State of Tennessee Department of Treasury Sells 582 Shares of Chord Energy Co. (NASDAQ:CHRD)

State of Tennessee Department of Treasury cut its holdings in shares of Chord Energy Co. (NASDAQ:CHRD) by 2.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,633 shares of the company’s stock after selling 582 shares during the quarter. State of Tennessee Department of Treasury’s holdings in Chord Energy were worth $2,412,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. FMR LLC lifted its holdings in Chord Energy by 11.5% during the 4th quarter. FMR LLC now owns 3,814,384 shares of the company’s stock worth $445,978,000 after purchasing an additional 394,372 shares during the last quarter. Victory Capital Management Inc. lifted its holdings in Chord Energy by 27.6% during the 4th quarter. Victory Capital Management Inc. now owns 2,864,456 shares of the company’s stock worth $334,912,000 after buying an additional 619,021 shares during the period. Boston Partners lifted its holdings in Chord Energy by 5.6% during the 4th quarter. Boston Partners now owns 2,186,483 shares of the company’s stock worth $255,684,000 after buying an additional 115,215 shares during the period. Pacer Advisors Inc. lifted its stake in Chord Energy by 50.4% in the fourth quarter. Pacer Advisors Inc. now owns 1,872,156 shares of the company’s stock valued at $218,892,000 after buying an additional 627,122 shares during the period. Finally, American Century Companies Inc. increased its stake in shares of Chord Energy by 15.0% in the 4th quarter. American Century Companies Inc. now owns 1,116,073 shares of the company’s stock valued at $130,491,000 after acquiring an additional 145,627 shares in the last quarter. Institutional investors and hedge funds own 97.76% of the company’s stock.

Chord Energy Trading Up 0.3 %

Shares of CHRD stock opened at $94.91 on Tuesday. 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 12-month low of $79.83 and a 12-month high of $188.02. The stock has a market capitalization of $5.65 billion, a P/E ratio of 4.89, a P/E/G ratio of 5.83 and a beta of 0.96. The firm’s 50 day moving average is $102.04 and its 200 day moving average is $114.83.

Chord Energy Increases Dividend

The business also recently declared 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. This represents a $5.20 annualized dividend and a yield of 5.48%. The ex-dividend date of this dividend was Tuesday, March 11th. This is a positive change from Chord Energy’s previous quarterly dividend of $1.25. Chord Energy’s payout ratio is currently 32.62%.

Wall Street Analyst Weigh In

CHRD has been the subject of several research reports. Wells Fargo & Company reduced their price target on shares of Chord Energy from $166.00 to $158.00 and set an “overweight” rating for the company in a research report on Tuesday, April 15th. Williams Trading set a $155.00 price target on Chord Energy in a research report on Wednesday, March 5th. Truist Financial raised their target price on shares of Chord Energy from $185.00 to $186.00 and gave the company a “buy” rating in a research note on Monday, January 13th. 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 report on Tuesday, April 1st. Finally, Citigroup decreased their target price 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 investment analyst has rated the stock with a sell rating, two have issued a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $156.92.

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.