Teacher Retirement System of Texas acquired a new stake in Chord Energy Co. (NASDAQ:CHRD - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 25,430 shares of the company's stock, valued at approximately $2,973,000.
Other hedge funds have also recently made changes to their positions in the company. Pacer Advisors Inc. lifted its position in 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 in the last quarter. Victory Capital Management Inc. lifted its holdings in shares of 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 in the last quarter. Point72 Asset Management L.P. boosted 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 valued at $114,705,000 after buying an additional 519,547 shares during the last quarter. Raymond James Financial Inc. bought a new stake in Chord Energy during the fourth quarter worth $29,984,000. Finally, Allspring Global Investments Holdings LLC raised its position in Chord Energy by 30.1% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 744,309 shares of the company's stock valued at $88,459,000 after buying an additional 172,196 shares during the last quarter. 97.76% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
CHRD has been the topic of a number of analyst reports. Mizuho cut their price objective on shares of Chord Energy from $192.00 to $178.00 and set an "outperform" rating on the stock in a report on Monday, December 16th. Wolfe Research raised 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. UBS Group decreased their price objective on shares of Chord Energy from $168.00 to $161.00 and set a "buy" rating for the company in a research note on Monday, December 9th. Wells Fargo & Company reduced their target price on Chord Energy from $175.00 to $166.00 and set an "overweight" rating for the company in a report on Monday, March 24th. Finally, Morgan Stanley set a $139.00 price target on Chord Energy and gave the stock a "cautious" rating in a report on Wednesday. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $162.46.
Read Our Latest Research Report on CHRD
Chord Energy Stock Performance
Shares of NASDAQ CHRD traded down $0.41 during midday trading on Friday, hitting $111.73. The company's stock had a trading volume of 511,727 shares, compared to its average volume of 943,021. The stock has a fifty day moving average price of $111.53 and a 200 day moving average price of $121.24. The firm has a market capitalization of $6.65 billion, a price-to-earnings ratio of 5.75, a P/E/G ratio of 5.83 and a beta of 0.98. Chord Energy Co. has a one year low of $99.40 and a one year high of $190.23. The company has a current ratio of 0.93, a quick ratio of 0.89 and a debt-to-equity ratio of 0.10.
Chord Energy Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Wednesday, March 26th. Shareholders of record on Tuesday, March 11th were given a dividend of $1.30 per share. The ex-dividend date of this dividend was Tuesday, March 11th. This represents a $5.20 annualized dividend and a dividend yield of 4.65%. This is an increase from Chord Energy's previous quarterly dividend of $1.25. Chord Energy's dividend payout ratio is currently 32.62%.
About Chord Energy
(
Free Report)
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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