Empowered Funds LLC Sells 1,807 Shares of Chord Energy Co. (NASDAQ:CHRD)

Empowered Funds LLC reduced its stake in shares of Chord Energy Co. (NASDAQ:CHRD) by 5.9% during the 4th quarter, HoldingsChannel reports. The fund owned 29,018 shares of the company’s stock after selling 1,807 shares during the period. Empowered Funds LLC’s holdings in Chord Energy were worth $3,393,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the business. Delta Capital Management LLC grew its stake in shares of Chord Energy by 4.3% during the fourth quarter. Delta Capital Management LLC now owns 2,200 shares of the company’s stock valued at $257,000 after buying an additional 90 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of Chord Energy by 30.6% during the third quarter. GAMMA Investing LLC now owns 414 shares of the company’s stock valued at $54,000 after buying an additional 97 shares during the last quarter. Commerce Bank grew its stake in shares of Chord Energy by 4.3% during the third quarter. Commerce Bank now owns 2,361 shares of the company’s stock valued at $307,000 after buying an additional 98 shares during the last quarter. New York State Teachers Retirement System grew its stake in shares of Chord Energy by 0.4% during the third quarter. New York State Teachers Retirement System now owns 27,274 shares of the company’s stock valued at $3,552,000 after buying an additional 100 shares during the last quarter. Finally, UMB Bank n.a. grew its stake in shares of Chord Energy by 77.7% during the third quarter. UMB Bank n.a. now owns 231 shares of the company’s stock valued at $30,000 after buying an additional 101 shares during the last quarter. Institutional investors own 97.76% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Morgan Stanley assumed coverage on Chord Energy in a research note on Friday, January 10th. They set an “equal weight” rating and a $158.00 target price on the stock. Wells Fargo & Company lowered their price target on Chord Energy from $176.00 to $175.00 and set an “overweight” rating for the company in a report on Wednesday, January 15th. Royal Bank of Canada lowered their price target on Chord Energy from $185.00 to $180.00 and set an “outperform” rating for the company in a report on Wednesday, November 20th. Bank of America reiterated a “neutral” rating and issued a $138.00 price target (down previously from $208.00) on shares of Chord Energy in a report on Monday, January 13th. Finally, UBS Group lowered their price target on Chord Energy from $168.00 to $161.00 and set a “buy” rating for the company in a report on Monday, December 9th. Three research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Chord Energy has a consensus rating of “Moderate Buy” and a consensus price target of $173.08.

Chord Energy Stock Down 4.1 %

Chord Energy stock opened at $109.67 on Thursday. The business has a fifty day moving average of $117.47 and a two-hundred day moving average of $130.46. The company has a quick ratio of 0.89, a current ratio of 0.93 and a debt-to-equity ratio of 0.10. The firm has a market cap of $6.70 billion, a P/E ratio of 5.65, a P/E/G ratio of 5.46 and a beta of 0.98. Chord Energy Co. has a twelve month low of $107.24 and a twelve month high of $190.23.

Chord Energy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Wednesday, November 27th were issued a dividend of $1.25 per share. 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 4.56%. Chord Energy’s dividend payout ratio is currently 25.75%.

Insiders Place Their Bets

In other news, CAO Shannon Browning Kinney sold 1,000 shares of the company’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $116.35, for a total transaction of $116,350.00. Following the transaction, the chief accounting officer now directly owns 19,488 shares of the company’s stock, valued at approximately $2,267,428.80. This represents a 4.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.70% of the stock is owned by company insiders.

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.