Vanguard Group Inc. Sells 56,985 Shares of Chord Energy Co. (NASDAQ:CHRD)

Vanguard Group Inc. trimmed its holdings in Chord Energy Co. (NASDAQ:CHRD - Free Report) by 0.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,395,464 shares of the company's stock after selling 56,985 shares during the quarter. Vanguard Group Inc. owned about 10.46% of Chord Energy worth $747,758,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in CHRD. Brooklyn Investment Group bought a new position in shares of Chord Energy during the 4th quarter worth approximately $29,000. Twin Tree Management LP acquired a new position in shares of Chord Energy during the 4th quarter valued at $33,000. Larson Financial Group LLC boosted its stake in 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 acquiring an additional 224 shares in the last quarter. R Squared Ltd acquired a new stake in Chord Energy in the fourth quarter worth $51,000. Finally, Venturi Wealth Management LLC increased its stake in Chord Energy by 1,751.9% in the fourth 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. Institutional investors own 97.76% of the company's stock.

Chord Energy Stock Performance

Chord Energy stock traded down $14.06 during mid-day trading on Thursday, reaching $99.48. 1,444,411 shares of the company's stock were exchanged, compared to its average volume of 942,660. The firm has a market capitalization of $5.92 billion, a PE ratio of 5.12, a P/E/G ratio of 5.83 and a beta of 0.98. The company has a quick ratio of 0.89, a current ratio of 0.93 and a debt-to-equity ratio of 0.10. The business's fifty day simple moving average is $110.43 and its 200 day simple moving average is $120.66. Chord Energy Co. has a one year low of $98.71 and a one year high of $190.23.

Remove Ads

Chord Energy Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 26th. Investors of record on Tuesday, March 11th were issued a $1.30 dividend. This is an increase from Chord Energy's previous quarterly dividend of $1.25. This represents a $5.20 dividend on an annualized basis and a dividend yield of 5.23%. The ex-dividend date of this dividend was Tuesday, March 11th. Chord Energy's payout ratio is 32.62%.

Analyst Upgrades and Downgrades

CHRD has been the topic of a number of research analyst reports. 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 research report on Tuesday. Morgan Stanley set a $139.00 price objective on Chord Energy and gave the company a "cautious" rating in a research note on Wednesday, March 26th. Mizuho lowered their target price on Chord Energy from $192.00 to $178.00 and set an "outperform" rating on the stock in a research report on Monday, December 16th. UBS Group reduced their price target on shares of Chord Energy from $168.00 to $161.00 and set a "buy" rating for the company in a research report on Monday, December 9th. Finally, Citigroup downgraded shares of Chord Energy to a "reduce" rating in a report on Wednesday, March 5th. Two analysts have rated the stock with a sell rating, two have issued a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Chord Energy presently has a consensus rating of "Moderate Buy" and an average price target of $161.46.

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.