30,277 Shares in Chord Energy Co. (NASDAQ:CHRD) Acquired by Proficio Capital Partners LLC

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

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Stone House Investment Management LLC acquired a new position in shares of Chord Energy in the 3rd quarter valued at $26,000. Brooklyn Investment Group acquired a new position in shares of Chord Energy in the fourth quarter valued at about $29,000. R Squared Ltd purchased a new position in shares of Chord Energy in the fourth quarter worth about $51,000. Venturi Wealth Management LLC lifted its holdings 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 purchasing an additional 473 shares during the period. Finally, Union Bancaire Privee UBP SA purchased a new stake in Chord Energy in the fourth quarter valued at approximately $77,000. Hedge funds and other institutional investors own 97.76% of the company's stock.

Chord Energy Price Performance

Shares of NASDAQ:CHRD traded down $1.08 during midday trading on Friday, hitting $109.71. The company had a trading volume of 3,140,778 shares, compared to its average volume of 918,667. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.93 and a quick ratio of 0.89. The business's 50-day simple moving average is $113.21 and its 200-day simple moving average is $122.43. The stock has a market cap of $6.54 billion, a price-to-earnings ratio of 5.65, a price-to-earnings-growth ratio of 5.83 and a beta of 0.98. Chord Energy Co. has a twelve month low of $99.40 and a twelve month high of $190.23.

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Chord Energy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 26th. Stockholders of record on Tuesday, March 11th will be given a dividend of $1.30 per share. This is a positive change from Chord Energy's previous quarterly dividend of $1.25. This represents a $5.20 annualized dividend and a dividend yield of 4.74%. The ex-dividend date is Tuesday, March 11th. Chord Energy's dividend payout ratio (DPR) is currently 32.62%.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. 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 note on Friday, January 3rd. Citigroup downgraded shares of Chord Energy to a "reduce" rating in a research report on Wednesday, March 5th. Piper Sandler cut their price target on Chord Energy from $193.00 to $184.00 and set an "overweight" rating on the stock in a research report on Thursday, March 6th. Wells Fargo & Company decreased their price objective on Chord Energy from $176.00 to $175.00 and set an "overweight" rating for the company in a report on Wednesday, January 15th. Finally, UBS Group dropped their target price on Chord Energy from $168.00 to $161.00 and set a "buy" rating on the stock in a report on Monday, December 9th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $164.62.

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.