Madison Investment Advisors LLC Takes $4.10 Million Position in Chord Energy Co. (NASDAQ:CHRD)

Madison Investment Advisors LLC acquired a new stake in Chord Energy Co. (NASDAQ:CHRD) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 35,094 shares of the company’s stock, valued at approximately $4,103,000.

Other hedge funds have also modified their holdings of the company. Stone House Investment Management LLC purchased a new stake in shares of Chord Energy in the third quarter worth about $26,000. Brooklyn Investment Group purchased a new stake in shares of Chord Energy in the fourth quarter worth about $29,000. Larson Financial Group LLC boosted its stake in shares of Chord Energy by 238.3% in the fourth quarter. Larson Financial Group LLC now owns 318 shares of the company’s stock worth $37,000 after buying an additional 224 shares during the last quarter. R Squared Ltd purchased a new stake in shares of Chord Energy in the fourth quarter worth about $51,000. Finally, Venturi Wealth Management LLC boosted its stake in shares of Chord Energy by 1,751.9% in the fourth quarter. Venturi Wealth Management LLC now owns 500 shares of the company’s stock worth $58,000 after buying an additional 473 shares during the last quarter. 97.76% of the stock is owned by institutional investors and hedge funds.

Chord Energy Stock Performance

NASDAQ CHRD opened at $109.71 on Friday. The company has a market cap of $6.54 billion, a PE ratio of 5.65, a price-to-earnings-growth ratio of 5.83 and a beta of 0.98. The stock’s 50 day simple moving average is $112.92 and its 200-day simple moving average is $122.16. Chord Energy Co. has a 1-year low of $99.40 and a 1-year 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 business also recently declared a quarterly dividend, which will be paid on Wednesday, March 26th. Investors of record on Tuesday, March 11th will be issued a $1.30 dividend. This represents a $5.20 annualized dividend and a dividend yield of 4.74%. The ex-dividend date of this dividend is Tuesday, March 11th. This is a boost from Chord Energy’s previous quarterly dividend of $1.25. Chord Energy’s dividend payout ratio (DPR) is currently 32.62%.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Bank of America restated a “neutral” rating and issued a $138.00 target price (down previously from $208.00) on shares of Chord Energy in a research note on Monday, January 13th. UBS Group lowered their price target 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. Truist Financial increased their price target on Chord Energy from $185.00 to $186.00 and gave the stock a “buy” rating in a research report on Monday, January 13th. Wells Fargo & Company lowered their price target 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. Finally, Williams Trading set a $155.00 price target on Chord Energy in a research report on Wednesday, March 5th. One 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’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $164.62.

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.