Empowered Funds LLC Reduces Stake in Chord Energy Co. (NASDAQ:CHRD)

Empowered Funds LLC reduced its position in Chord Energy Co. (NASDAQ:CHRD) by 5.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 29,018 shares of the company’s stock after selling 1,807 shares during the period. Empowered Funds LLC’s holdings in Chord Energy were worth $3,393,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Victory Capital Management Inc. boosted its stake in shares of Chord Energy by 41.3% in the 3rd quarter. Victory Capital Management Inc. now owns 2,245,435 shares of the company’s stock worth $292,423,000 after buying an additional 656,374 shares during the last quarter. Merit Financial Group LLC purchased a new position in shares of Chord Energy in the 4th quarter worth $553,000. Geode Capital Management LLC boosted its stake in shares of Chord Energy by 3.0% in 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 during the last quarter. Arkfeld Wealth Strategies L.L.C. lifted its position in Chord Energy by 3.5% during the fourth quarter. Arkfeld Wealth Strategies L.L.C. now owns 92,211 shares of the company’s stock valued at $11,596,000 after purchasing an additional 3,151 shares in the last quarter. Finally, Foundry Partners LLC lifted its position in Chord Energy by 22.7% during the third quarter. Foundry Partners LLC now owns 52,009 shares of the company’s stock valued at $6,773,000 after purchasing an additional 9,613 shares in the last quarter. 97.76% of the stock is currently owned by hedge funds and other institutional investors.

Chord Energy Trading Down 4.1 %

Shares of CHRD stock opened at $109.67 on Thursday. Chord Energy Co. has a 12-month low of $107.24 and a 12-month high of $190.23. The company has a current ratio of 0.93, a quick ratio of 0.89 and a debt-to-equity ratio of 0.10. The stock’s 50-day moving average price is $117.47 and its 200-day moving average price is $130.46. The stock has a market capitalization of $6.70 billion, a price-to-earnings ratio of 5.65, a price-to-earnings-growth ratio of 5.46 and a beta of 0.98.

Chord Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Wednesday, November 27th were issued a $1.25 dividend. The ex-dividend date was Wednesday, November 27th. This represents a $5.00 annualized dividend and a dividend yield of 4.56%. Chord Energy’s dividend payout ratio (DPR) is 25.75%.

Insider Transactions at Chord Energy

In other Chord Energy news, CAO Shannon Browning Kinney sold 1,000 shares of the business’s stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $121.27, for a total transaction of $121,270.00. Following the sale, the chief accounting officer now directly owns 20,488 shares of the company’s stock, valued at $2,484,579.76. The trade was a 4.65 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.70% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the company. Morgan Stanley assumed coverage on Chord Energy in a research report on Friday, January 10th. They set an “equal weight” rating and a $158.00 target price on the stock. Truist Financial lifted their target price on Chord Energy from $185.00 to $186.00 and gave the company a “buy” rating in a research report on Monday, January 13th. Royal Bank of Canada lowered their target price on Chord Energy from $185.00 to $180.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 20th. Piper Sandler lowered their target price on Chord Energy from $194.00 to $193.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 15th. Finally, Mizuho lowered their price objective on Chord Energy from $192.00 to $178.00 and set an “outperform” rating on the stock in a research report on Monday, December 16th. Three analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Chord Energy presently has an average rating of “Moderate Buy” and an average price target of $173.08.

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.