Raymond James Financial Inc. Invests $29.98 Million in Chord Energy Co. (NASDAQ:CHRD)

Raymond James Financial Inc. acquired a new position in shares of Chord Energy Co. (NASDAQ:CHRD - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 256,445 shares of the company's stock, valued at approximately $29,984,000. Raymond James Financial Inc. owned about 0.42% of Chord Energy at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of CHRD. Pacer Advisors Inc. raised its stake in shares of Chord Energy by 50.4% in the 4th quarter. Pacer Advisors Inc. now owns 1,872,156 shares of the company's stock valued at $218,892,000 after acquiring an additional 627,122 shares during the period. Victory Capital Management Inc. raised its position in Chord Energy by 27.6% in the fourth quarter. Victory Capital Management Inc. now owns 2,864,456 shares of the company's stock valued at $334,912,000 after purchasing an additional 619,021 shares during the period. FMR LLC lifted its stake in Chord Energy by 11.5% during the fourth quarter. FMR LLC now owns 3,814,384 shares of the company's stock worth $445,978,000 after purchasing an additional 394,372 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its position in shares of Chord Energy by 30.1% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 744,309 shares of the company's stock worth $88,459,000 after buying an additional 172,196 shares during the period. Finally, American Century Companies Inc. grew its stake in shares of Chord Energy by 15.0% in the fourth quarter. American Century Companies Inc. now owns 1,116,073 shares of the company's stock valued at $130,491,000 after buying an additional 145,627 shares in the last quarter. Institutional investors and hedge funds own 97.76% of the company's stock.

Chord Energy Trading Up 4.0 %

CHRD opened at $94.43 on Friday. 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 Co. has a one year low of $79.83 and a one year high of $188.02. The company has a market cap of $5.62 billion, a P/E ratio of 4.86, a PEG ratio of 5.83 and a beta of 0.96. The business's 50-day simple moving average is $104.89 and its 200-day simple moving average is $117.26.

Chord Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 26th. Stockholders of record on Tuesday, March 11th were given a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a dividend yield of 5.51%. 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 payout ratio is currently 32.62%.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Wells Fargo & Company lowered their target price on Chord Energy from $166.00 to $158.00 and set an "overweight" rating for the company in a report on Tuesday. Bank of America dropped their price objective on shares of Chord Energy from $138.00 to $125.00 and set a "neutral" rating for the company in a report on Tuesday, April 1st. Piper Sandler reduced their target price on shares of Chord Energy from $193.00 to $184.00 and set an "overweight" rating on the stock in a report on Thursday, March 6th. Truist Financial boosted their price target on shares of Chord Energy from $185.00 to $186.00 and gave the stock a "buy" rating in a research note on Monday, January 13th. Finally, Wolfe Research upgraded Chord Energy from a "peer perform" rating to an "outperform" rating and set a $155.00 price objective on the stock in a research note on Friday, January 3rd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, nine have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, Chord Energy has an average rating of "Moderate Buy" and an average target price of $157.00.

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.

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