Chord Energy Co. (NASDAQ:CHRD) is Western Asset Management Company LLC’s 9th Largest Position

Western Asset Management Company LLC trimmed its position in shares of Chord Energy Co. (NASDAQ:CHRD) by 10.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,760 shares of the company’s stock after selling 1,800 shares during the period. Chord Energy makes up 2.7% of Western Asset Management Company LLC’s portfolio, making the stock its 9th biggest position. Western Asset Management Company LLC’s holdings in Chord Energy were worth $1,726,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in CHRD. California Public Employees Retirement System raised its position in shares of Chord Energy by 2.1% in the 4th quarter. California Public Employees Retirement System now owns 107,404 shares of the company’s stock valued at $12,558,000 after purchasing an additional 2,172 shares in the last quarter. Orion Portfolio Solutions LLC increased its stake in shares of Chord Energy by 12.2% in the fourth quarter. Orion Portfolio Solutions LLC now owns 7,529 shares of the company’s stock worth $880,000 after buying an additional 817 shares during the last quarter. New Age Alpha Advisors LLC bought a new position in Chord Energy during the 4th quarter valued at $1,564,000. JPMorgan Chase & Co. grew its holdings in Chord Energy by 3.3% during the 4th quarter. JPMorgan Chase & Co. now owns 263,288 shares of the company’s stock worth $30,784,000 after acquiring an additional 8,455 shares in the last quarter. Finally, Segall Bryant & Hamill LLC increased its position in shares of Chord Energy by 11.5% in the 4th quarter. Segall Bryant & Hamill LLC now owns 95,643 shares of the company’s stock worth $11,183,000 after purchasing an additional 9,897 shares during the last quarter. Hedge funds and other institutional investors own 97.76% of the company’s stock.

Chord Energy Stock Performance

CHRD opened at $111.73 on Friday. Chord Energy Co. has a 1-year low of $99.40 and a 1-year high of $190.23. The company has a market capitalization of $6.65 billion, a price-to-earnings ratio of 5.75, a price-to-earnings-growth ratio of 5.83 and a beta of 0.98. The business has a 50 day moving average price of $111.53 and a two-hundred day moving average price of $121.24. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.93 and a quick ratio of 0.89.

Chord Energy Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 26th. Stockholders of record on Tuesday, March 11th were issued a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a dividend yield of 4.65%. This is an increase 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 currently 32.62%.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. Williams Trading set a $155.00 price target on shares of Chord Energy in a research report on Wednesday, March 5th. Truist Financial increased their target price on Chord Energy from $185.00 to $186.00 and gave the stock a “buy” rating in a report on Monday, January 13th. UBS Group lowered their price target on Chord Energy from $168.00 to $161.00 and set a “buy” rating for the company in a report on Monday, December 9th. Wells Fargo & Company reduced their price objective on Chord Energy from $175.00 to $166.00 and set an “overweight” rating on the stock in a research note on Monday, March 24th. Finally, Piper Sandler decreased their price objective on shares of Chord Energy from $193.00 to $184.00 and set an “overweight” rating for the company in a report on Thursday, March 6th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $162.46.

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.