Sanctuary Advisors LLC Buys 1,785 Shares of Chord Energy Co. (NASDAQ:CHRD)

Sanctuary Advisors LLC raised its stake in shares of Chord Energy Co. (NASDAQ:CHRD) by 34.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,926 shares of the company’s stock after purchasing an additional 1,785 shares during the period. Sanctuary Advisors LLC’s holdings in Chord Energy were worth $801,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Allspring Global Investments Holdings LLC grew its stake in Chord Energy by 30.1% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 744,309 shares of the company’s stock valued at $88,459,000 after buying an additional 172,196 shares during the last quarter. Avidian Wealth Enterprises LLC bought a new stake in Chord Energy during the fourth quarter valued at about $602,000. Portfolio Design Labs LLC grew its position in shares of Chord Energy by 32.6% in the fourth quarter. Portfolio Design Labs LLC now owns 29,175 shares of the company’s stock valued at $3,411,000 after purchasing an additional 7,165 shares during the last quarter. Entropy Technologies LP bought a new position in shares of Chord Energy in the fourth quarter worth about $208,000. Finally, Kingsview Wealth Management LLC lifted its position in shares of Chord Energy by 55.3% during the 4th quarter. Kingsview Wealth Management LLC now owns 21,744 shares of the company’s stock worth $2,542,000 after purchasing an additional 7,743 shares during the last quarter. Institutional investors own 97.76% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. Piper Sandler lowered their target price on Chord Energy from $194.00 to $193.00 and set an “overweight” rating on the stock in a report on Wednesday, January 15th. Royal Bank of Canada lowered their price objective on shares of Chord Energy from $185.00 to $180.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 20th. UBS Group cut their target price on shares of Chord Energy from $168.00 to $161.00 and set a “buy” rating for the company in a research note on Monday, December 9th. Truist Financial raised their price target on shares of Chord Energy from $185.00 to $186.00 and gave the stock a “buy” rating in a research report on Monday, January 13th. Finally, Wells Fargo & Company cut their price objective on shares of Chord Energy from $176.00 to $175.00 and set an “overweight” rating for the company in a research report on Wednesday, January 15th. Three investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $169.92.

Insiders Place Their Bets

In other news, CAO Shannon Browning Kinney sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $116.35, for a total transaction of $116,350.00. Following the completion of the sale, the chief accounting officer now owns 19,488 shares of the company’s stock, valued at approximately $2,267,428.80. This trade represents a 4.88 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.70% of the company’s stock.

Chord Energy Stock Up 0.1 %

NASDAQ CHRD opened at $113.46 on Friday. Chord Energy Co. has a 1-year low of $107.24 and a 1-year high of $190.23. The company has a market capitalization of $6.94 billion, a price-to-earnings ratio of 5.84, a PEG ratio of 5.83 and a beta of 0.98. The stock’s 50 day moving average is $116.30 and its two-hundred day moving average is $127.15. 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 Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 26th. Shareholders of record on Tuesday, March 11th will be given a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a yield of 4.58%. 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 31.37%.

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.