Chord Energy Co. (NASDAQ:CHRD) Stock Position Lifted by South Dakota Investment Council

South Dakota Investment Council increased its position in Chord Energy Co. (NASDAQ:CHRD) by 26.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 115,302 shares of the company’s stock after buying an additional 23,952 shares during the quarter. South Dakota Investment Council’s holdings in Chord Energy were worth $13,481,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of CHRD. Stone House Investment Management LLC acquired a new stake in shares of Chord Energy in the third quarter valued at $26,000. Brooklyn Investment Group acquired a new stake in shares of Chord Energy in the fourth quarter valued at $29,000. Fortitude Family Office LLC acquired a new stake in shares of Chord Energy in the third quarter valued at $47,000. R Squared Ltd acquired a new stake in shares of Chord Energy in the fourth quarter valued at $51,000. Finally, Venturi Wealth Management LLC lifted its holdings in shares of Chord Energy by 1,751.9% during 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 during the last quarter. Institutional investors and hedge funds own 97.76% of the company’s stock.

Chord Energy Stock Performance

Shares of CHRD stock opened at $111.68 on Friday. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.93 and a quick ratio of 0.89. Chord Energy Co. has a fifty-two week low of $107.24 and a fifty-two week high of $190.23. The stock’s 50-day moving average is $116.50 and its two-hundred day moving average is $128.01. The firm has a market cap of $6.83 billion, a P/E ratio of 5.75, a PEG ratio of 5.83 and a beta of 0.98.

Chord Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Wednesday, November 27th were given a $1.25 dividend. This represents a $5.00 annualized dividend and a yield of 4.48%. The ex-dividend date of this dividend was Wednesday, November 27th. Chord Energy’s payout ratio is currently 25.75%.

Wall Street Analyst Weigh In

CHRD has been the subject of several analyst reports. UBS Group reduced their target price on Chord Energy from $168.00 to $161.00 and set a “buy” rating for the company in a report on Monday, December 9th. Wolfe Research raised Chord Energy from a “peer perform” rating to an “outperform” rating and set a $155.00 target price for the company in a report on Friday, January 3rd. Wells Fargo & Company reduced their target price on Chord Energy from $176.00 to $175.00 and set an “overweight” rating for the company in a report on Wednesday, January 15th. Bank of America reaffirmed a “neutral” rating and set a $138.00 target price (down from $208.00) on shares of Chord Energy in a report on Monday, January 13th. Finally, Morgan Stanley started coverage on Chord Energy in a report on Friday, January 10th. They set an “equal weight” rating and a $158.00 target price for the company. Three investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Chord Energy currently has an average rating of “Moderate Buy” and an average target price of $173.08.

Insiders Place Their Bets

In other news, CAO Shannon Browning Kinney sold 1,000 shares of the stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $116.35, for a total transaction of $116,350.00. Following the transaction, the chief accounting officer now owns 19,488 shares of the company’s stock, valued at approximately $2,267,428.80. This represents a 4.88 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.70% of the company’s stock.

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.