Chord Energy Co. (NASDAQ:CHRD) Stake Lifted by Boston Partners

Boston Partners raised its holdings in shares of Chord Energy Co. (NASDAQ:CHRD) by 5.6% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,186,483 shares of the company’s stock after buying an additional 115,215 shares during the period. Boston Partners’ holdings in Chord Energy were worth $255,684,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in CHRD. Pacer Advisors Inc. boosted its holdings in Chord Energy by 8,762.1% during the third quarter. Pacer Advisors Inc. now owns 1,245,034 shares of the company’s stock worth $162,141,000 after buying an additional 1,230,985 shares in the last quarter. Victory Capital Management Inc. boosted its stake in Chord Energy by 27.6% in the 4th quarter. Victory Capital Management Inc. now owns 2,864,456 shares of the company’s stock worth $334,912,000 after purchasing an additional 619,021 shares during the period. Point72 Asset Management L.P. boosted its stake in Chord Energy by 143.8% in the 3rd quarter. Point72 Asset Management L.P. now owns 880,787 shares of the company’s stock worth $114,705,000 after purchasing an additional 519,547 shares during the period. Raymond James Financial Inc. acquired a new position in Chord Energy in the 4th quarter worth approximately $29,984,000. Finally, Allspring Global Investments Holdings LLC boosted its stake in Chord Energy by 30.1% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 744,309 shares of the company’s stock worth $88,459,000 after purchasing an additional 172,196 shares during the period. 97.76% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. Truist Financial raised their price objective on shares of Chord Energy from $185.00 to $186.00 and gave the stock a “buy” rating in a research note on Monday, January 13th. Mizuho decreased 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. Morgan Stanley assumed coverage on shares of Chord Energy in a research note on Friday, January 10th. They issued an “equal weight” rating and a $158.00 price objective for the company. Bank of America reaffirmed a “neutral” rating and issued a $138.00 price objective (down previously from $208.00) on shares of Chord Energy in a research note on Monday, January 13th. Finally, Wolfe Research upgraded shares of Chord Energy from a “peer perform” rating to an “outperform” rating and set a $155.00 target price for the company in a research report on Friday, January 3rd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Chord Energy has a consensus rating of “Moderate Buy” and an average price target of $164.62.

Chord Energy Stock Up 1.0 %

Chord Energy stock opened at $108.72 on Wednesday. The company has a market capitalization of $6.48 billion, a P/E ratio of 5.60, a P/E/G ratio of 5.83 and a beta of 0.98. The firm’s fifty day simple moving average is $113.67 and its 200-day simple moving average is $122.59. The company has a current ratio of 0.93, a quick ratio of 0.89 and a debt-to-equity ratio of 0.10. Chord Energy Co. has a 1-year low of $99.40 and a 1-year high of $190.23.

Chord Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 26th. Stockholders of record on Tuesday, March 11th will be issued a dividend of $1.30 per share. The ex-dividend date is Tuesday, March 11th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.78%. This is an increase from Chord Energy’s previous quarterly dividend of $1.25. Chord Energy’s dividend payout ratio (DPR) is currently 32.62%.

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.