Franklin Resources Inc. Sells 950 Shares of Chord Energy Co. (NASDAQ:CHRD)

Franklin Resources Inc. reduced its stake in Chord Energy Co. (NASDAQ:CHRD) by 3.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,484 shares of the company’s stock after selling 950 shares during the period. Franklin Resources Inc.’s holdings in Chord Energy were worth $3,097,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Brooklyn Investment Group bought a new stake in shares of Chord Energy during the 4th quarter valued at $29,000. Twin Tree Management LP purchased a new position in shares of Chord Energy in the fourth quarter worth $33,000. Larson Financial Group LLC raised its position in Chord Energy by 238.3% in the 4th quarter. Larson Financial Group LLC now owns 318 shares of the company’s stock worth $37,000 after buying an additional 224 shares during the last quarter. R Squared Ltd bought a new position in Chord Energy during the fourth quarter valued at approximately $51,000. Finally, Venturi Wealth Management LLC lifted its holdings in shares of Chord Energy by 1,751.9% during the 4th quarter. Venturi Wealth Management LLC now owns 500 shares of the company’s stock valued at $58,000 after buying an additional 473 shares during the period. 97.76% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. Piper Sandler dropped their price objective on shares of Chord Energy from $193.00 to $184.00 and set an “overweight” rating on the stock in a report on Thursday, March 6th. Wolfe Research raised Chord Energy from a “peer perform” rating to an “outperform” rating and set a $155.00 target price on the stock in a research note on Friday, January 3rd. Royal Bank of Canada dropped their price objective on shares of Chord Energy from $165.00 to $145.00 and set an “outperform” rating for the company in a report on Friday. Bank of America cut their target price 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, Morgan Stanley set a $139.00 price objective on Chord Energy and gave the stock a “cautious” rating in a research note on Wednesday, March 26th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $157.62.

Chord Energy Price Performance

Chord Energy stock opened at $89.34 on Friday. The stock has a market cap of $5.31 billion, a price-to-earnings ratio of 4.60, a price-to-earnings-growth ratio of 5.83 and a beta of 0.96. The firm has a 50-day moving average of $106.10 and a two-hundred day moving average of $118.01. Chord Energy Co. has a 1 year low of $79.83 and a 1 year high of $190.23. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.93 and a quick ratio of 0.89.

Chord Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 26th. Investors of record on Tuesday, March 11th were paid a $1.30 dividend. The ex-dividend date of this dividend was Tuesday, March 11th. This represents a $5.20 annualized dividend and a yield of 5.82%. This is a boost from Chord Energy’s previous quarterly dividend of $1.25. Chord Energy’s dividend payout ratio is 32.62%.

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.