Versor Investments LP Takes $737,000 Position in Chord Energy Co. (NASDAQ:CHRD)

Versor Investments LP acquired a new stake in Chord Energy Co. (NASDAQ:CHRD) in the fourth quarter, HoldingsChannel reports. The firm acquired 6,300 shares of the company’s stock, valued at approximately $737,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Victory Capital Management Inc. increased its position 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 purchasing an additional 656,374 shares during the last quarter. Merit Financial Group LLC acquired a new position in Chord Energy during the fourth quarter worth approximately $553,000. Geode Capital Management LLC increased its position in Chord Energy by 3.0% during the third quarter. Geode Capital Management LLC now owns 1,162,442 shares of the company’s stock worth $151,077,000 after purchasing an additional 34,156 shares during the last quarter. Kingsview Wealth Management LLC increased its position in Chord Energy by 55.3% during the fourth quarter. Kingsview Wealth Management LLC now owns 21,744 shares of the company’s stock worth $2,542,000 after purchasing an additional 7,743 shares during the last quarter. Finally, Arkfeld Wealth Strategies L.L.C. increased its position in Chord Energy by 3.5% during the fourth quarter. Arkfeld Wealth Strategies L.L.C. now owns 92,211 shares of the company’s stock worth $11,596,000 after purchasing an additional 3,151 shares during the last quarter. Institutional investors and hedge funds own 97.76% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on CHRD. Morgan Stanley began coverage on shares of Chord Energy in a research report on Friday, January 10th. They set an “equal weight” rating and a $158.00 price target for the company. Royal Bank of Canada dropped their price target on shares of Chord Energy from $185.00 to $180.00 and set an “outperform” rating for the company in a research report on Wednesday, November 20th. Piper Sandler decreased their price objective on shares of Chord Energy from $194.00 to $193.00 and set an “overweight” rating for the company in a research note on Wednesday, January 15th. Mizuho decreased their price objective on shares of Chord Energy from $192.00 to $178.00 and set an “outperform” rating for the company in a research note on Monday, December 16th. Finally, Bank of America reiterated a “neutral” rating and set a $138.00 price objective (down from $208.00) on shares of Chord Energy in a research note on Monday, January 13th. Three analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $169.92.

Chord Energy Price Performance

Shares of CHRD stock opened at $114.30 on Friday. The company has a market capitalization of $6.99 billion, a PE ratio of 5.89, a price-to-earnings-growth ratio of 5.83 and a beta of 0.98. The firm has a fifty day simple moving average of $116.36 and a 200-day simple moving average of $127.06. 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 Co. has a twelve month low of $107.24 and a twelve month high of $190.23.

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 is an increase from Chord Energy’s previous quarterly dividend of $1.25. This represents a $5.20 annualized dividend and a dividend yield of 4.55%. Chord Energy’s dividend payout ratio is 31.37%.

Insider Activity

In other Chord Energy news, CAO Shannon Browning Kinney sold 1,000 shares of the firm’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $116.35, for a total transaction of $116,350.00. Following the completion of the transaction, the chief accounting officer now directly owns 19,488 shares of the company’s stock, valued at $2,267,428.80. This trade represents a 4.88 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.70% of the company’s stock.

Chord Energy 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.