Chord Energy Co. (NASDAQ:CHRD) Shares Sold by Securian Asset Management Inc.

Securian Asset Management Inc. lowered its stake in shares of Chord Energy Co. (NASDAQ:CHRD) by 4.0% in the fourth quarter, Holdings Channel reports. The institutional investor owned 4,621 shares of the company’s stock after selling 191 shares during the quarter. Securian Asset Management Inc.’s holdings in Chord Energy were worth $540,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. FMR LLC increased its holdings in shares of Chord Energy by 2.2% in the 3rd quarter. FMR LLC now owns 3,420,012 shares of the company’s stock valued at $445,388,000 after acquiring an additional 74,165 shares during the last quarter. Victory Capital Management Inc. increased its stake in shares of Chord Energy by 27.6% in the fourth quarter. Victory Capital Management Inc. now owns 2,864,456 shares of the company’s stock valued at $334,912,000 after purchasing an additional 619,021 shares during the period. State Street Corp increased its position in Chord Energy by 0.9% in the 3rd quarter. State Street Corp now owns 2,485,777 shares of the company’s stock valued at $323,723,000 after acquiring an additional 22,753 shares during the period. Pacer Advisors Inc. increased its holdings in shares of Chord Energy by 50.4% during the fourth quarter. Pacer Advisors Inc. now owns 1,872,156 shares of the company’s stock valued at $218,892,000 after purchasing an additional 627,122 shares during the period. Finally, Geode Capital Management LLC raised its position in shares of Chord Energy by 3.0% during the 3rd quarter. Geode Capital Management LLC now owns 1,162,442 shares of the company’s stock worth $151,077,000 after buying an additional 34,156 shares in the last quarter. 97.76% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have recently commented on CHRD. Morgan Stanley began coverage on Chord Energy in a research note on Friday, January 10th. They issued an “equal weight” rating and a $158.00 price objective on the stock. Mizuho decreased their price objective on shares of Chord Energy from $192.00 to $178.00 and set an “outperform” rating for the company in a research note on Monday, December 16th. Williams Trading set a $155.00 price objective on Chord Energy in a research report on Wednesday, March 5th. Wells Fargo & Company lowered their price target on shares of Chord Energy from $176.00 to $175.00 and set an “overweight” rating on the stock in a report on Wednesday, January 15th. Finally, Piper Sandler dropped their price objective on Chord Energy from $193.00 to $184.00 and set an “overweight” rating on the stock in a report on Thursday, March 6th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $164.62.

Chord Energy Stock Performance

CHRD opened at $107.63 on Tuesday. Chord Energy Co. has a 12-month low of $99.40 and a 12-month high of $190.23. The firm has a market capitalization of $6.42 billion, a P/E ratio of 5.54, a price-to-earnings-growth ratio of 5.83 and a beta of 0.98. The stock’s 50 day moving average price is $114.24 and its two-hundred day moving average price is $123.16. The company has a quick ratio of 0.89, a current ratio of 0.93 and a debt-to-equity ratio of 0.10.

Chord Energy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 26th. Investors of record on Tuesday, March 11th will be paid a dividend of $1.30 per share. This is a boost from Chord Energy’s previous quarterly dividend of $1.25. This represents a $5.20 annualized dividend and a yield of 4.83%. The ex-dividend date is Tuesday, March 11th. Chord Energy’s dividend payout ratio is presently 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.