HighTower Advisors LLC Lowers Holdings in Chord Energy Co. (NASDAQ:CHRD)

HighTower Advisors LLC lowered its position in shares of Chord Energy Co. (NASDAQ:CHRD) by 2.0% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 6,686 shares of the company’s stock after selling 135 shares during the period. HighTower Advisors LLC’s holdings in Chord Energy were worth $782,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Delta Capital Management LLC lifted its position in shares of Chord Energy by 4.3% in the 4th quarter. Delta Capital Management LLC now owns 2,200 shares of the company’s stock worth $257,000 after purchasing an additional 90 shares during the period. Commerce Bank increased its position in shares of Chord Energy by 4.3% during the third quarter. Commerce Bank now owns 2,361 shares of the company’s stock worth $307,000 after purchasing an additional 98 shares in the last quarter. Gables Capital Management Inc. lifted its holdings in shares of Chord Energy by 6.9% during the 4th quarter. Gables Capital Management Inc. now owns 1,550 shares of the company’s stock valued at $181,000 after purchasing an additional 100 shares during the last quarter. Exchange Traded Concepts LLC boosted its position in shares of Chord Energy by 1.8% in the 4th quarter. Exchange Traded Concepts LLC now owns 6,145 shares of the company’s stock worth $718,000 after purchasing an additional 110 shares in the last quarter. Finally, Blue Trust Inc. grew its stake in Chord Energy by 4.0% during the 4th quarter. Blue Trust Inc. now owns 3,334 shares of the company’s stock worth $390,000 after buying an additional 128 shares during the last quarter. 97.76% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on CHRD shares. Bank of America restated a “neutral” rating and set a $138.00 price target (down previously from $208.00) on shares of Chord Energy in a research note on Monday, January 13th. Truist Financial raised their price target on shares of Chord Energy from $185.00 to $186.00 and gave the stock a “buy” rating in a report on Monday, January 13th. Citigroup lowered shares of Chord Energy to a “reduce” rating in a report on Wednesday, March 5th. UBS Group reduced their target price on Chord Energy from $168.00 to $161.00 and set a “buy” rating for the company in a research note on Monday, December 9th. Finally, Piper Sandler dropped their price target on Chord Energy from $193.00 to $184.00 and set an “overweight” rating on the stock in a research note on Thursday, March 6th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $162.46.

Chord Energy Price Performance

NASDAQ:CHRD opened at $112.14 on Friday. 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 Co. has a 52 week low of $99.40 and a 52 week high of $190.23. The stock’s 50-day moving average price is $111.82 and its 200-day moving average price is $121.46. The stock has a market capitalization of $6.67 billion, a PE ratio of 5.77, a price-to-earnings-growth ratio of 5.83 and a beta of 0.98.

Chord Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 26th. Stockholders of record on Tuesday, March 11th were given a $1.30 dividend. The ex-dividend date 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 4.64%. Chord Energy’s payout ratio is 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.