State of Alaska Department of Revenue Trims Position in Chord Energy Co. (NASDAQ:CHRD)

State of Alaska Department of Revenue lessened its stake in Chord Energy Co. (NASDAQ:CHRD) by 1.4% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 18,973 shares of the company’s stock after selling 270 shares during the quarter. State of Alaska Department of Revenue’s holdings in Chord Energy were worth $2,218,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Victory Capital Management Inc. increased its stake in Chord Energy by 41.3% in the 3rd quarter. Victory Capital Management Inc. now owns 2,245,435 shares of the company’s stock worth $292,423,000 after buying an additional 656,374 shares during the period. Merit Financial Group LLC purchased a new position in Chord Energy during the 4th quarter valued at about $553,000. Geode Capital Management LLC increased its position in Chord Energy by 3.0% during the 3rd quarter. Geode Capital Management LLC now owns 1,162,442 shares of the company’s stock valued at $151,077,000 after purchasing an additional 34,156 shares during the period. Arkfeld Wealth Strategies L.L.C. increased its position in Chord Energy by 3.5% during the 4th quarter. Arkfeld Wealth Strategies L.L.C. now owns 92,211 shares of the company’s stock valued at $11,596,000 after purchasing an additional 3,151 shares during the period. Finally, Foundry Partners LLC increased its position in Chord Energy by 22.7% during the 3rd quarter. Foundry Partners LLC now owns 52,009 shares of the company’s stock valued at $6,773,000 after purchasing an additional 9,613 shares during the period. Hedge funds and other institutional investors own 97.76% of the company’s stock.

Chord Energy Stock Up 3.5 %

CHRD stock opened at $113.17 on Tuesday. The firm has a 50 day moving average of $117.99 and a 200 day moving average of $131.02. The stock has a market capitalization of $6.92 billion, a PE ratio of 5.83, a price-to-earnings-growth ratio of 5.46 and a beta of 0.98. 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 $107.24 and a 52 week high of $190.23.

Chord Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Wednesday, November 27th were paid a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a yield of 4.42%. The ex-dividend date was Wednesday, November 27th. Chord Energy’s dividend payout ratio (DPR) is presently 25.75%.

Insider Buying and Selling

In other Chord Energy news, CAO Shannon Browning Kinney sold 1,000 shares of Chord Energy stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $116.35, for a total transaction of $116,350.00. Following the completion of the sale, the chief accounting officer now directly owns 19,488 shares in the company, valued at approximately $2,267,428.80. The trade was a 4.88 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 0.70% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. Piper Sandler cut their target price on shares of Chord Energy from $194.00 to $193.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 15th. Truist Financial raised their target price on shares of Chord Energy from $185.00 to $186.00 and gave the company a “buy” rating in a research report on Monday, January 13th. Wells Fargo & Company lowered their price target on shares of Chord Energy from $176.00 to $175.00 and set an “overweight” rating on the stock in a report on Wednesday, January 15th. Mizuho lowered their price target on shares of Chord Energy from $192.00 to $178.00 and set an “outperform” rating on the stock in a report on Monday, December 16th. Finally, Morgan Stanley assumed coverage on shares of Chord Energy in a report on Friday, January 10th. They issued an “equal weight” rating and a $158.00 price target on the stock. Three analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $173.08.

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.