Madison Investment Advisors LLC bought a new stake in Chord Energy Co. (NASDAQ:CHRD - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 35,094 shares of the company's stock, valued at approximately $4,103,000. Madison Investment Advisors LLC owned about 0.06% of Chord Energy at the end of the most recent quarter.
Other institutional investors and hedge funds have also modified their holdings of the company. FMR LLC raised its position in Chord Energy by 2.2% in the 3rd quarter. FMR LLC now owns 3,420,012 shares of the company's stock valued at $445,388,000 after purchasing an additional 74,165 shares during the last quarter. Victory Capital Management Inc. lifted its position in Chord Energy by 27.6% during the 4th quarter. Victory Capital Management Inc. now owns 2,864,456 shares of the company's stock worth $334,912,000 after buying an additional 619,021 shares in the last quarter. State Street Corp grew its holdings in Chord Energy by 0.9% during the 3rd quarter. State Street Corp now owns 2,485,777 shares of the company's stock worth $323,723,000 after acquiring an additional 22,753 shares during the last quarter. Pacer Advisors Inc. increased its position in Chord Energy by 50.4% in the 4th quarter. Pacer Advisors Inc. now owns 1,872,156 shares of the company's stock valued at $218,892,000 after acquiring an additional 627,122 shares in the last quarter. Finally, Geode Capital Management LLC raised its stake in shares of Chord Energy by 3.0% in the third quarter. Geode Capital Management LLC now owns 1,162,442 shares of the company's stock worth $151,077,000 after acquiring an additional 34,156 shares during the last quarter. 97.76% of the stock is owned by institutional investors and hedge funds.
Chord Energy Trading Down 0.2 %
Shares of CHRD traded down $0.18 during trading hours on Tuesday, reaching $112.60. The stock had a trading volume of 785,689 shares, compared to its average volume of 923,428. The company has a market cap of $6.71 billion, a P/E ratio of 5.80, a P/E/G ratio of 5.83 and a beta of 0.98. Chord Energy Co. has a 52 week low of $99.40 and a 52 week high of $190.23. The company has a quick ratio of 0.89, a current ratio of 0.93 and a debt-to-equity ratio of 0.10. The firm has a 50-day moving average of $112.66 and a 200 day moving average of $121.74.
Chord Energy Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 26th. Stockholders of record on Tuesday, March 11th will be given a dividend of $1.30 per share. The ex-dividend date of this dividend is Tuesday, March 11th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.62%. This is a positive change from Chord Energy's previous quarterly dividend of $1.25. Chord Energy's dividend payout ratio (DPR) is currently 32.62%.
Analyst Upgrades and Downgrades
A number of brokerages recently weighed in on CHRD. Mizuho lowered their price target on shares of Chord Energy from $192.00 to $178.00 and set an "outperform" rating for the company in a report on Monday, December 16th. Wolfe Research raised Chord Energy from a "peer perform" rating to an "outperform" rating and set a $155.00 target price for the company in a research note on Friday, January 3rd. 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. UBS Group lowered their price objective on Chord Energy from $168.00 to $161.00 and set a "buy" rating for the company in a research report on Monday, December 9th. Finally, Citigroup downgraded shares of Chord Energy to a "reduce" rating in a research report on Wednesday, March 5th. One analyst has rated the stock with a sell rating, three have issued a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $163.92.
Read Our Latest Analysis on CHRD
Chord Energy Company Profile
(
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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