Chord Energy Co. (NASDAQ:CHRD) Shares Sold by Russell Investments Group Ltd.

Russell Investments Group Ltd. reduced its holdings in shares of Chord Energy Co. (NASDAQ:CHRD) by 82.7% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 8,923 shares of the company’s stock after selling 42,800 shares during the quarter. Russell Investments Group Ltd.’s holdings in Chord Energy were worth $1,043,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in the business. Aviva PLC acquired a new position in Chord Energy in the fourth quarter valued at approximately $574,000. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Chord Energy during the 4th quarter worth approximately $308,000. Pilgrim Partners Asia Pte Ltd acquired a new position in shares of Chord Energy in the 4th quarter valued at $80,000. Resona Asset Management Co. Ltd. purchased a new position in shares of Chord Energy in the 4th quarter valued at $1,096,000. Finally, World Investment Advisors acquired a new stake in Chord Energy during the 4th quarter worth $226,000. Hedge funds and other institutional investors own 97.76% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on CHRD shares. Wolfe Research raised Chord Energy from a “peer perform” rating to an “outperform” rating and set a $155.00 price objective on the stock in a report on Friday, January 3rd. Bank of America cut their price target on Chord Energy from $138.00 to $125.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 1st. Williams Trading set a $155.00 target price on shares of Chord Energy in a report on Wednesday, March 5th. Truist Financial raised their price objective 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, Morgan Stanley set a $139.00 price target on Chord Energy and gave the company a “cautious” rating in a research report on Wednesday, March 26th. One analyst has rated the stock with a sell rating, two have given a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Chord Energy has a consensus rating of “Moderate Buy” and a consensus target price of $157.00.

Chord Energy Stock Performance

NASDAQ CHRD opened at $92.84 on Tuesday. The business has a 50 day moving average price of $103.78 and a 200 day moving average price of $116.24. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.93 and a quick ratio of 0.89. The company has a market capitalization of $5.52 billion, a P/E ratio of 4.78, a PEG ratio of 5.83 and a beta of 0.96. Chord Energy Co. has a 1-year low of $79.83 and a 1-year high of $188.02.

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 paid a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a yield of 5.60%. This is a boost from Chord Energy’s previous quarterly dividend of $1.25. The ex-dividend date was Tuesday, March 11th. Chord Energy’s dividend payout ratio is presently 32.62%.

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.