Wellington Management Group LLP Reduces Position in Chord Energy Co. (NASDAQ:CHRD)

Wellington Management Group LLP lowered its stake in shares of Chord Energy Co. (NASDAQ:CHRD - Free Report) by 19.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,310,210 shares of the company's stock after selling 324,989 shares during the period. Wellington Management Group LLP owned 2.20% of Chord Energy worth $153,190,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the stock. Pacer Advisors Inc. raised its stake in shares of Chord Energy by 50.4% during the 4th quarter. Pacer Advisors Inc. now owns 1,872,156 shares of the company's stock valued at $218,892,000 after purchasing an additional 627,122 shares during the period. Victory Capital Management Inc. increased its position in shares of Chord Energy by 27.6% during the fourth quarter. Victory Capital Management Inc. now owns 2,864,456 shares of the company's stock valued at $334,912,000 after buying an additional 619,021 shares during the period. Point72 Asset Management L.P. lifted its holdings in shares of Chord Energy by 143.8% in the third quarter. Point72 Asset Management L.P. now owns 880,787 shares of the company's stock worth $114,705,000 after buying an additional 519,547 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of Chord Energy in the fourth quarter valued at approximately $29,984,000. Finally, Allspring Global Investments Holdings LLC grew its stake in Chord Energy by 30.1% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 744,309 shares of the company's stock valued at $88,459,000 after acquiring an additional 172,196 shares in the last quarter. Hedge funds and other institutional investors own 97.76% of the company's stock.

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Chord Energy Trading Down 2.0 %

Shares of Chord Energy stock traded down $1.80 during trading on Monday, reaching $86.02. The company's stock had a trading volume of 1,729,993 shares, compared to its average volume of 953,771. 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 Co. has a 52-week low of $82.03 and a 52-week high of $190.23. The firm's 50-day moving average is $109.21 and its two-hundred day moving average is $119.76. The company has a market cap of $5.12 billion, a price-to-earnings ratio of 4.43, a PEG ratio of 5.83 and a beta of 0.96.

Chord Energy Increases Dividend

The firm also recently declared 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. This represents a $5.20 annualized dividend and a yield of 6.05%. This is a positive change from Chord Energy's previous quarterly dividend of $1.25. The ex-dividend date of this dividend was Tuesday, March 11th. Chord Energy's dividend payout ratio is presently 32.62%.

Analysts Set New Price Targets

Several analysts have issued reports on CHRD shares. Wolfe Research upgraded shares of Chord Energy from a "peer perform" rating to an "outperform" rating and set a $155.00 target price on the stock in a research note on Friday, January 3rd. Mizuho dropped their price objective on Chord Energy from $192.00 to $178.00 and set an "outperform" rating for the company in a research note on Monday, December 16th. UBS Group decreased their target price on Chord Energy from $168.00 to $161.00 and set a "buy" rating on the stock in a research note on Monday, December 9th. Citigroup dropped their price target on Chord Energy from $135.00 to $120.00 and set a "buy" rating for the company in a research report on Monday. Finally, Wells Fargo & Company decreased their price objective on shares of Chord Energy from $175.00 to $166.00 and set an "overweight" rating on the stock in a research report on Monday, March 24th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $160.31.

Chord Energy 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.