Chord Energy Co. (NASDAQ:CHRD) Stake Lowered by TD Private Client Wealth LLC

TD Private Client Wealth LLC cut its stake in Chord Energy Co. (NASDAQ:CHRD) by 43.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 923 shares of the company’s stock after selling 708 shares during the period. TD Private Client Wealth LLC’s holdings in Chord Energy were worth $108,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. Teacher Retirement System of Texas acquired a new stake in Chord Energy in the 4th quarter valued at approximately $2,973,000. Boston Partners lifted its holdings in Chord Energy by 5.6% in the fourth quarter. Boston Partners now owns 2,186,483 shares of the company’s stock worth $255,684,000 after purchasing an additional 115,215 shares during the period. Advisors Asset Management Inc. grew its position in Chord Energy by 147.3% in the 4th quarter. Advisors Asset Management Inc. now owns 33,773 shares of the company’s stock valued at $3,949,000 after buying an additional 20,114 shares in the last quarter. Signaturefd LLC raised its holdings in Chord Energy by 6.2% during the fourth quarter. Signaturefd LLC now owns 3,046 shares of the company’s stock worth $356,000 after purchasing an additional 177 shares in the last quarter. Finally, Twin Tree Management LP bought a new stake in shares of Chord Energy in the 4th quarter worth $33,000. Institutional investors and hedge funds own 97.76% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on CHRD. Citigroup downgraded Chord Energy to a “reduce” rating in a report on Wednesday, March 5th. 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. UBS Group cut their target price on shares of Chord Energy from $168.00 to $161.00 and set a “buy” rating on the stock in a research note on Monday, December 9th. Morgan Stanley initiated coverage on Chord Energy in a report on Friday, January 10th. They set an “equal weight” rating and a $158.00 price target on the stock. Finally, Williams Trading set a $155.00 price objective on Chord Energy in a research note on Wednesday, March 5th. One research analyst has rated the stock with a sell rating, three have given a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $163.92.

Chord Energy Stock Performance

Chord Energy stock opened at $112.60 on Wednesday. The firm has a market capitalization of $6.71 billion, a P/E ratio of 5.80, a P/E/G ratio of 5.83 and a beta of 0.98. The stock has a fifty day moving average price of $112.66 and a two-hundred day moving average price of $121.74. Chord Energy Co. has a 52-week low of $99.40 and a 52-week high of $190.23. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.93 and a quick ratio of 0.89.

Chord Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 26th. Stockholders of record on Tuesday, March 11th will be paid a $1.30 dividend. The ex-dividend date of this dividend is Tuesday, March 11th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.62%. This is a boost from Chord Energy’s previous quarterly dividend of $1.25. Chord Energy’s payout ratio is 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.