Treasurer of the State of North Carolina Grows Position in Chord Energy Co. (NASDAQ:CHRD)

Treasurer of the State of North Carolina raised its position in Chord Energy Co. (NASDAQ:CHRD) by 108.0% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 56,150 shares of the company’s stock after purchasing an additional 29,150 shares during the period. Treasurer of the State of North Carolina’s holdings in Chord Energy were worth $6,565,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Natixis Advisors LLC purchased a new stake in Chord Energy during the 4th quarter valued at approximately $1,191,000. Merit Financial Group LLC purchased a new stake in shares of Chord Energy during the fourth quarter worth approximately $553,000. Geode Capital Management LLC lifted its holdings in shares of Chord Energy by 3.0% during the third quarter. Geode Capital Management LLC now owns 1,162,442 shares of the company’s stock worth $151,077,000 after purchasing an additional 34,156 shares during the period. JPMorgan Chase & Co. lifted its holdings in shares of Chord Energy by 3.3% during the fourth quarter. JPMorgan Chase & Co. now owns 263,288 shares of the company’s stock worth $30,784,000 after purchasing an additional 8,455 shares during the period. Finally, Kingsview Wealth Management LLC grew its position in Chord Energy by 55.3% in the 4th quarter. Kingsview Wealth Management LLC now owns 21,744 shares of the company’s stock valued at $2,542,000 after buying an additional 7,743 shares during the last quarter. 97.76% of the stock is owned by institutional investors and hedge funds.

Chord Energy Stock Down 0.9 %

CHRD stock opened at $88.52 on Tuesday. 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 company’s 50 day simple moving average is $105.66 and its 200-day simple moving average is $117.65. Chord Energy Co. has a 12 month low of $79.83 and a 12 month high of $188.41. The firm has a market capitalization of $5.27 billion, a PE ratio of 4.56, a P/E/G ratio of 5.83 and a beta of 0.96.

Chord Energy Increases Dividend

The business 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 is an increase from Chord Energy’s previous quarterly dividend of $1.25. The ex-dividend date was Tuesday, March 11th. This represents a $5.20 annualized dividend and a yield of 5.87%. Chord Energy’s dividend payout ratio (DPR) is presently 32.62%.

Analyst Ratings Changes

Several analysts have recently commented 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 for the company in a research note on Friday, January 3rd. Bank of America reduced their price objective on shares of Chord Energy from $138.00 to $125.00 and set a “neutral” rating for the company in a research report on Tuesday, April 1st. Royal Bank of Canada dropped their target price on Chord Energy from $165.00 to $145.00 and set an “outperform” rating on the stock in a research report on Friday. Truist Financial increased their target price on Chord Energy from $185.00 to $186.00 and gave the stock a “buy” rating in a research note on Monday, January 13th. Finally, Morgan Stanley set a $139.00 price target on Chord Energy and gave the company a “cautious” rating in a research note on Wednesday, March 26th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $157.62.

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.