Chord Energy Co. (NASDAQ:CHRD) Shares Sold by Scotia Capital Inc.

Scotia Capital Inc. cut its stake in shares of Chord Energy Co. (NASDAQ:CHRD) by 46.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,434 shares of the company’s stock after selling 2,973 shares during the period. Scotia Capital Inc.’s holdings in Chord Energy were worth $402,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. FMR LLC boosted its position in shares of Chord Energy by 11.5% during the 4th quarter. FMR LLC now owns 3,814,384 shares of the company’s stock worth $445,978,000 after purchasing an additional 394,372 shares during the period. Victory Capital Management Inc. boosted its position in shares of Chord Energy by 27.6% during the fourth quarter. Victory Capital Management Inc. now owns 2,864,456 shares of the company’s stock worth $334,912,000 after buying an additional 619,021 shares during the period. Boston Partners grew its stake in shares of Chord Energy by 5.6% in the fourth quarter. Boston Partners now owns 2,186,483 shares of the company’s stock valued at $255,684,000 after buying an additional 115,215 shares in the last quarter. Pacer Advisors Inc. raised its holdings 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 lifted its stake in Chord Energy by 3.0% during the 3rd quarter. Geode Capital Management LLC now owns 1,162,442 shares of the company’s stock worth $151,077,000 after acquiring an additional 34,156 shares in the last quarter. 97.76% of the stock is owned by hedge funds and other institutional investors.

Chord Energy Stock Down 0.9 %

Chord Energy stock opened at $88.52 on Tuesday. The stock has a market cap of $5.27 billion, a PE ratio of 4.56, a P/E/G ratio of 5.83 and a beta of 0.96. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.93 and a quick ratio of 0.89. The stock’s fifty day moving average is $105.66 and its two-hundred day moving average is $117.65. Chord Energy Co. has a 1-year low of $79.83 and a 1-year high of $188.41.

Chord Energy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 26th. Stockholders of record on Tuesday, March 11th were given a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a dividend yield of 5.87%. The ex-dividend date was Tuesday, March 11th. This is a positive change from Chord Energy’s previous quarterly dividend of $1.25. Chord Energy’s dividend payout ratio (DPR) is 32.62%.

Analysts Set New Price Targets

Several research firms have weighed in on CHRD. Mizuho dropped their target price on Chord Energy from $192.00 to $178.00 and set an “outperform” rating for the company in a research report on Monday, December 16th. Truist Financial upped their target price 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. Wolfe Research raised shares of Chord Energy from a “peer perform” rating to an “outperform” rating and set a $155.00 price target for the company in a research report on Friday, January 3rd. Piper Sandler dropped their price target on shares of Chord Energy from $193.00 to $184.00 and set an “overweight” rating for the company in a research note on Thursday, March 6th. Finally, Wells Fargo & Company reduced their price objective on Chord Energy from $175.00 to $166.00 and set an “overweight” rating on the stock in a research note on Monday, March 24th. One analyst has rated the stock with a sell rating, two have issued a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $157.62.

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.