Chord Energy Co. (NASDAQ:CHRD) Holdings Lowered by Rhumbline Advisers

Rhumbline Advisers trimmed its holdings in Chord Energy Co. (NASDAQ:CHRD - Free Report) by 1.3% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 166,247 shares of the company's stock after selling 2,225 shares during the period. Rhumbline Advisers owned about 0.27% of Chord Energy worth $19,438,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in CHRD. Pacer Advisors Inc. boosted its stake in Chord Energy by 8,762.1% during the 3rd quarter. Pacer Advisors Inc. now owns 1,245,034 shares of the company's stock valued at $162,141,000 after acquiring an additional 1,230,985 shares during the last quarter. Victory Capital Management Inc. raised its stake in shares of Chord Energy by 41.3% in the 3rd quarter. Victory Capital Management Inc. now owns 2,245,435 shares of the company's stock valued at $292,423,000 after purchasing an additional 656,374 shares in the last quarter. Point72 Asset Management L.P. lifted its position in shares of Chord Energy by 143.8% during the third quarter. Point72 Asset Management L.P. now owns 880,787 shares of the company's stock worth $114,705,000 after purchasing an additional 519,547 shares during the last quarter. Allspring Global Investments Holdings LLC grew its stake in Chord Energy by 30.1% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 744,309 shares of the company's stock worth $88,459,000 after purchasing an additional 172,196 shares in the last quarter. Finally, Captrust Financial Advisors increased its holdings in Chord Energy by 721.9% in the third quarter. Captrust Financial Advisors now owns 145,785 shares of the company's stock valued at $18,986,000 after buying an additional 128,047 shares during the last quarter. 97.76% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CHRD has been the topic of a number of research analyst reports. Piper Sandler reduced their target price on Chord Energy from $194.00 to $193.00 and set an "overweight" rating on the stock in a report on Wednesday, January 15th. Royal Bank of Canada lowered their price objective on shares of Chord Energy from $185.00 to $180.00 and set an "outperform" rating for the company in a research report on Wednesday, November 20th. Truist Financial upped their target price on Chord Energy from $185.00 to $186.00 and gave the company a "buy" rating in a report on Monday, January 13th. Bank of America reissued a "neutral" rating and issued a $138.00 price target (down previously from $208.00) on shares of Chord Energy in a report on Monday, January 13th. Finally, UBS Group lowered their price objective on Chord Energy from $168.00 to $161.00 and set a "buy" rating for the company in a research note on Monday, December 9th. Three research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $173.08.

Chord Energy Price Performance

Chord Energy stock traded down $3.99 during trading hours on Friday, hitting $111.68. 1,500,134 shares of the company traded hands, compared to its average volume of 761,128. Chord Energy Co. has a 1-year low of $107.24 and a 1-year high of $190.23. The firm has a market cap of $6.83 billion, a P/E ratio of 5.75, a P/E/G ratio of 5.77 and a beta of 0.98. The firm's 50-day simple moving average is $116.50 and its two-hundred day simple moving average is $128.18. The company has a quick ratio of 0.89, a current ratio of 0.93 and a debt-to-equity ratio of 0.10.

Chord Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Wednesday, November 27th were issued a dividend of $1.25 per share. The ex-dividend date of this dividend was Wednesday, November 27th. This represents a $5.00 annualized dividend and a yield of 4.48%. Chord Energy's payout ratio is 25.75%.

Insiders Place Their Bets

In other Chord Energy news, CAO Shannon Browning Kinney sold 1,000 shares of the business's stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $116.35, for a total value of $116,350.00. Following the sale, the chief accounting officer now directly owns 19,488 shares in the company, valued at approximately $2,267,428.80. The trade was a 4.88 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.70% of the stock is currently owned by insiders.

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.