued at about $51,000. Finally, Venturi Wealth Management LLC lifted its position in Chord Energy by 1,751.9% during the 4th quarter. Venturi Wealth Management LLC now owns 500 shares of the company's stock worth $58,000 after buying an additional 473 shares in the last quarter. Institutional investors and hedge funds own 97.76% of the company's stock.

Chord Energy Trading Up 4.0 %

Shares of Chord Energy stock traded up $3.59 during trading hours on Friday, hitting $94.43. The company's stock had a trading volume of 767,619 shares, compared to its average volume of 970,162. The company 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. 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 stock has a 50 day moving average of $104.52 and a 200 day moving average of $117.02. Chord Energy Co. has a 12 month low of $79.83 and a 12 month high of $188.02.

Chord Energy Increases Dividend

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

Analyst Upgrades and Downgrades

CHRD has been the topic of a number of research reports. Williams Trading set a $155.00 target price on shares of Chord Energy in a research report on Wednesday, March 5th. Royal Bank of Canada reduced their price objective on Chord Energy from $165.00 to $145.00 and set an "outperform" rating on the stock in a report on Friday, April 11th. Wolfe Research upgraded Chord Energy from a "peer perform" rating to an "outperform" rating and set a $155.00 price objective on the stock in a research report on Friday, January 3rd. Morgan Stanley set a $139.00 target price on Chord Energy and gave the stock a "cautious" rating in a research report on Wednesday, March 26th. Finally, Piper Sandler decreased their price target on Chord Energy from $193.00 to $184.00 and set an "overweight" rating on the stock in a report on Thursday, March 6th. One research analyst has rated the stock with a sell rating, two have given a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Chord Energy has an average rating of "Moderate Buy" and an average target price of $157.00.

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.