Securian Asset Management Inc. Trims Stake in Chord Energy Co. (NASDAQ:CHRD)

Securian Asset Management Inc. reduced its position in shares of Chord Energy Co. (NASDAQ:CHRD) by 4.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,621 shares of the company’s stock after selling 191 shares during the period. Securian Asset Management Inc.’s holdings in Chord Energy were worth $540,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the company. GSA Capital Partners LLP acquired a new position in Chord Energy during the 3rd quarter worth $218,000. Sumitomo Mitsui Trust Group Inc. boosted its stake in Chord Energy by 0.7% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 117,273 shares of the company’s stock valued at $15,272,000 after acquiring an additional 792 shares in the last quarter. Empowered Funds LLC grew its stake in Chord Energy by 58.0% during the 3rd quarter. Empowered Funds LLC now owns 30,825 shares of the company’s stock worth $4,014,000 after buying an additional 11,321 shares during the last quarter. Swiss National Bank grew its position in shares of Chord Energy by 0.6% during the third quarter. Swiss National Bank now owns 185,022 shares of the company’s stock worth $24,095,000 after acquiring an additional 1,100 shares during the last quarter. Finally, Quest Partners LLC increased its stake in Chord Energy by 718,700.0% in the third quarter. Quest Partners LLC now owns 7,188 shares of the company’s stock valued at $936,000 after purchasing an additional 7,187 shares during the period. 97.76% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CHRD has been the topic of a number of recent research reports. Citigroup lowered Chord Energy to a “reduce” rating in a report on Wednesday, March 5th. Royal Bank of Canada reduced 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. Williams Trading set a $155.00 price objective on shares of Chord Energy in a research report on Wednesday, March 5th. Piper Sandler reduced their target price on Chord Energy from $193.00 to $184.00 and set an “overweight” rating on the stock in a research note on Thursday, March 6th. Finally, Mizuho decreased their price target on shares of Chord Energy from $192.00 to $178.00 and set an “outperform” rating on the stock in a research note on Monday, December 16th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $164.62.

Chord Energy Stock Up 1.3 %

Shares of NASDAQ:CHRD opened at $107.63 on Tuesday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.89 and a current ratio of 0.93. Chord Energy Co. has a 1 year low of $99.40 and a 1 year high of $190.23. The stock has a 50-day simple moving average of $114.24 and a 200-day simple moving average of $123.16. The stock has a market capitalization of $6.42 billion, a P/E ratio of 5.54, a PEG ratio of 5.83 and a beta of 0.98.

Chord Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 26th. Investors of record on Tuesday, March 11th will be given a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a yield of 4.83%. This is a boost from Chord Energy’s previous quarterly dividend of $1.25. The ex-dividend date of this dividend is Tuesday, March 11th. Chord Energy’s dividend payout ratio is 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.