Kendall Capital Management Sells 1,808 Shares of Chord Energy Co. (NASDAQ:CHRD)

Kendall Capital Management lessened its holdings in Chord Energy Co. (NASDAQ:CHRD) by 36.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,112 shares of the company’s stock after selling 1,808 shares during the quarter. Kendall Capital Management’s holdings in Chord Energy were worth $364,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in CHRD. Wealth Enhancement Advisory Services LLC increased its position in Chord Energy by 10.5% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 2,181 shares of the company’s stock valued at $284,000 after purchasing an additional 207 shares during the period. Janney Montgomery Scott LLC increased its position in Chord Energy by 12.2% during the 3rd quarter. Janney Montgomery Scott LLC now owns 19,621 shares of the company’s stock valued at $2,555,000 after purchasing an additional 2,129 shares during the period. AIA Group Ltd increased its position in Chord Energy by 9.9% during the 3rd quarter. AIA Group Ltd now owns 3,343 shares of the company’s stock valued at $435,000 after purchasing an additional 301 shares during the period. Covestor Ltd increased its position in Chord Energy by 21.4% during the 3rd quarter. Covestor Ltd now owns 767 shares of the company’s stock valued at $100,000 after purchasing an additional 135 shares during the period. Finally, Crossmark Global Holdings Inc. increased its position in Chord Energy by 58.6% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 5,769 shares of the company’s stock valued at $751,000 after purchasing an additional 2,131 shares during the period. Institutional investors and hedge funds own 97.76% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on CHRD. Morgan Stanley began coverage on shares of Chord Energy in a research report on Friday, January 10th. They set an “equal weight” rating and a $158.00 target price for the company. 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 report on Friday, January 3rd. Wells Fargo & Company reduced their price objective on shares of Chord Energy from $176.00 to $175.00 and set an “overweight” rating for the company in a research report on Wednesday, January 15th. Bank of America reaffirmed a “neutral” rating and set a $138.00 price objective (down previously from $208.00) on shares of Chord Energy in a research report on Monday, January 13th. Finally, Citigroup reduced their price objective on shares of Chord Energy from $160.00 to $135.00 and set a “buy” rating for the company in a research report on Tuesday, March 4th. Three research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $165.42.

Insider Buying and Selling at Chord Energy

In other Chord Energy news, CAO Shannon Browning Kinney sold 1,000 shares of the firm’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 in the company, valued at approximately $2,267,428.80. This trade represents a 4.88 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.70% of the company’s stock.

Chord Energy Price Performance

Shares of NASDAQ:CHRD opened at $103.63 on Monday. 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’s fifty day simple moving average is $115.54 and its two-hundred day simple moving average is $124.89. Chord Energy Co. has a 1-year low of $99.40 and a 1-year high of $190.23. The stock has a market cap of $6.18 billion, a PE ratio of 5.34, a price-to-earnings-growth ratio of 5.83 and a beta of 0.98.

Chord Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 26th. Shareholders of record on Tuesday, March 11th will be paid a dividend of $1.30 per share. The ex-dividend date is Tuesday, March 11th. This is a boost from Chord Energy’s previous quarterly dividend of $1.25. This represents a $5.20 annualized dividend and a yield of 5.02%. Chord Energy’s dividend payout ratio (DPR) is 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.