Envestnet Portfolio Solutions Inc. Raises Stake in Chord Energy Co. (NASDAQ:CHRD)

Envestnet Portfolio Solutions Inc. lifted its stake in shares of Chord Energy Co. (NASDAQ:CHRD) by 2.9% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 3,710 shares of the company’s stock after purchasing an additional 106 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Chord Energy were worth $434,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the stock. 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 valued at approximately $29,000. Larson Financial Group LLC raised its holdings in Chord Energy by 238.3% during the fourth quarter. Larson Financial Group LLC now owns 318 shares of the company’s stock worth $37,000 after purchasing an additional 224 shares during the last quarter. R Squared Ltd purchased a new stake in Chord Energy during the fourth quarter worth $51,000. Finally, Venturi Wealth Management LLC grew its holdings in Chord Energy by 1,751.9% in the fourth quarter. Venturi Wealth Management LLC now owns 500 shares of the company’s stock valued at $58,000 after purchasing an additional 473 shares during the last quarter. Hedge funds and other institutional investors own 97.76% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. Wells Fargo & Company decreased their price objective on shares of Chord Energy from $175.00 to $166.00 and set an “overweight” rating on the stock in a research report on Monday. Mizuho dropped their price objective on shares of Chord Energy from $192.00 to $178.00 and set an “outperform” rating for the company in a research note on Monday, December 16th. UBS Group reduced their target price on Chord Energy from $168.00 to $161.00 and set a “buy” rating on the stock in a research note on Monday, December 9th. Bank of America reissued a “neutral” rating and set a $138.00 price target (down previously from $208.00) on shares of Chord Energy in a research report on Monday, January 13th. Finally, Truist Financial increased their price objective on Chord Energy from $185.00 to $186.00 and gave the company a “buy” rating in a research note on Monday, January 13th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $162.46.

Chord Energy Stock Performance

NASDAQ:CHRD opened at $113.68 on Thursday. The company has a market cap of $6.78 billion, a P/E ratio of 5.85, a P/E/G ratio of 5.83 and a beta of 0.98. The firm’s 50 day moving average is $112.38 and its two-hundred day moving average is $121.58. Chord Energy Co. has a fifty-two week low of $99.40 and a fifty-two week high of $190.23. 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 Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 26th. Investors of record on Tuesday, March 11th were issued a $1.30 dividend. The ex-dividend date of this dividend was Tuesday, March 11th. This represents a $5.20 dividend on an annualized basis and a yield of 4.57%. This is a boost from Chord Energy’s previous quarterly dividend of $1.25. Chord Energy’s dividend payout ratio (DPR) is presently 32.62%.

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.