Wealthfront Advisers LLC Takes $731,000 Position in Chord Energy Co. (NASDAQ:CHRD)

Wealthfront Advisers LLC purchased a new stake in Chord Energy Co. (NASDAQ:CHRD - Free Report) during the fourth quarter, according to its most recent 13F filing with the SEC. The firm purchased 6,253 shares of the company's stock, valued at approximately $731,000.

A number of other institutional investors have also modified their holdings of CHRD. Stone House Investment Management LLC bought a new stake in shares of Chord Energy in the 3rd quarter valued at about $26,000. Brooklyn Investment Group bought a new stake in shares of Chord Energy in the 4th quarter valued at about $29,000. Larson Financial Group LLC boosted its holdings in shares of Chord Energy by 238.3% in the 4th quarter. Larson Financial Group LLC now owns 318 shares of the company's stock valued at $37,000 after buying an additional 224 shares in the last quarter. R Squared Ltd bought a new stake in shares of Chord Energy in the 4th quarter valued at about $51,000. Finally, Venturi Wealth Management LLC boosted its holdings in shares of Chord Energy by 1,751.9% in the 4th quarter. Venturi Wealth Management LLC now owns 500 shares of the company's stock valued at $58,000 after buying an additional 473 shares in the last quarter. 97.76% of the stock is currently owned by institutional investors.

Chord Energy Stock Performance

CHRD traded up $2.41 during trading on Wednesday, reaching $111.13. 885,894 shares of the company's stock were exchanged, compared to its average volume of 909,092. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.93 and a quick ratio of 0.89. The stock has a market capitalization of $6.63 billion, a P/E ratio of 5.72, a price-to-earnings-growth ratio of 5.83 and a beta of 0.98. The company's fifty day simple moving average is $113.67 and its 200-day simple moving average is $122.59. Chord Energy Co. has a 1 year low of $99.40 and a 1 year high of $190.23.

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Chord Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 26th. Stockholders of record on Tuesday, March 11th will be issued a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a dividend yield of 4.68%. This is a positive change from Chord Energy's previous quarterly dividend of $1.25. The ex-dividend date is Tuesday, March 11th. Chord Energy's payout ratio is 32.62%.

Analyst Ratings Changes

A number of analysts recently commented on CHRD shares. Mizuho lowered their target price on shares of Chord Energy from $192.00 to $178.00 and set an "outperform" rating for the company in a research note on Monday, December 16th. Bank of America reiterated a "neutral" rating and issued a $138.00 target price (down from $208.00) on shares of Chord Energy in a research note on Monday, January 13th. Royal Bank of Canada lowered their target price on shares of Chord Energy from $185.00 to $180.00 and set an "outperform" rating for the company in a research note on Wednesday, November 20th. Morgan Stanley started coverage on shares of Chord Energy in a research note on Friday, January 10th. They issued an "equal weight" rating and a $158.00 target price for the company. Finally, Citigroup cut shares of Chord Energy to a "reduce" rating in a research note on Wednesday, March 5th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Chord Energy has a consensus rating of "Moderate Buy" and an average target price of $164.62.

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.