Prudential Financial Inc. Sells 5,606 Shares of Chord Energy Co. (NASDAQ:CHRD)

Prudential Financial Inc. lessened its stake in Chord Energy Co. (NASDAQ:CHRD - Free Report) by 55.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 4,503 shares of the company's stock after selling 5,606 shares during the period. Prudential Financial Inc.'s holdings in Chord Energy were worth $573,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Delta Capital Management LLC boosted its holdings in shares of Chord Energy by 4.3% during the 4th quarter. Delta Capital Management LLC now owns 2,200 shares of the company's stock worth $257,000 after buying an additional 90 shares in the last quarter. Gables Capital Management Inc. lifted its position in shares of Chord Energy by 6.9% during the 4th quarter. Gables Capital Management Inc. now owns 1,550 shares of the company's stock valued at $181,000 after acquiring an additional 100 shares during the period. Envestnet Portfolio Solutions Inc. lifted its position in shares of Chord Energy by 2.9% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 3,710 shares of the company's stock valued at $434,000 after acquiring an additional 106 shares during the period. Exchange Traded Concepts LLC boosted its stake in Chord Energy by 1.8% during the fourth quarter. Exchange Traded Concepts LLC now owns 6,145 shares of the company's stock worth $718,000 after acquiring an additional 110 shares in the last quarter. Finally, Blue Trust Inc. grew its holdings in Chord Energy by 4.0% in the fourth quarter. Blue Trust Inc. now owns 3,334 shares of the company's stock worth $390,000 after purchasing an additional 128 shares during the period. Institutional investors and hedge funds own 97.76% of the company's stock.

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Analysts Set New Price Targets

CHRD has been the topic of a number of research analyst reports. Wells Fargo & Company cut their price objective on shares of Chord Energy from $175.00 to $166.00 and set an "overweight" rating on the stock in a research report on Monday, March 24th. Mizuho cut their price target on Chord Energy from $192.00 to $178.00 and set an "outperform" rating on the stock in a report on Monday, December 16th. Citigroup decreased their price objective on Chord Energy from $135.00 to $120.00 and set a "buy" rating for the company in a report on Monday, April 7th. 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 report on Friday, January 3rd. Finally, Piper Sandler reduced 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 report on Thursday, March 6th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $157.62.

Chord Energy Stock Up 4.0 %

NASDAQ:CHRD traded up $3.45 on Friday, hitting $89.34. The stock had a trading volume of 1,154,332 shares, compared to its average volume of 967,550. Chord Energy Co. has a 1 year low of $79.83 and a 1 year high of $188.41. The firm's fifty day simple moving average is $106.10 and its two-hundred day simple moving average is $117.95. The stock has a market cap of $5.31 billion, a P/E ratio of 4.60, a price-to-earnings-growth ratio of 5.83 and a beta of 0.96. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.89 and a current ratio of 0.93.

Chord Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 26th. Shareholders of record on Tuesday, March 11th were paid a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a yield of 5.82%. The ex-dividend date was Tuesday, March 11th. This is an increase from Chord Energy's previous quarterly dividend of $1.25. Chord Energy's dividend payout ratio is 32.62%.

Chord Energy Company 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.