Trexquant Investment LP Lowers Holdings in Chord Energy Co. (NASDAQ:CHRD)

Trexquant Investment LP trimmed its holdings in Chord Energy Co. (NASDAQ:CHRD) by 19.4% in the 4th quarter, HoldingsChannel reports. The firm owned 52,416 shares of the company’s stock after selling 12,587 shares during the quarter. Trexquant Investment LP’s holdings in Chord Energy were worth $6,128,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Townsquare Capital LLC boosted its position in shares of Chord Energy by 55.7% during the third quarter. Townsquare Capital LLC now owns 2,199 shares of the company’s stock worth $286,000 after acquiring an additional 787 shares during the last quarter. Benjamin Edwards Inc. boosted its holdings in shares of Chord Energy by 61.3% during the 3rd quarter. Benjamin Edwards Inc. now owns 3,117 shares of the company’s stock valued at $407,000 after purchasing an additional 1,184 shares during the last quarter. HighTower Advisors LLC grew its position in shares of Chord Energy by 58.7% during the third quarter. HighTower Advisors LLC now owns 6,821 shares of the company’s stock valued at $899,000 after purchasing an additional 2,522 shares in the last quarter. Investment Management Corp of Ontario increased its holdings in shares of Chord Energy by 42.9% in the third quarter. Investment Management Corp of Ontario now owns 2,000 shares of the company’s stock worth $260,000 after purchasing an additional 600 shares during the last quarter. Finally, Quarry LP lifted its position in shares of Chord Energy by 437.5% in the third quarter. Quarry LP now owns 946 shares of the company’s stock worth $123,000 after buying an additional 770 shares in the last quarter. Institutional investors own 97.76% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Morgan Stanley set a $139.00 price target on Chord Energy and gave the company a “cautious” rating in a report on Wednesday, March 26th. Bank of America cut their target price on shares of Chord Energy from $138.00 to $125.00 and set a “neutral” rating for the company in a report on Tuesday. Wells Fargo & Company decreased their price target on shares of Chord Energy from $175.00 to $166.00 and set an “overweight” rating on the stock in a research note on Monday, March 24th. Citigroup cut shares of Chord Energy to a “reduce” rating in a research note on Wednesday, March 5th. Finally, Truist Financial upped 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. 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’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $161.46.

Chord Energy Trading Down 11.7 %

CHRD opened at $87.82 on Friday. Chord Energy Co. has a one year low of $86.70 and a one year high of $190.23. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.89 and a current ratio of 0.93. The stock has a market cap of $5.22 billion, a price-to-earnings ratio of 4.52, a P/E/G ratio of 5.83 and a beta of 0.98. The stock’s 50 day moving average price is $109.83 and its 200-day moving average price is $120.34.

Chord Energy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 26th. Shareholders of record on Tuesday, March 11th were paid a $1.30 dividend. This is a positive change from Chord Energy’s previous quarterly dividend of $1.25. The ex-dividend date of this dividend was Tuesday, March 11th. This represents a $5.20 dividend on an annualized basis and a yield of 5.92%. Chord Energy’s dividend payout ratio (DPR) is presently 32.62%.

Chord Energy Company 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.