Lindbrook Capital LLC Reduces Stock Holdings in Chord Energy Co. (NASDAQ:CHRD)

Lindbrook Capital LLC trimmed its holdings in shares of Chord Energy Co. (NASDAQ:CHRD) by 23.6% during the 4th quarter, Holdings Channel reports. The institutional investor owned 671 shares of the company’s stock after selling 207 shares during the period. Lindbrook Capital LLC’s holdings in Chord Energy were worth $78,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CHRD. Pacer Advisors Inc. grew its stake in Chord Energy by 8,762.1% during the 3rd quarter. Pacer Advisors Inc. now owns 1,245,034 shares of the company’s stock valued at $162,141,000 after purchasing an additional 1,230,985 shares during the last quarter. Victory Capital Management Inc. grew its stake in Chord Energy by 41.3% during the 3rd quarter. Victory Capital Management Inc. now owns 2,245,435 shares of the company’s stock valued at $292,423,000 after purchasing an additional 656,374 shares during the last quarter. Point72 Asset Management L.P. grew its stake in Chord Energy by 143.8% during the 3rd quarter. Point72 Asset Management L.P. now owns 880,787 shares of the company’s stock valued at $114,705,000 after purchasing an additional 519,547 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in Chord Energy during the 4th quarter valued at about $29,984,000. Finally, Allspring Global Investments Holdings LLC grew its stake in Chord Energy by 30.1% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 744,309 shares of the company’s stock valued at $88,459,000 after purchasing an additional 172,196 shares during the last quarter. 97.76% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. Piper Sandler dropped their price target on Chord Energy from $193.00 to $184.00 and set an “overweight” rating on the stock in a research note on Thursday. 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 price target on the stock. Mizuho dropped their price target on Chord Energy from $192.00 to $178.00 and set an “outperform” rating on the stock in a research note on Monday, December 16th. Royal Bank of Canada lowered their target price on Chord Energy from $185.00 to $180.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 20th. Finally, Wells Fargo & Company lowered their target price on Chord Energy from $176.00 to $175.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 15th. Three research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $165.42.

Insider Buying and Selling

In other news, CAO Shannon Browning Kinney sold 1,000 shares of the firm’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 transaction, the chief accounting officer now owns 19,488 shares in the company, valued at $2,267,428.80. This trade represents a 4.88 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.70% of the stock is currently owned by insiders.

Chord Energy Stock Performance

NASDAQ CHRD opened at $103.63 on Friday. The stock has a market capitalization of $6.18 billion, a price-to-earnings ratio of 5.34, a PEG ratio of 5.83 and a beta of 0.98. Chord Energy Co. has a twelve month low of $99.40 and a twelve month high of $190.23. The company has a current ratio of 0.93, a quick ratio of 0.89 and a debt-to-equity ratio of 0.10. The stock has a 50-day moving average of $115.54 and a 200 day moving average of $125.06.

Chord Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 26th. Investors of record on Tuesday, March 11th will be issued a $1.30 dividend. This is a boost from Chord Energy’s previous quarterly dividend of $1.25. The ex-dividend date of this dividend is Tuesday, March 11th. This represents a $5.20 dividend on an annualized basis and a yield of 5.02%. Chord Energy’s dividend payout ratio is presently 32.62%.

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.