Proficio Capital Partners LLC Purchases New Shares in Chord Energy Co. (NASDAQ:CHRD)

Proficio Capital Partners LLC acquired a new position in shares of Chord Energy Co. (NASDAQ:CHRD - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 30,277 shares of the company's stock, valued at approximately $3,540,000.

A number of other large investors have also added to or reduced their stakes in the stock. South Dakota Investment Council boosted its position in Chord Energy by 26.2% during the fourth quarter. South Dakota Investment Council now owns 115,302 shares of the company's stock worth $13,481,000 after purchasing an additional 23,952 shares during the period. Union Bancaire Privee UBP SA bought a new position in Chord Energy during the fourth quarter worth about $77,000. TCW Group Inc. boosted its position in Chord Energy by 9.2% during the fourth quarter. TCW Group Inc. now owns 36,640 shares of the company's stock worth $4,284,000 after purchasing an additional 3,100 shares during the period. Callan Capital LLC bought a new position in Chord Energy during the fourth quarter worth about $212,000. Finally, Venturi Wealth Management LLC boosted its position in 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 purchasing an additional 473 shares during the period. Hedge funds and other institutional investors own 97.76% of the company's stock.

Chord Energy Price Performance

Shares of CHRD stock traded up $1.18 during trading hours on Friday, hitting $103.63. 1,054,241 shares of the company's stock were exchanged, compared to its average volume of 860,783. The company has a market capitalization of $6.18 billion, a PE ratio of 5.34, a PEG ratio of 5.83 and a beta of 0.98. Chord Energy Co. has a 12-month low of $99.40 and a 12-month high of $190.23. The business's 50 day simple moving average is $115.54 and its 200-day simple moving average is $125.06. The company has a current ratio of 0.93, a quick ratio of 0.89 and a debt-to-equity ratio of 0.10.

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Chord Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 26th. Shareholders of record on Tuesday, March 11th will be paid a dividend of $1.30 per share. The ex-dividend date of this dividend is Tuesday, March 11th. This is an increase from Chord Energy's previous quarterly dividend of $1.25. This represents a $5.20 annualized dividend and a dividend yield of 5.02%. Chord Energy's dividend payout ratio (DPR) is 32.62%.

Insiders Place Their Bets

In related news, CAO Shannon Browning Kinney sold 1,000 shares of Chord Energy stock in a transaction on Monday, December 16th. The shares were sold at an average price of $116.35, for a total value of $116,350.00. Following the transaction, the chief accounting officer now directly owns 19,488 shares of the company's stock, valued at $2,267,428.80. The trade was a 4.88 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.70% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on CHRD shares. Truist Financial increased 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. Morgan Stanley began coverage on shares of Chord Energy in a research report on Friday, January 10th. They set an "equal weight" rating and a $158.00 target price for the company. 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. Citigroup cut their price objective on shares of Chord Energy from $160.00 to $135.00 and set a "buy" rating for the company in a research report on Tuesday. Finally, Bank of America restated a "neutral" rating and issued a $138.00 price objective (down from $208.00) on shares of Chord Energy in a research report on Monday, January 13th. Three research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Chord Energy presently has a consensus rating of "Moderate Buy" and an average target price of $165.42.

About Chord Energy

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.