Chord Energy Co. (NASDAQ:CHRD) Shares Sold by US Bancorp DE

US Bancorp DE reduced its position in shares of Chord Energy Co. (NASDAQ:CHRD) by 13.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,496 shares of the company’s stock after selling 233 shares during the period. US Bancorp DE’s holdings in Chord Energy were worth $175,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Stone House Investment Management LLC acquired a new position in Chord Energy during the third quarter worth about $26,000. Brooklyn Investment Group purchased a new position in Chord Energy in the 4th quarter worth about $29,000. R Squared Ltd purchased a new position in Chord Energy in the 4th quarter worth about $51,000. Venturi Wealth Management LLC increased its stake in Chord Energy by 1,751.9% in the 4th quarter. Venturi Wealth Management LLC now owns 500 shares of the company’s stock worth $58,000 after purchasing an additional 473 shares in the last quarter. Finally, Union Bancaire Privee UBP SA purchased a new position in Chord Energy in the 4th quarter worth about $77,000. 97.76% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, CAO Shannon Browning Kinney sold 1,000 shares of the business’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $116.35, for a total value of $116,350.00. Following the completion of the sale, the chief accounting officer now directly owns 19,488 shares in the company, valued at approximately $2,267,428.80. The trade was a 4.88 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.70% of the stock is owned by corporate insiders.

Chord Energy Stock Up 2.8 %

Shares of Chord Energy stock opened at $106.21 on Friday. The firm has a market cap of $6.33 billion, a price-to-earnings ratio of 5.47, 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 52-week low of $99.40 and a 52-week high of $190.23. The stock has a 50-day simple moving average of $114.24 and a 200-day simple moving average of $123.33.

Chord Energy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 26th. Stockholders of record on Tuesday, March 11th will be issued a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a dividend yield of 4.90%. This is a positive change from Chord Energy’s previous quarterly dividend of $1.25. The ex-dividend date is Tuesday, March 11th. Chord Energy’s payout ratio is currently 32.62%.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on CHRD. Wolfe Research raised Chord Energy from a “peer perform” rating to an “outperform” rating and set a $155.00 price target on the stock in a research note on Friday, January 3rd. Bank of America reissued a “neutral” rating and issued a $138.00 price target (down previously from $208.00) on shares of Chord Energy in a research note on Monday, January 13th. Citigroup cut Chord Energy to a “reduce” rating in a research note on Wednesday, March 5th. Royal Bank of Canada decreased 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. Finally, Piper Sandler decreased their price objective on Chord Energy from $193.00 to $184.00 and set an “overweight” rating for the company in a research report on Thursday, March 6th. One analyst has rated the stock with a sell rating, three have given a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $164.62.

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.