Corebridge Financial Inc. Lowers Position in Chord Energy Co. (NASDAQ:CHRD)

Corebridge Financial Inc. trimmed its stake in shares of Chord Energy Co. (NASDAQ:CHRD) by 5.5% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 69,173 shares of the company’s stock after selling 4,003 shares during the period. Corebridge Financial Inc.’s holdings in Chord Energy were worth $8,088,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Commerce Bank grew its position in Chord Energy by 4.3% in the third quarter. Commerce Bank now owns 2,361 shares of the company’s stock worth $307,000 after acquiring an additional 98 shares in the last quarter. Daiwa Securities Group Inc. increased its position in shares of Chord Energy by 4.5% during the 3rd quarter. Daiwa Securities Group Inc. now owns 4,600 shares of the company’s stock valued at $599,000 after purchasing an additional 200 shares during the last quarter. FMR LLC raised its holdings in Chord Energy by 2.2% during the 3rd quarter. FMR LLC now owns 3,420,012 shares of the company’s stock valued at $445,388,000 after buying an additional 74,165 shares during the period. Quantbot Technologies LP lifted its position in Chord Energy by 354.6% in the third quarter. Quantbot Technologies LP now owns 10,584 shares of the company’s stock worth $1,378,000 after buying an additional 8,256 shares during the last quarter. Finally, Townsquare Capital LLC boosted its stake in Chord Energy by 55.7% during the third quarter. Townsquare Capital LLC now owns 2,199 shares of the company’s stock worth $286,000 after buying an additional 787 shares during the period. 97.76% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have recently issued reports on CHRD. Wells Fargo & Company lowered their target price on shares of Chord Energy from $175.00 to $166.00 and set an “overweight” rating for the company in a report on Monday. Morgan Stanley set a $139.00 price target on Chord Energy and gave the stock a “cautious” rating in a report on Wednesday. UBS Group dropped their price objective on Chord Energy from $168.00 to $161.00 and set a “buy” rating for the company in a report on Monday, December 9th. Bank of America reiterated 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. Finally, Wolfe Research raised shares of Chord Energy from a “peer perform” rating to an “outperform” rating and set a $155.00 target price for the company in a research note on Friday, January 3rd. Two investment analysts have rated the stock with a sell rating, two have given a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Chord Energy has a consensus rating of “Moderate Buy” and a consensus price target of $162.46.

Chord Energy Trading Down 1.4 %

NASDAQ:CHRD opened at $112.14 on Friday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.89 and a current ratio of 0.93. The firm has a 50-day simple moving average of $111.82 and a 200-day simple moving average of $121.46. Chord Energy Co. has a one year low of $99.40 and a one year high of $190.23. The firm has a market cap of $6.67 billion, a P/E ratio of 5.77, a P/E/G ratio of 5.83 and a beta of 0.98.

Chord Energy Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 26th. Shareholders of record on Tuesday, March 11th were issued a dividend of $1.30 per share. The ex-dividend date of this dividend was Tuesday, March 11th. This represents a $5.20 dividend on an annualized basis and a yield of 4.64%. This is a positive change from Chord Energy’s previous quarterly dividend of $1.25. Chord Energy’s dividend payout ratio is currently 32.62%.

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.