American Century Companies Inc. Boosts Stake in Chord Energy Co. (NASDAQ:CHRD)

American Century Companies Inc. raised its stake in shares of Chord Energy Co. (NASDAQ:CHRD) by 15.0% in the 4th quarter, Holdings Channel reports. The fund owned 1,116,073 shares of the company’s stock after acquiring an additional 145,627 shares during the quarter. American Century Companies Inc.’s holdings in Chord Energy were worth $130,491,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Delta Capital Management LLC raised its stake in Chord Energy by 4.3% during the 4th quarter. Delta Capital Management LLC now owns 2,200 shares of the company’s stock valued at $257,000 after acquiring an additional 90 shares during the last quarter. Commerce Bank raised its stake in Chord Energy by 4.3% during the 3rd quarter. Commerce Bank now owns 2,361 shares of the company’s stock valued at $307,000 after acquiring an additional 98 shares during the last quarter. Gables Capital Management Inc. increased its position in Chord Energy by 6.9% during the 4th quarter. Gables Capital Management Inc. now owns 1,550 shares of the company’s stock worth $181,000 after purchasing an additional 100 shares during the period. Envestnet Portfolio Solutions Inc. increased its position in Chord Energy by 2.9% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 3,710 shares of the company’s stock worth $434,000 after purchasing an additional 106 shares during the period. Finally, Exchange Traded Concepts LLC increased its position in Chord Energy by 1.8% during the 4th quarter. Exchange Traded Concepts LLC now owns 6,145 shares of the company’s stock worth $718,000 after purchasing an additional 110 shares during the period. 97.76% of the stock is owned by hedge funds and other institutional investors.

Chord Energy Stock Performance

CHRD opened at $109.71 on Monday. The stock has a market cap of $6.54 billion, a P/E ratio of 5.65, a P/E/G ratio of 5.83 and a beta of 0.98. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.93 and a quick ratio of 0.89. The stock’s 50 day simple moving average is $112.92 and its 200 day simple moving average is $121.91. Chord Energy Co. has a 1-year low of $99.40 and a 1-year high of $190.23.

Chord Energy Increases Dividend

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

Wall Street Analyst Weigh In

Several equities analysts have issued reports on CHRD shares. Wells Fargo & Company dropped their target price on Chord Energy from $176.00 to $175.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 15th. Morgan Stanley started coverage on Chord Energy in a research report on Friday, January 10th. They set an “equal weight” rating and a $158.00 target price on the stock. UBS Group dropped their target price on Chord Energy from $168.00 to $161.00 and set a “buy” rating on the stock in a research report on Monday, December 9th. Mizuho dropped their target price on Chord Energy from $192.00 to $178.00 and set an “outperform” rating on the stock in a research report on Monday, December 16th. Finally, Williams Trading set a $155.00 target price on Chord Energy in a research report on Wednesday, March 5th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $164.62.

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.