Chord Energy Co. (NASDAQ:CHRD) Shares Sold by Western Asset Management Company LLC

Western Asset Management Company LLC reduced its position in Chord Energy Co. (NASDAQ:CHRD) by 10.9% during the 4th quarter, HoldingsChannel.com reports. The firm owned 14,760 shares of the company’s stock after selling 1,800 shares during the quarter. Chord Energy makes up about 2.7% of Western Asset Management Company LLC’s investment portfolio, making the stock its 9th largest holding. Western Asset Management Company LLC’s holdings in Chord Energy were worth $1,726,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Pacer Advisors Inc. raised its holdings in Chord Energy by 50.4% in the 4th quarter. Pacer Advisors Inc. now owns 1,872,156 shares of the company’s stock worth $218,892,000 after acquiring an additional 627,122 shares during the period. Victory Capital Management Inc. increased its holdings in Chord Energy by 27.6% in the 4th quarter. Victory Capital Management Inc. now owns 2,864,456 shares of the company’s stock valued at $334,912,000 after buying an additional 619,021 shares during the period. Point72 Asset Management L.P. raised its position in Chord Energy by 143.8% in the third quarter. Point72 Asset Management L.P. now owns 880,787 shares of the company’s stock worth $114,705,000 after purchasing an additional 519,547 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of Chord Energy during the 4th quarter worth approximately $29,984,000. Finally, Allspring Global Investments Holdings LLC lifted its holdings in shares of Chord Energy by 30.1% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 744,309 shares of the company’s stock valued at $88,459,000 after acquiring an additional 172,196 shares during the period. 97.76% of the stock is owned by hedge funds and other institutional investors.

Chord Energy Trading Down 0.4 %

Shares of NASDAQ CHRD opened at $111.73 on Friday. The company’s 50 day simple moving average is $111.53 and its 200 day simple moving average is $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 Co. has a fifty-two week low of $99.40 and a fifty-two week high of $190.23. The firm has a market capitalization of $6.65 billion, a P/E ratio of 5.75, a P/E/G ratio of 5.83 and a beta of 0.98.

Chord Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 26th. Investors of record on Tuesday, March 11th were paid a dividend of $1.30 per share. The ex-dividend date of this dividend was Tuesday, March 11th. This is a boost from Chord Energy’s previous quarterly dividend of $1.25. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.65%. Chord Energy’s payout ratio is 32.62%.

Analysts Set New Price Targets

Several research analysts have recently commented on CHRD shares. 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 report on Friday, January 3rd. Piper Sandler decreased their target price on Chord Energy from $193.00 to $184.00 and set an “overweight” rating on the stock in a report on Thursday, March 6th. Truist Financial lifted their price target on Chord Energy from $185.00 to $186.00 and gave the company a “buy” rating in a report on Monday, January 13th. UBS Group reduced their price target on shares of Chord Energy from $168.00 to $161.00 and set a “buy” rating on the stock in a research report on Monday, December 9th. Finally, Citigroup cut shares of Chord Energy to a “reduce” rating in a research report on Wednesday, March 5th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $162.46.

About Chord Energy

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.