Magnetar Financial LLC cut its stake in Chord Energy Co. (NASDAQ:CHRD - Free Report) by 42.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 29,237 shares of the company's stock after selling 21,447 shares during the period. Magnetar Financial LLC's holdings in Chord Energy were worth $3,418,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also modified their holdings of CHRD. FMR LLC boosted its position in Chord Energy by 2.2% in the third quarter. FMR LLC now owns 3,420,012 shares of the company's stock valued at $445,388,000 after buying an additional 74,165 shares in the last quarter. Victory Capital Management Inc. raised its stake in shares of Chord Energy by 27.6% in the fourth quarter. Victory Capital Management Inc. now owns 2,864,456 shares of the company's stock valued at $334,912,000 after acquiring an additional 619,021 shares during the last quarter. State Street Corp boosted its holdings in shares of Chord Energy by 0.9% in 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 in the last quarter. Boston Partners grew its position in Chord Energy by 5.6% during the 4th quarter. Boston Partners now owns 2,186,483 shares of the company's stock worth $255,684,000 after acquiring an additional 115,215 shares during the last quarter. Finally, Pacer Advisors Inc. increased its holdings in Chord Energy by 50.4% during the 4th quarter. Pacer Advisors Inc. now owns 1,872,156 shares of the company's stock valued at $218,892,000 after purchasing an additional 627,122 shares in the last quarter. Institutional investors own 97.76% of the company's stock.
Analysts Set New Price Targets
A number of equities analysts have commented on the company. Williams Trading set a $155.00 price objective on Chord Energy in a research note on Wednesday, March 5th. Bank of America reissued a "neutral" rating and set a $138.00 price objective (down previously from $208.00) on shares of Chord Energy in a report on Monday, January 13th. Wolfe Research upgraded shares of Chord Energy from a "peer perform" rating to an "outperform" rating and set a $155.00 price objective for the company in a research report on Friday, January 3rd. UBS Group reduced their target price on shares of Chord Energy from $168.00 to $161.00 and set a "buy" rating on the stock in a research report on Monday, December 9th. Finally, Morgan Stanley began coverage on shares of Chord Energy in a report on Friday, January 10th. They issued an "equal weight" rating and a $158.00 price target for the company. One investment analyst has rated the stock with a sell rating, three have given a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $163.92.
Get Our Latest Research Report on CHRD
Chord Energy Trading Down 0.2 %
Shares of NASDAQ:CHRD traded down $0.18 during midday trading on Tuesday, hitting $112.60. The company had a trading volume of 785,689 shares, compared to its average volume of 921,994. The firm has a fifty day simple moving average of $112.66 and a 200 day simple moving average of $121.74. The stock has a market cap of $6.71 billion, a price-to-earnings ratio of 5.80, a PEG ratio of 5.83 and a beta of 0.98. The company has a current ratio of 0.93, a quick ratio of 0.89 and a debt-to-equity ratio of 0.10. Chord Energy Co. has a 12 month low of $99.40 and a 12 month high of $190.23.
Chord Energy Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 26th. Stockholders of record on Tuesday, March 11th will be paid a $1.30 dividend. The ex-dividend date of this dividend is Tuesday, March 11th. This is a boost from Chord Energy's previous quarterly dividend of $1.25. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.62%. Chord Energy's dividend payout ratio is 32.62%.
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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