Nomura Asset Management Co. Ltd. Trims Stock Position in Chord Energy Co. (NASDAQ:CHRD)

Nomura Asset Management Co. Ltd. decreased its stake in shares of Chord Energy Co. (NASDAQ:CHRD - Free Report) by 98.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 411 shares of the company's stock after selling 30,267 shares during the period. Nomura Asset Management Co. Ltd.'s holdings in Chord Energy were worth $48,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Brooklyn Investment Group purchased a new stake in Chord Energy in the fourth quarter worth about $29,000. Twin Tree Management LP bought a new position in shares of Chord Energy during the 4th quarter valued at approximately $33,000. Larson Financial Group LLC increased its holdings in Chord Energy by 238.3% in the 4th quarter. Larson Financial Group LLC now owns 318 shares of the company's stock worth $37,000 after acquiring an additional 224 shares in the last quarter. R Squared Ltd bought a new stake in Chord Energy during the 4th quarter worth approximately $51,000. Finally, Venturi Wealth Management LLC raised its stake 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 acquiring an additional 473 shares during the period. Hedge funds and other institutional investors own 97.76% of the company's stock.

Chord Energy Trading Down 4.6 %

Shares of Chord Energy stock traded down $3.99 during trading on Tuesday, hitting $82.03. The stock had a trading volume of 1,470,571 shares, compared to its average volume of 957,752. The stock has a market cap of $4.88 billion, a PE ratio of 4.22, a PEG ratio of 5.83 and a beta of 0.96. Chord Energy Co. has a 12 month low of $80.80 and a 12 month high of $190.23. The firm's fifty day simple moving average is $107.82 and its 200-day simple moving average is $119.11. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.93 and a quick ratio of 0.89.

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Chord Energy Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 26th. Stockholders of record on Tuesday, March 11th were issued a $1.30 dividend. This represents a $5.20 annualized dividend and a dividend yield of 6.34%. This is an increase 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 is presently 32.62%.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Bank of America cut their target price on Chord Energy from $138.00 to $125.00 and set a "neutral" rating for the company in a research report on Tuesday, April 1st. Wells Fargo & Company cut their price objective on shares of Chord Energy from $175.00 to $166.00 and set an "overweight" rating for the company in a report on Monday, March 24th. Mizuho lowered their target price on shares of Chord Energy from $192.00 to $178.00 and set an "outperform" rating on the stock in a report on Monday, December 16th. Truist Financial upped their target price on shares of Chord Energy from $185.00 to $186.00 and gave the stock a "buy" rating in a research report on Monday, January 13th. Finally, Wolfe Research upgraded shares of Chord Energy from a "peer perform" rating to an "outperform" rating and set a $155.00 price target on the stock in a report on Friday, January 3rd. One investment analyst has rated the stock with a sell rating, two have given a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $160.31.

Chord Energy 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.