Royce & Associates LP Sells 437 Shares of Chord Energy Co. (NASDAQ:CHRD)

Royce & Associates LP cut its stake in Chord Energy Co. (NASDAQ:CHRD) by 0.8% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 57,225 shares of the company’s stock after selling 437 shares during the quarter. Royce & Associates LP’s holdings in Chord Energy were worth $6,691,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the stock. Delta Capital Management LLC raised its stake in Chord Energy by 4.3% in the fourth quarter. Delta Capital Management LLC now owns 2,200 shares of the company’s stock worth $257,000 after buying an additional 90 shares in the last quarter. Commerce Bank grew its holdings in shares of Chord Energy by 4.3% during the 3rd quarter. Commerce Bank now owns 2,361 shares of the company’s stock worth $307,000 after acquiring an additional 98 shares during the period. Gables Capital Management Inc. raised its position in shares of Chord Energy by 6.9% in the 4th quarter. Gables Capital Management Inc. now owns 1,550 shares of the company’s stock worth $181,000 after acquiring an additional 100 shares in the last quarter. Envestnet Portfolio Solutions Inc. lifted its stake in shares of Chord Energy by 2.9% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 3,710 shares of the company’s stock valued at $434,000 after purchasing an additional 106 shares during the period. Finally, Exchange Traded Concepts LLC boosted its position in shares of Chord Energy by 1.8% during the fourth quarter. Exchange Traded Concepts LLC now owns 6,145 shares of the company’s stock valued at $718,000 after purchasing an additional 110 shares in the last quarter. 97.76% of the stock is currently owned by institutional investors.

Chord Energy Stock Up 1.0 %

CHRD stock opened at $108.72 on Wednesday. The stock has a market capitalization of $6.48 billion, a P/E ratio of 5.60, a P/E/G ratio of 5.83 and a beta of 0.98. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.93 and a quick ratio of 0.89. Chord Energy Co. has a 1-year low of $99.40 and a 1-year high of $190.23. The business has a fifty day moving average price of $113.67 and a 200-day moving average price of $122.59.

Chord Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 26th. Shareholders of record on Tuesday, March 11th will be given 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 is Tuesday, March 11th. This represents a $5.20 dividend on an annualized basis and a yield of 4.78%. Chord Energy’s payout ratio is 32.62%.

Analysts Set New Price Targets

Several brokerages have commented on CHRD. Citigroup lowered Chord Energy to a “reduce” rating in a research report on Wednesday, March 5th. Wolfe Research raised shares of Chord Energy from a “peer perform” rating to an “outperform” rating and set a $155.00 price target for the company in a research report on Friday, January 3rd. UBS Group cut 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. Morgan Stanley began coverage on shares of Chord Energy in a report on Friday, January 10th. They set an “equal weight” rating and a $158.00 target price for the company. Finally, Royal Bank of Canada cut their price target on Chord Energy from $185.00 to $180.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 20th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Chord Energy has a consensus rating of “Moderate Buy” and a consensus target price of $164.62.

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.