Avidian Wealth Enterprises LLC Acquires Shares of 5,147 Chord Energy Co. (NASDAQ:CHRD)

Avidian Wealth Enterprises LLC bought a new position in shares of Chord Energy Co. (NASDAQ:CHRD) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 5,147 shares of the company’s stock, valued at approximately $602,000.

Other large investors have also made changes to their positions in the company. FMR LLC increased its position in Chord Energy by 2.2% during the third quarter. FMR LLC now owns 3,420,012 shares of the company’s stock worth $445,388,000 after purchasing an additional 74,165 shares during the last quarter. State Street Corp grew its holdings in shares of Chord Energy by 0.9% during the 3rd quarter. State Street Corp now owns 2,485,777 shares of the company’s stock worth $323,723,000 after purchasing an additional 22,753 shares during the period. Victory Capital Management Inc. boosted its stake in Chord Energy by 41.3% during the third quarter. Victory Capital Management Inc. now owns 2,245,435 shares of the company’s stock worth $292,423,000 after buying an additional 656,374 shares during the period. Pacer Advisors Inc. increased its position in shares of Chord Energy by 50.4% during the fourth quarter. Pacer Advisors Inc. now owns 1,872,156 shares of the company’s stock valued at $218,892,000 after acquiring an additional 627,122 shares during the last quarter. Finally, Geode Capital Management LLC raised its stake in shares of Chord Energy by 3.0% in the 3rd quarter. Geode Capital Management LLC now owns 1,162,442 shares of the company’s stock valued at $151,077,000 after acquiring an additional 34,156 shares during the period. 97.76% of the stock is currently owned by hedge funds and other institutional investors.

Chord Energy Trading Down 4.1 %

NASDAQ CHRD opened at $109.67 on Thursday. Chord Energy Co. has a 52 week low of $107.24 and a 52 week high of $190.23. The firm has a 50 day moving average of $117.47 and a two-hundred day moving average of $130.46. The stock has a market capitalization of $6.70 billion, a PE ratio of 5.65, a price-to-earnings-growth ratio of 5.46 and a beta of 0.98. The company has a quick ratio of 0.89, a current ratio of 0.93 and a debt-to-equity ratio of 0.10.

Chord Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Wednesday, November 27th were issued a $1.25 dividend. This represents a $5.00 annualized dividend and a yield of 4.56%. The ex-dividend date of this dividend was Wednesday, November 27th. Chord Energy’s dividend payout ratio (DPR) is presently 25.75%.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the stock. Truist Financial lifted their target price on shares of Chord Energy from $185.00 to $186.00 and gave the company a “buy” rating in a report on Monday, January 13th. Mizuho dropped their price objective on Chord Energy from $192.00 to $178.00 and set an “outperform” rating for the company in a research note on Monday, December 16th. Piper Sandler decreased their target price on Chord Energy from $194.00 to $193.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 15th. Wells Fargo & Company lowered their target price on Chord Energy from $176.00 to $175.00 and set an “overweight” rating for the company in a report on Wednesday, January 15th. Finally, Morgan Stanley assumed coverage on shares of 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. Three research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $173.08.

Insider Buying and Selling at Chord Energy

In other Chord Energy news, CAO Shannon Browning Kinney sold 1,000 shares of the stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $116.35, for a total value of $116,350.00. Following the transaction, the chief accounting officer now directly owns 19,488 shares in the company, valued at $2,267,428.80. This represents a 4.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.70% of the stock is owned by insiders.

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.