Chord Energy Co. (NASDAQ:CHRD) Shares Purchased by Portfolio Design Labs LLC

Portfolio Design Labs LLC lifted its holdings in Chord Energy Co. (NASDAQ:CHRD) by 32.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 29,175 shares of the company’s stock after acquiring an additional 7,165 shares during the quarter. Portfolio Design Labs LLC’s holdings in Chord Energy were worth $3,411,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. FMR LLC grew its position in Chord Energy by 2.2% during the third quarter. FMR LLC now owns 3,420,012 shares of the company’s stock valued at $445,388,000 after buying an additional 74,165 shares during the period. State Street Corp grew its position in Chord Energy by 0.9% during the third quarter. State Street Corp now owns 2,485,777 shares of the company’s stock valued at $323,723,000 after buying an additional 22,753 shares during the period. Victory Capital Management Inc. grew its position in Chord Energy by 41.3% during the third quarter. Victory Capital Management Inc. now owns 2,245,435 shares of the company’s stock valued at $292,423,000 after buying an additional 656,374 shares during the period. Pacer Advisors Inc. grew its position in Chord Energy by 50.4% during the fourth quarter. Pacer Advisors Inc. now owns 1,872,156 shares of the company’s stock valued at $218,892,000 after buying an additional 627,122 shares during the period. Finally, Geode Capital Management LLC grew its position in Chord Energy by 3.0% during the third quarter. Geode Capital Management LLC now owns 1,162,442 shares of the company’s stock valued at $151,077,000 after buying an additional 34,156 shares during the period. Institutional investors and hedge funds own 97.76% of the company’s stock.

Chord Energy Stock Performance

NASDAQ:CHRD opened at $114.41 on Wednesday. The company’s 50-day moving average price is $117.73 and its 200-day moving average price is $130.61. The company has a current ratio of 0.93, a quick ratio of 0.89 and a debt-to-equity ratio of 0.10. The company has a market cap of $6.99 billion, a P/E ratio of 5.89, a P/E/G ratio of 5.46 and a beta of 0.98. Chord Energy Co. has a twelve month low of $107.24 and a twelve month high of $190.23.

Chord Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Wednesday, November 27th were paid a $1.25 dividend. This represents a $5.00 annualized dividend and a dividend yield of 4.37%. The ex-dividend date of this dividend was Wednesday, November 27th. Chord Energy’s dividend payout ratio is currently 25.75%.

Insider Transactions at Chord Energy

In other Chord Energy news, CAO Shannon Browning Kinney sold 1,000 shares of Chord Energy stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $116.35, for a total transaction of $116,350.00. Following the transaction, the chief accounting officer now directly owns 19,488 shares of the company’s stock, valued at $2,267,428.80. The trade was a 4.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.70% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently commented on CHRD. Wells Fargo & Company dropped their price target on shares of Chord Energy from $176.00 to $175.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 15th. UBS Group decreased their price objective on shares of Chord Energy from $168.00 to $161.00 and set a “buy” rating on the stock in a report on Monday, December 9th. Bank of America reaffirmed a “neutral” rating and set a $138.00 price objective (down from $208.00) on shares of Chord Energy in a report on Monday, January 13th. Siebert Williams Shank raised shares of Chord Energy to a “strong-buy” rating in a report on Tuesday, October 15th. Finally, Piper Sandler decreased their price objective on shares of Chord Energy from $194.00 to $193.00 and set an “overweight” rating on the stock in a report on Wednesday, January 15th. 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 stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $173.08.

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.