Envestnet Asset Management Inc. Trims Stock Holdings in Chord Energy Co. (NASDAQ:CHRD)

Envestnet Asset Management Inc. trimmed its position in shares of Chord Energy Co. (NASDAQ:CHRD) by 39.7% during the 4th quarter, Holdings Channel reports. The firm owned 84,711 shares of the company’s stock after selling 55,725 shares during the period. Envestnet Asset Management Inc.’s holdings in Chord Energy were worth $9,904,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the business. Delta Capital Management LLC raised its holdings in Chord Energy by 4.3% in the fourth quarter. Delta Capital Management LLC now owns 2,200 shares of the company’s stock worth $257,000 after purchasing an additional 90 shares in the last quarter. Gables Capital Management Inc. lifted its stake in shares of Chord Energy by 6.9% during the fourth quarter. Gables Capital Management Inc. now owns 1,550 shares of the company’s stock worth $181,000 after buying an additional 100 shares during the period. Envestnet Portfolio Solutions Inc. grew its stake in Chord Energy by 2.9% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 3,710 shares of the company’s stock valued at $434,000 after purchasing an additional 106 shares during the last quarter. Exchange Traded Concepts LLC boosted its position in Chord Energy by 1.8% in the fourth quarter. Exchange Traded Concepts LLC now owns 6,145 shares of the company’s stock valued at $718,000 after buying an additional 110 shares during the last quarter. Finally, Blue Trust Inc. increased its stake in shares of Chord Energy by 4.0% in the fourth quarter. Blue Trust Inc. now owns 3,334 shares of the company’s stock worth $390,000 after acquiring an additional 128 shares during the period. 97.76% of the stock is currently owned by hedge funds and other institutional investors.

Chord Energy Price Performance

CHRD stock opened at $94.43 on Friday. The company has a market capitalization of $5.62 billion, a PE ratio of 4.86, a P/E/G ratio of 5.83 and a beta of 0.96. 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 business’s fifty day moving average price is $104.52 and its 200 day moving average price is $117.02. Chord Energy Co. has a 12-month low of $79.83 and a 12-month high of $188.02.

Chord Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 26th. Investors of record on Tuesday, March 11th were issued a $1.30 dividend. The ex-dividend date of this dividend was Tuesday, March 11th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 5.51%. This is a boost from Chord Energy’s previous quarterly dividend of $1.25. Chord Energy’s payout ratio is 32.62%.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. Morgan Stanley set a $139.00 target price on Chord Energy and gave the stock a “cautious” rating in a report on Wednesday, March 26th. Royal Bank of Canada cut their target price on shares of Chord Energy from $165.00 to $145.00 and set an “outperform” rating for the company in a research note on Friday, April 11th. Bank of America decreased their price objective on Chord Energy from $138.00 to $125.00 and set a “neutral” rating on the stock in a report on Tuesday, April 1st. Citigroup lowered their target price on Chord Energy from $135.00 to $120.00 and set a “buy” rating on the stock in a report on Monday, April 7th. Finally, Wells Fargo & Company lowered their price target on shares of Chord Energy from $166.00 to $158.00 and set an “overweight” rating on the stock in a research report on Tuesday. One analyst has rated the stock with a sell rating, two have assigned a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Chord Energy presently has a consensus rating of “Moderate Buy” and a consensus target price of $157.00.

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.