Charles Schwab Investment Management Inc. Grows Position in Chord Energy Co. (NASDAQ:CHRD)

Charles Schwab Investment Management Inc. increased its position in shares of Chord Energy Co. (NASDAQ:CHRD) by 8.6% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 497,073 shares of the company’s stock after buying an additional 39,401 shares during the period. Charles Schwab Investment Management Inc. owned about 0.81% of Chord Energy worth $58,118,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in CHRD. Stone House Investment Management LLC purchased a new position in Chord Energy in the third quarter valued at approximately $26,000. Brooklyn Investment Group acquired a new stake in shares of Chord Energy in the fourth quarter valued at approximately $29,000. R Squared Ltd acquired a new stake in shares of Chord Energy in the fourth quarter valued at approximately $51,000. Venturi Wealth Management LLC boosted its holdings in shares of Chord Energy by 1,751.9% in the fourth quarter. Venturi Wealth Management LLC now owns 500 shares of the company’s stock valued at $58,000 after acquiring an additional 473 shares during the period. Finally, Union Bancaire Privee UBP SA acquired a new stake in shares of Chord Energy in the fourth quarter valued at approximately $77,000. 97.76% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, CAO Shannon Browning Kinney sold 1,000 shares of the firm’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $116.35, for a total value of $116,350.00. Following the completion of the transaction, the chief accounting officer now owns 19,488 shares in the company, valued at $2,267,428.80. This trade represents a 4.88 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 0.70% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on CHRD shares. Mizuho decreased their price objective on Chord Energy from $192.00 to $178.00 and set an “outperform” rating for the company in a report on Monday, December 16th. Citigroup downgraded Chord Energy to a “reduce” rating in a report on Wednesday, March 5th. Piper Sandler decreased their price target on Chord Energy from $193.00 to $184.00 and set an “overweight” rating for the company in a report on Thursday, March 6th. Truist Financial increased their price target on Chord Energy from $185.00 to $186.00 and gave the stock a “buy” rating in a report on Monday, January 13th. Finally, Royal Bank of Canada decreased their price target on Chord Energy from $185.00 to $180.00 and set an “outperform” rating for the company in a report on Wednesday, November 20th. One equities 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 issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $164.62.

Chord Energy Price Performance

Chord Energy stock opened at $106.00 on Thursday. Chord Energy Co. has a one year low of $99.40 and a one year high of $190.23. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.89 and a current ratio of 0.93. The business has a fifty day moving average of $115.07 and a two-hundred day moving average of $124.09. The company has a market cap of $6.32 billion, a P/E ratio of 5.46, a price-to-earnings-growth ratio of 5.83 and a beta of 0.98.

Chord Energy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 26th. Stockholders of record on Tuesday, March 11th will be given a $1.30 dividend. The ex-dividend date is Tuesday, March 11th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.91%. This is a boost from Chord Energy’s previous quarterly dividend of $1.25. Chord Energy’s dividend payout ratio (DPR) is currently 32.62%.

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.