Pictet Asset Management Holding SA Sells 21,080 Shares of Chord Energy Co. (NASDAQ:CHRD)

Pictet Asset Management Holding SA lessened its holdings in shares of Chord Energy Co. (NASDAQ:CHRD - Free Report) by 71.4% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 8,455 shares of the company's stock after selling 21,080 shares during the quarter. Pictet Asset Management Holding SA's holdings in Chord Energy were worth $989,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Benjamin Edwards Inc. lifted its position in shares of Chord Energy by 61.3% in the third quarter. Benjamin Edwards Inc. now owns 3,117 shares of the company's stock worth $407,000 after buying an additional 1,184 shares during the last quarter. HighTower Advisors LLC lifted its holdings in Chord Energy by 58.7% in the 3rd quarter. HighTower Advisors LLC now owns 6,821 shares of the company's stock worth $899,000 after purchasing an additional 2,522 shares during the last quarter. Investment Management Corp of Ontario boosted its position in Chord Energy by 42.9% during the third quarter. Investment Management Corp of Ontario now owns 2,000 shares of the company's stock worth $260,000 after purchasing an additional 600 shares during the period. Quantinno Capital Management LP acquired a new position in Chord Energy during the third quarter valued at approximately $201,000. Finally, Stifel Financial Corp raised its position in shares of Chord Energy by 28.9% in the third quarter. Stifel Financial Corp now owns 105,992 shares of the company's stock valued at $13,802,000 after purchasing an additional 23,794 shares during the period. 97.76% of the stock is currently owned by institutional investors and hedge funds.

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Wall Street Analyst Weigh In

Several analysts recently issued reports on CHRD shares. Royal Bank of Canada decreased their price objective on shares of Chord Energy from $165.00 to $145.00 and set an "outperform" rating for the company in a report on Friday. Citigroup decreased their price target on shares of Chord Energy from $135.00 to $120.00 and set a "buy" rating for the company in a report on Monday. Truist Financial lifted their price objective on Chord Energy from $185.00 to $186.00 and gave the stock a "buy" rating in a research note on Monday, January 13th. Williams Trading set a $155.00 target price on Chord Energy in a research note on Wednesday, March 5th. Finally, Bank of America lowered their target price on Chord Energy from $138.00 to $125.00 and set a "neutral" rating on the stock in a report on Tuesday, April 1st. One analyst has rated the stock with a sell rating, two have given a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $157.62.

Chord Energy Stock Performance

CHRD stock traded up $3.45 during midday trading on Friday, hitting $89.34. The stock had a trading volume of 1,154,332 shares, compared to its average volume of 968,493. Chord Energy Co. has a 52 week low of $79.83 and a 52 week high of $190.23. The company has a current ratio of 0.93, a quick ratio of 0.89 and a debt-to-equity ratio of 0.10. The stock has a 50-day simple moving average of $106.56 and a 200 day simple moving average of $118.31. The firm has a market capitalization of $5.31 billion, a price-to-earnings ratio of 4.60, a P/E/G ratio of 5.83 and a beta of 0.96.

Chord Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 26th. Stockholders 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 5.82%. This is an increase from Chord Energy's previous quarterly dividend of $1.25. The ex-dividend date was Tuesday, March 11th. Chord Energy's dividend payout ratio (DPR) is presently 32.62%.

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.