Chord Energy Co. (NASDAQ:CHRD) Shares Sold by Vanguard Group Inc.

Vanguard Group Inc. cut its stake in shares of Chord Energy Co. (NASDAQ:CHRD) by 0.9% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. 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 0.10% of Chord Energy worth $747,758,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the stock. Pacer Advisors Inc. boosted its holdings in Chord Energy by 50.4% during the fourth quarter. Pacer Advisors Inc. now owns 1,872,156 shares of the company’s stock worth $218,892,000 after buying an additional 627,122 shares in the last quarter. Victory Capital Management Inc. boosted its stake in shares of Chord Energy by 27.6% during the 4th quarter. Victory Capital Management Inc. now owns 2,864,456 shares of the company’s stock worth $334,912,000 after acquiring an additional 619,021 shares in the last quarter. Point72 Asset Management L.P. grew its holdings in shares of Chord Energy by 143.8% in the 3rd quarter. Point72 Asset Management L.P. now owns 880,787 shares of the company’s stock worth $114,705,000 after acquiring an additional 519,547 shares during the period. Raymond James Financial Inc. purchased a new position in Chord Energy in the 4th quarter valued at approximately $29,984,000. Finally, Allspring Global Investments Holdings LLC raised its holdings 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 worth $88,459,000 after purchasing an additional 172,196 shares during the last quarter. Hedge funds and other institutional investors own 97.76% of the company’s stock.

Chord Energy Price Performance

Shares of NASDAQ:CHRD opened at $111.73 on Friday. The company has a market cap of $6.65 billion, a P/E ratio of 5.75, a P/E/G ratio of 5.83 and a beta of 0.98. The business has a fifty day simple moving average of $111.53 and a 200-day simple moving average of $121.24. Chord Energy Co. has a 52 week low of $99.40 and a 52 week high of $190.23. 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 Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 26th. Stockholders of record on Tuesday, March 11th were paid a dividend of $1.30 per share. The ex-dividend date was Tuesday, March 11th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.65%. This is an increase from Chord Energy’s previous quarterly dividend of $1.25. Chord Energy’s dividend payout ratio is currently 32.62%.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. Mizuho lowered their target price on Chord Energy from $192.00 to $178.00 and set an “outperform” rating on the stock in a report on Monday, December 16th. Bank of America reissued a “neutral” rating and issued a $138.00 price objective (down from $208.00) on shares of Chord Energy in a research note on Monday, January 13th. Morgan Stanley set a $139.00 target price on shares of Chord Energy and gave the stock a “cautious” rating in a research report on Wednesday. Citigroup lowered shares of Chord Energy to a “reduce” rating in a research report on Wednesday, March 5th. Finally, Wells Fargo & Company reduced their target price on Chord Energy from $175.00 to $166.00 and set an “overweight” rating on the stock in a research note on Monday, March 24th. Two research analysts have rated the stock with a sell rating, two have given a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $162.46.

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.