Cynosure Group LLC Boosts Holdings in Chord Energy Co. (NASDAQ:CHRD)

Cynosure Group LLC boosted its holdings in Chord Energy Co. (NASDAQ:CHRD) by 2.3% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 8,149 shares of the company’s stock after acquiring an additional 181 shares during the period. Cynosure Group LLC’s holdings in Chord Energy were worth $953,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the business. Pacer Advisors Inc. lifted its stake in shares of Chord Energy by 50.4% in 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 last quarter. Victory Capital Management Inc. raised its holdings in Chord Energy by 27.6% in the 4th 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 position in Chord Energy by 143.8% in the third quarter. Point72 Asset Management L.P. now owns 880,787 shares of the company’s stock valued at $114,705,000 after buying an additional 519,547 shares during the last quarter. Raymond James Financial Inc. purchased a new position in Chord Energy during the fourth quarter worth about $29,984,000. Finally, Allspring Global Investments Holdings LLC increased its position in shares of 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 during the last quarter. 97.76% of the stock is currently owned by hedge funds and other institutional investors.

Chord Energy Stock Down 0.1 %

Chord Energy stock opened at $112.63 on Wednesday. The stock has a market cap of $6.70 billion, a PE ratio of 5.80, a P/E/G ratio of 5.83 and a beta of 0.98. 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’s fifty day moving average is $111.25 and its two-hundred day moving average is $121.02. Chord Energy Co. has a 1-year low of $99.40 and a 1-year high of $190.23.

Chord Energy Increases Dividend

The firm 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 represents a $5.20 dividend on an annualized basis and a yield of 4.62%. This is an increase 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 32.62%.

Wall Street Analyst Weigh In

CHRD has been the subject of a number of research analyst reports. Truist Financial increased their price objective on shares of Chord Energy from $185.00 to $186.00 and gave the stock a “buy” rating in a research report on Monday, January 13th. Wolfe Research raised Chord Energy from a “peer perform” rating to an “outperform” rating and set a $155.00 price objective for the company in a research note on Friday, January 3rd. Piper Sandler decreased their target price on Chord Energy from $193.00 to $184.00 and set an “overweight” rating on the stock in a research note on Thursday, March 6th. Citigroup lowered shares of Chord Energy to a “reduce” rating in a research note on Wednesday, March 5th. Finally, UBS Group dropped their price objective on shares of Chord Energy from $168.00 to $161.00 and set a “buy” rating for the company in a report on Monday, December 9th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price 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.