Korea Investment CORP Cuts Stake in Chord Energy Co. (NASDAQ:CHRD)

Korea Investment CORP lessened its stake in Chord Energy Co. (NASDAQ:CHRD) by 18.2% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 17,022 shares of the company’s stock after selling 3,800 shares during the quarter. Korea Investment CORP’s holdings in Chord Energy were worth $1,990,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Townsquare Capital LLC lifted its position in shares of Chord Energy by 55.7% in 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 in the last quarter. Benjamin Edwards Inc. increased its stake in Chord Energy by 61.3% in the 3rd quarter. Benjamin Edwards Inc. now owns 3,117 shares of the company’s stock worth $407,000 after acquiring an additional 1,184 shares during the last quarter. Ascent Group LLC purchased a new stake in shares of Chord Energy during the 3rd quarter worth approximately $2,028,000. Centiva Capital LP bought a new position in shares of Chord Energy during the 3rd quarter valued at approximately $2,557,000. Finally, HighTower Advisors LLC increased its position in Chord Energy by 58.7% in the third quarter. HighTower Advisors LLC now owns 6,821 shares of the company’s stock worth $899,000 after purchasing an additional 2,522 shares during the last quarter. 97.76% of the stock is owned by hedge funds and other institutional investors.

Chord Energy Trading Down 0.1 %

NASDAQ CHRD opened at $112.63 on Wednesday. Chord Energy Co. has a one year low of $99.40 and a one year high of $190.23. 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 company has a market capitalization of $6.70 billion, a price-to-earnings ratio of 5.80, a price-to-earnings-growth ratio of 5.83 and a beta of 0.98. The company’s 50-day simple moving average is $111.25 and its two-hundred day simple moving average is $121.02.

Chord Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 26th. Investors of record on Tuesday, March 11th were issued a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a yield of 4.62%. This is a positive change from Chord Energy’s previous quarterly dividend of $1.25. The ex-dividend date of this dividend was Tuesday, March 11th. Chord Energy’s dividend payout ratio (DPR) is presently 32.62%.

Wall Street Analyst Weigh In

CHRD has been the subject of a number of recent research reports. Williams Trading set a $155.00 price objective on shares of Chord Energy in a research note on Wednesday, March 5th. Bank of America dropped their price objective on shares of Chord Energy from $138.00 to $125.00 and set a “neutral” rating for the company in a research note on Tuesday. UBS Group cut their target price on Chord Energy from $168.00 to $161.00 and set a “buy” rating on the stock in a research note on Monday, December 9th. Wolfe Research raised Chord Energy from a “peer perform” rating to an “outperform” rating and set a $155.00 price target for the company in a research note on Friday, January 3rd. Finally, Truist Financial upped their price objective on Chord Energy from $185.00 to $186.00 and gave the company a “buy” rating in a research report on Monday, January 13th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $161.46.

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.