Blue Trust Inc. Cuts Stake in Chord Energy Co. (NASDAQ:CHRD)

Blue Trust Inc. decreased its holdings in Chord Energy Co. (NASDAQ:CHRD) by 65.4% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,109 shares of the company’s stock after selling 2,097 shares during the period. Blue Trust Inc.’s holdings in Chord Energy were worth $130,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in CHRD. Victory Capital Management Inc. boosted its holdings in Chord Energy by 41.3% during the 3rd quarter. Victory Capital Management Inc. now owns 2,245,435 shares of the company’s stock valued at $292,423,000 after acquiring an additional 656,374 shares during the period. Merit Financial Group LLC purchased a new stake in shares of Chord Energy during the fourth quarter worth about $553,000. Geode Capital Management LLC lifted its holdings in Chord Energy by 3.0% in the 3rd quarter. Geode Capital Management LLC now owns 1,162,442 shares of the company’s stock worth $151,077,000 after buying an additional 34,156 shares during the period. Kingsview Wealth Management LLC lifted its holdings in Chord Energy by 55.3% in the 4th quarter. Kingsview Wealth Management LLC now owns 21,744 shares of the company’s stock worth $2,542,000 after buying an additional 7,743 shares during the period. Finally, Arkfeld Wealth Strategies L.L.C. lifted its holdings in Chord Energy by 3.5% in the 4th quarter. Arkfeld Wealth Strategies L.L.C. now owns 92,211 shares of the company’s stock worth $11,596,000 after buying an additional 3,151 shares during the period. Hedge funds and other institutional investors own 97.76% of the company’s stock.

Insider Buying and Selling

In other news, CAO Shannon Browning Kinney sold 1,000 shares of the firm’s 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 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 sale was disclosed in a legal filing with the SEC, which is available through this link. 0.70% of the stock is owned by company insiders.

Chord Energy Stock Down 3.5 %

Shares of Chord Energy stock opened at $111.68 on Friday. 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 capitalization of $6.83 billion, a PE ratio of 5.75, a price-to-earnings-growth ratio of 5.77 and a beta of 0.98. Chord Energy Co. has a 52-week low of $107.24 and a 52-week high of $190.23. The company has a 50-day simple moving average of $116.50 and a two-hundred day simple moving average of $128.18.

Chord Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Wednesday, November 27th were issued a $1.25 dividend. The ex-dividend date of this dividend was Wednesday, November 27th. This represents a $5.00 dividend on an annualized basis and a yield of 4.48%. Chord Energy’s payout ratio is currently 25.75%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on CHRD. Bank of America reaffirmed a “neutral” rating and issued a $138.00 target price (down from $208.00) on shares of Chord Energy in a research report on Monday, January 13th. Wells Fargo & Company lowered their target price on Chord Energy from $176.00 to $175.00 and set an “overweight” rating for the company in a research note on Wednesday, January 15th. Royal Bank of Canada lowered their price objective on Chord Energy from $185.00 to $180.00 and set an “outperform” rating for the company in a research report on Wednesday, November 20th. Piper Sandler lowered their price objective on Chord Energy from $194.00 to $193.00 and set an “overweight” rating for the company in a research report on Wednesday, January 15th. Finally, 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. Three investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Chord Energy currently 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.