Amundi Cuts Stock Position in Chord Energy Co. (NASDAQ:CHRD)

Amundi decreased its position in shares of Chord Energy Co. (NASDAQ:CHRD) by 55.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 155,152 shares of the company’s stock after selling 196,445 shares during the period. Amundi owned about 0.25% of Chord Energy worth $19,022,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. FMR LLC grew its stake in shares of Chord Energy by 2.2% in the third quarter. FMR LLC now owns 3,420,012 shares of the company’s stock worth $445,388,000 after acquiring an additional 74,165 shares in the last quarter. Victory Capital Management Inc. grew its stake in Chord Energy by 27.6% during 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 in the last quarter. State Street Corp increased its holdings in 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. Pacer Advisors Inc. boosted its stake in shares of Chord Energy by 50.4% in the 4th quarter. Pacer Advisors Inc. now owns 1,872,156 shares of the company’s stock valued at $218,892,000 after buying an additional 627,122 shares during the period. Finally, Geode Capital Management LLC boosted 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 buying an additional 34,156 shares during the period. 97.76% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, CAO Shannon Browning Kinney sold 1,000 shares of the business’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $116.35, for a total value of $116,350.00. Following the transaction, the chief accounting officer now owns 19,488 shares in the company, valued at $2,267,428.80. The trade was a 4.88 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 0.70% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on CHRD. UBS Group reduced their target price on shares of Chord Energy from $168.00 to $161.00 and set a “buy” rating on the stock in a report on Monday, December 9th. Truist Financial increased their price objective on Chord Energy from $185.00 to $186.00 and gave the company a “buy” rating in a report on Monday, January 13th. Piper Sandler cut their target price on Chord Energy from $193.00 to $184.00 and set an “overweight” rating on the stock in a research report on Thursday, March 6th. Williams Trading set a $155.00 target price on Chord Energy in a research note on Wednesday, March 5th. Finally, Wolfe Research raised shares of Chord Energy from a “peer perform” rating to an “outperform” rating and set a $155.00 price objective on the stock in a report on Friday, January 3rd. One equities 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 issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $164.62.

Chord Energy Price Performance

CHRD stock opened at $103.32 on Friday. The business has a 50 day simple moving average of $114.85 and a 200-day simple moving average of $123.96. Chord Energy Co. has a twelve month low of $99.40 and a twelve month high of $190.23. The company has a market capitalization of $6.16 billion, a P/E ratio of 5.32, a PEG ratio of 5.83 and a beta of 0.98. 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 Increases Dividend

The firm 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 $1.30 dividend. The ex-dividend date of this dividend is Tuesday, March 11th. This is a positive change from Chord Energy’s previous quarterly dividend of $1.25. This represents a $5.20 dividend on an annualized basis and a yield of 5.03%. Chord Energy’s payout ratio 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.