Proficio Capital Partners LLC Invests $3.54 Million in Chord Energy Co. (NASDAQ:CHRD)

Proficio Capital Partners LLC acquired a new stake in shares of Chord Energy Co. (NASDAQ:CHRD) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 30,277 shares of the company’s stock, valued at approximately $3,540,000.

A number of other large investors have also made changes to their positions in the stock. M&T Bank Corp purchased a new stake in Chord Energy in the fourth quarter valued at $1,004,000. Victory Capital Management Inc. raised its position 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 purchasing an additional 619,021 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Chord Energy by 8.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 497,073 shares of the company’s stock valued at $58,118,000 after acquiring an additional 39,401 shares in the last quarter. SBI Securities Co. Ltd. acquired a new stake in shares of Chord Energy in the 4th quarter valued at $99,000. Finally, Factorial Partners LLC raised its stake in Chord Energy by 85.5% in the fourth quarter. Factorial Partners LLC now owns 51,000 shares of the company’s stock valued at $5,963,000 after buying an additional 23,500 shares in the last quarter. 97.76% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on CHRD shares. Morgan Stanley assumed coverage on Chord Energy in a research note on Friday, January 10th. They set an “equal weight” rating and a $158.00 price target for the company. 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 research report on Thursday, March 6th. Truist Financial upped their price target on shares of Chord Energy from $185.00 to $186.00 and gave the company a “buy” rating in a report on Monday, January 13th. Bank of America reissued a “neutral” rating and issued a $138.00 target price (down previously from $208.00) on shares of Chord Energy in a research note on Monday, January 13th. Finally, Wolfe Research raised shares of Chord Energy from a “peer perform” rating to an “outperform” rating and set a $155.00 price objective for the company in a research note on Friday, January 3rd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $164.62.

Chord Energy Stock Performance

NASDAQ:CHRD opened at $107.63 on Tuesday. Chord Energy Co. has a 1 year low of $99.40 and a 1 year 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 firm has a market capitalization of $6.42 billion, a PE ratio of 5.54, a PEG ratio of 5.83 and a beta of 0.98. The firm’s fifty day simple moving average is $114.24 and its 200 day simple moving average is $123.16.

Chord Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 26th. Stockholders of record on Tuesday, March 11th will be given a dividend of $1.30 per share. The ex-dividend date of this dividend is Tuesday, March 11th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.83%. This is a positive change from Chord Energy’s previous quarterly dividend of $1.25. Chord Energy’s dividend payout ratio 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.