HITE Hedge Asset Management LLC Has $40.80 Million Stake in Chord Energy Co. (NASDAQ:CHRD)

HITE Hedge Asset Management LLC raised its holdings in shares of Chord Energy Co. (NASDAQ:CHRD) by 50.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 348,929 shares of the company’s stock after buying an additional 116,877 shares during the period. Chord Energy comprises approximately 3.0% of HITE Hedge Asset Management LLC’s portfolio, making the stock its 10th largest position. HITE Hedge Asset Management LLC’s holdings in Chord Energy were worth $40,797,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Altshuler Shaham Ltd purchased a new stake in Chord Energy during the 4th quarter valued at about $25,000. Brooklyn Investment Group bought a new position in shares of Chord Energy during the 4th quarter valued at approximately $29,000. Twin Tree Management LP purchased a new stake in Chord Energy in the 4th quarter worth approximately $33,000. Larson Financial Group LLC raised its stake in Chord Energy by 238.3% during the 4th quarter. Larson Financial Group LLC now owns 318 shares of the company’s stock worth $37,000 after acquiring an additional 224 shares during the period. Finally, R Squared Ltd purchased a new position in Chord Energy during the fourth quarter valued at approximately $51,000. 97.76% of the stock is owned by institutional investors.

Chord Energy Price Performance

Chord Energy stock opened at $94.43 on Friday. Chord Energy Co. has a 52-week low of $79.83 and a 52-week high of $188.02. The company has a market cap of $5.62 billion, a price-to-earnings ratio of 4.86, a PEG ratio of 5.83 and a beta of 0.96. The firm’s fifty day moving average is $104.89 and its 200 day moving average is $117.26. The company has a quick ratio of 0.89, a current ratio of 0.93 and a debt-to-equity ratio of 0.10.

Chord Energy Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 26th. Investors of record on Tuesday, March 11th were issued a $1.30 dividend. This is an increase from Chord Energy’s previous quarterly dividend of $1.25. The ex-dividend date of this dividend was Tuesday, March 11th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 5.51%. Chord Energy’s dividend payout ratio (DPR) is presently 32.62%.

Analyst Ratings Changes

CHRD has been the topic of a number of analyst reports. Morgan Stanley set a $139.00 target price on shares of Chord Energy and gave the company a “cautious” rating in a research note on Wednesday, March 26th. Williams Trading set a $155.00 price objective on Chord Energy in a research note on Wednesday, March 5th. Piper Sandler decreased 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. Wells Fargo & Company dropped their price target on Chord Energy from $166.00 to $158.00 and set an “overweight” rating for the company in a research note on Tuesday. Finally, Citigroup reduced their price objective on shares of Chord Energy from $135.00 to $120.00 and set a “buy” rating on the stock in a research report on Monday, April 7th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $157.00.

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.