Corient Private Wealth LLC Cuts Stock Holdings in Chord Energy Co. (NASDAQ:CHRD)

Corient Private Wealth LLC cut its stake in Chord Energy Co. (NASDAQ:CHRD) by 48.2% in the fourth quarter, HoldingsChannel reports. The firm owned 18,849 shares of the company’s stock after selling 17,530 shares during the quarter. Corient Private Wealth LLC’s holdings in Chord Energy were worth $2,204,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. FMR LLC boosted its stake in shares of Chord Energy by 2.2% in the 3rd quarter. FMR LLC now owns 3,420,012 shares of the company’s stock valued at $445,388,000 after buying an additional 74,165 shares during the period. Victory Capital Management Inc. raised its holdings in Chord Energy by 27.6% in the fourth quarter. Victory Capital Management Inc. now owns 2,864,456 shares of the company’s stock valued at $334,912,000 after acquiring an additional 619,021 shares in the last quarter. State Street Corp lifted its stake in Chord Energy by 0.9% in the third quarter. State Street Corp now owns 2,485,777 shares of the company’s stock worth $323,723,000 after acquiring an additional 22,753 shares during the last quarter. Pacer Advisors Inc. grew its holdings in Chord Energy by 50.4% during the 4th quarter. Pacer Advisors Inc. now owns 1,872,156 shares of the company’s stock worth $218,892,000 after acquiring an additional 627,122 shares in the last quarter. Finally, Geode Capital Management LLC increased its position in shares of Chord Energy by 3.0% in the 3rd quarter. Geode Capital Management LLC now owns 1,162,442 shares of the company’s stock valued at $151,077,000 after purchasing an additional 34,156 shares during the last quarter. 97.76% of the stock is owned by institutional investors and hedge funds.

Chord Energy Trading Down 1.0 %

NASDAQ CHRD opened at $109.71 on Monday. The firm’s fifty day moving average is $112.92 and its two-hundred day moving average is $121.91. Chord Energy Co. has a one year low of $99.40 and a one year high of $190.23. 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 firm has a market cap of $6.54 billion, a PE ratio of 5.65, a P/E/G ratio of 5.83 and a beta of 0.98.

Chord Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 26th. Investors of record on Tuesday, March 11th will be given a $1.30 dividend. This represents a $5.20 annualized dividend and a yield of 4.74%. The ex-dividend date of this dividend is Tuesday, March 11th. This is a boost from Chord Energy’s previous quarterly dividend of $1.25. Chord Energy’s payout ratio is 32.62%.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on CHRD. Citigroup downgraded shares of Chord Energy to a “reduce” rating in a research note on Wednesday, March 5th. Wolfe Research raised Chord Energy from a “peer perform” rating to an “outperform” rating and set a $155.00 target price on the stock in a research report on Friday, January 3rd. Truist Financial upped their price target on Chord Energy from $185.00 to $186.00 and gave the company a “buy” rating in a report on Monday, January 13th. Mizuho cut their price objective on shares of Chord Energy from $192.00 to $178.00 and set an “outperform” rating on the stock in a report on Monday, December 16th. Finally, Bank of America restated a “neutral” rating and issued a $138.00 target price (down previously from $208.00) on shares of Chord Energy in a report on Monday, January 13th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently 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.