Mitsubishi UFJ Asset Management Co. Ltd. trimmed its holdings in Chord Energy Co. (NASDAQ:CHRD - Free Report) by 99.5% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 215 shares of the company's stock after selling 41,231 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd.'s holdings in Chord Energy were worth $26,000 as of its most recent SEC filing.
Several other hedge funds also recently added to or reduced their stakes in CHRD. Brooklyn Investment Group purchased a new stake in shares of Chord Energy in the 4th quarter valued at about $29,000. Twin Tree Management LP acquired a new position in Chord Energy during the fourth quarter worth approximately $33,000. Larson Financial Group LLC lifted its stake in 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 acquired a new stake in shares of Chord Energy in the fourth quarter valued at approximately $51,000. Finally, Venturi Wealth Management LLC grew its position in shares of Chord Energy by 1,751.9% during the fourth quarter. Venturi Wealth Management LLC now owns 500 shares of the company's stock worth $58,000 after acquiring an additional 473 shares during the last quarter. 97.76% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
A number of analysts recently weighed in on the stock. Piper Sandler decreased their price target on shares of Chord Energy from $193.00 to $184.00 and set an "overweight" rating for the company in a research note on Thursday, March 6th. Citigroup lowered their price target on Chord Energy from $135.00 to $120.00 and set a "buy" rating on the stock in a report on Monday. Bank of America reduced their price objective on Chord Energy from $138.00 to $125.00 and set a "neutral" rating for the company in a research note on Tuesday, April 1st. Wolfe Research upgraded Chord Energy from a "peer perform" rating to an "outperform" rating and set a $155.00 target price on the stock in a research note on Friday, January 3rd. Finally, Truist Financial upped their price target on Chord Energy from $185.00 to $186.00 and gave the stock a "buy" rating in a research note on Monday, January 13th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Chord Energy has a consensus rating of "Moderate Buy" and a consensus target price of $160.31.
View Our Latest Stock Report on CHRD
Chord Energy Price Performance
Shares of NASDAQ:CHRD traded up $12.96 during trading on Wednesday, hitting $94.99. 1,765,658 shares of the stock were exchanged, compared to its average volume of 962,632. Chord Energy Co. has a 12-month low of $79.12 and a 12-month high of $190.23. The company has a market cap of $5.65 billion, a PE ratio of 4.89, a P/E/G ratio of 5.83 and a beta of 0.96. The company has a fifty day moving average price of $107.06 and a two-hundred day moving average price of $118.65. 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 Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Wednesday, March 26th. Shareholders of record on Tuesday, March 11th were issued a $1.30 dividend. This is a positive change from Chord Energy's previous quarterly dividend of $1.25. The ex-dividend date was Tuesday, March 11th. This represents a $5.20 annualized dividend and a yield of 5.47%. Chord Energy's dividend payout ratio is 32.62%.
Chord Energy 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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