Blue Trust Inc. Reduces Stake in Chord Energy Co. (NASDAQ:CHRD)

Blue Trust Inc. trimmed its position in Chord Energy Co. (NASDAQ:CHRD) by 65.4% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,109 shares of the company’s stock after selling 2,097 shares during the period. Blue Trust Inc.’s holdings in Chord Energy were worth $130,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of CHRD. Stone House Investment Management LLC purchased a new position in Chord Energy during the third quarter valued at $26,000. Brooklyn Investment Group purchased a new position in shares of Chord Energy during the 4th quarter valued at about $29,000. Fortitude Family Office LLC purchased a new position in shares of Chord Energy during the 3rd quarter valued at about $47,000. R Squared Ltd purchased a new position in Chord Energy during the fourth quarter valued at approximately $51,000. Finally, Union Bancaire Privee UBP SA purchased a new position in Chord Energy during the fourth quarter valued at approximately $77,000. 97.76% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

CHRD has been the topic of a number of analyst reports. UBS Group lowered their target price on shares of Chord Energy from $168.00 to $161.00 and set a “buy” rating on the stock in a research note on Monday, December 9th. Royal Bank of Canada lowered their price target on Chord Energy from $185.00 to $180.00 and set an “outperform” rating on the stock in a report on Wednesday, November 20th. Mizuho lowered their price target on Chord Energy from $192.00 to $178.00 and set an “outperform” rating on the stock in a report on Monday, December 16th. Wells Fargo & Company lowered their price target on Chord Energy from $176.00 to $175.00 and set an “overweight” rating on the stock in a report on Wednesday, January 15th. Finally, Wolfe Research raised shares of 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. Three analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Chord Energy currently has an average rating of “Moderate Buy” and an average price target of $173.08.

Insider Activity

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

Chord Energy Trading Down 3.5 %

Shares of CHRD stock opened at $111.68 on Friday. The stock’s 50 day simple moving average is $116.50 and its two-hundred day simple moving average is $128.18. Chord Energy Co. has a 1 year low of $107.24 and a 1 year high of $190.23. The company has a market cap of $6.83 billion, a PE ratio of 5.75, a price-to-earnings-growth ratio of 5.77 and a beta of 0.98. 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 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 paid a $1.25 dividend. This represents a $5.00 annualized dividend and a dividend yield of 4.48%. The ex-dividend date was Wednesday, November 27th. Chord Energy’s dividend payout ratio is currently 25.75%.

Chord Energy 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.