Treasurer of the State of North Carolina Has $6.57 Million Stake in Chord Energy Co. (NASDAQ:CHRD)

Treasurer of the State of North Carolina increased its holdings in shares of Chord Energy Co. (NASDAQ:CHRD - Free Report) by 108.0% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 56,150 shares of the company's stock after purchasing an additional 29,150 shares during the quarter. Treasurer of the State of North Carolina owned 0.09% of Chord Energy worth $6,565,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Brooklyn Investment Group acquired a new position in Chord Energy during the 4th quarter worth approximately $29,000. Twin Tree Management LP purchased a new stake in shares of Chord Energy during the fourth quarter valued at approximately $33,000. Larson Financial Group LLC lifted its position in shares of Chord Energy by 238.3% during the fourth quarter. Larson Financial Group LLC now owns 318 shares of the company's stock worth $37,000 after purchasing an additional 224 shares in the last quarter. R Squared Ltd purchased a new position in shares of Chord Energy in the fourth quarter valued at $51,000. Finally, Venturi Wealth Management LLC grew its holdings in Chord Energy by 1,751.9% during the 4th quarter. Venturi Wealth Management LLC now owns 500 shares of the company's stock valued at $58,000 after purchasing an additional 473 shares in the last quarter. 97.76% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on CHRD shares. Bank of America cut their price objective on shares of Chord Energy from $138.00 to $125.00 and set a "neutral" rating on the stock in a report on Tuesday, April 1st. Truist Financial increased their price target on Chord Energy from $185.00 to $186.00 and gave the company a "buy" rating in a report on Monday, January 13th. Williams Trading set a $155.00 price objective on Chord Energy in a report on Wednesday, March 5th. Piper Sandler reduced their target price on Chord Energy from $193.00 to $184.00 and set an "overweight" rating for the company in a research note on Thursday, March 6th. Finally, Citigroup decreased their price target on shares of Chord Energy from $135.00 to $120.00 and set a "buy" rating for the company in a research report on Monday, April 7th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Chord Energy has an average rating of "Moderate Buy" and a consensus target price of $157.00.

Chord Energy Price Performance

CHRD stock traded up $3.59 during trading on Friday, hitting $94.43. 767,619 shares of the stock traded hands, compared to its average volume of 972,099. The stock has a market cap of $5.62 billion, a price-to-earnings ratio of 4.86, a P/E/G ratio of 5.83 and a beta of 0.96. Chord Energy Co. has a one year low of $79.83 and a one year high of $188.02. The company has a current ratio of 0.93, a quick ratio of 0.89 and a debt-to-equity ratio of 0.10. The company has a 50 day simple moving average of $104.12 and a 200 day simple moving average of $116.67.

Chord Energy Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 26th. Stockholders of record on Tuesday, March 11th were paid a $1.30 dividend. The ex-dividend date was Tuesday, March 11th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 5.51%. This is a boost from Chord Energy's previous quarterly dividend of $1.25. Chord Energy's 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.