Chord Energy Co. (NASDAQ:CHRD) Shares Acquired by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC grew its stake in Chord Energy Co. (NASDAQ:CHRD) by 30.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 744,309 shares of the company’s stock after purchasing an additional 172,196 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Chord Energy were worth $88,459,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Avidian Wealth Enterprises LLC purchased a new stake in Chord Energy in the 4th quarter valued at $602,000. Portfolio Design Labs LLC grew its holdings in shares of Chord Energy by 32.6% in the fourth quarter. Portfolio Design Labs LLC now owns 29,175 shares of the company’s stock valued at $3,411,000 after purchasing an additional 7,165 shares during the period. Entropy Technologies LP acquired a new stake in Chord Energy during the fourth quarter worth about $208,000. Kingsview Wealth Management LLC raised its stake in Chord Energy by 55.3% during the fourth quarter. Kingsview Wealth Management LLC now owns 21,744 shares of the company’s stock worth $2,542,000 after purchasing an additional 7,743 shares during the period. Finally, Tectonic Advisors LLC boosted its holdings in Chord Energy by 2.1% in the 4th quarter. Tectonic Advisors LLC now owns 8,443 shares of the company’s stock valued at $987,000 after purchasing an additional 176 shares during the last quarter. Hedge funds and other institutional investors own 97.76% of the company’s stock.

Chord Energy Stock Down 4.1 %

Shares of CHRD opened at $109.67 on Thursday. The company’s 50-day simple moving average is $117.47 and its 200-day simple moving average is $130.46. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.89 and a current ratio of 0.93. Chord Energy Co. has a 1 year low of $107.24 and a 1 year high of $190.23. The stock has a market capitalization of $6.70 billion, a PE ratio of 5.65, a P/E/G ratio of 5.46 and a beta of 0.98.

Chord Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Wednesday, November 27th were given a $1.25 dividend. The ex-dividend date of this dividend was Wednesday, November 27th. This represents a $5.00 annualized dividend and a yield of 4.56%. Chord Energy’s dividend payout ratio is presently 25.75%.

Insiders Place Their Bets

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

Analysts Set New Price Targets

CHRD has been the subject of a number of recent analyst reports. Mizuho cut their price target on shares of Chord Energy from $192.00 to $178.00 and set an “outperform” rating for the company in a report on Monday, December 16th. UBS Group cut their target price on Chord Energy from $168.00 to $161.00 and set a “buy” rating for the company in a research note on Monday, December 9th. Morgan Stanley started coverage on Chord Energy in a research note on Friday, January 10th. They issued an “equal weight” rating and a $158.00 price target on the stock. Truist Financial raised their price objective on Chord Energy from $185.00 to $186.00 and gave the stock a “buy” rating in a research report on Monday, January 13th. Finally, Wolfe Research raised shares of Chord Energy from a “peer perform” rating to an “outperform” rating and set a $155.00 target price on the stock in a research report on Friday, January 3rd. Three equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $173.08.

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.