Commonwealth Equity Services LLC Cuts Stock Holdings in Chord Energy Co. (NASDAQ:CHRD)

Commonwealth Equity Services LLC lessened its holdings in Chord Energy Co. (NASDAQ:CHRD) by 10.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 13,224 shares of the company’s stock after selling 1,616 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Chord Energy were worth $1,546,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Brooklyn Investment Group purchased a new stake in Chord Energy during the fourth quarter worth about $29,000. Larson Financial Group LLC boosted its stake in shares of Chord Energy by 238.3% during the 4th quarter. Larson Financial Group LLC now owns 318 shares of the company’s stock worth $37,000 after acquiring an additional 224 shares in the last quarter. R Squared Ltd acquired a new stake in shares of Chord Energy in the 4th quarter worth approximately $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 valued at $58,000 after purchasing an additional 473 shares in the last quarter. Finally, Union Bancaire Privee UBP SA acquired a new position in Chord Energy during the fourth quarter worth $77,000. Institutional investors and hedge funds own 97.76% of the company’s stock.

Chord Energy Trading Down 0.4 %

Shares of Chord Energy stock opened at $111.73 on Friday. The firm has a market cap of $6.65 billion, a PE ratio of 5.75, a P/E/G ratio of 5.83 and a beta of 0.98. The company has a quick ratio of 0.89, a current ratio of 0.93 and a debt-to-equity ratio of 0.10. Chord Energy Co. has a fifty-two week low of $99.40 and a fifty-two week high of $190.23. The business’s fifty day moving average is $111.53 and its two-hundred day moving average is $121.24.

Chord Energy Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 26th. Shareholders of record on Tuesday, March 11th were paid a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a yield of 4.65%. This is a positive change from Chord Energy’s previous quarterly dividend of $1.25. The ex-dividend date was Tuesday, March 11th. Chord Energy’s dividend payout ratio (DPR) is presently 32.62%.

Analyst Upgrades and Downgrades

CHRD has been the topic of several research reports. Piper Sandler dropped their price target 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. Truist Financial raised their target price on shares of Chord Energy from $185.00 to $186.00 and gave the company a “buy” rating in a report on Monday, January 13th. UBS Group reduced their price target 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. Wolfe Research raised shares of Chord Energy from a “peer perform” rating to an “outperform” rating and set a $155.00 price objective for the company in a research note on Friday, January 3rd. Finally, Wells Fargo & Company reduced their target price on Chord Energy from $175.00 to $166.00 and set an “overweight” rating on the stock in a research note on Monday, March 24th. Two analysts have rated the stock with a sell rating, two have issued a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $162.46.

Chord Energy 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.