Boothbay Fund Management LLC Boosts Stock Position in Chord Energy Co. (NASDAQ:CHRD)

Boothbay Fund Management LLC grew its stake in shares of Chord Energy Co. (NASDAQ:CHRD - Free Report) by 47.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 18,259 shares of the company's stock after buying an additional 5,910 shares during the period. Boothbay Fund Management LLC's holdings in Chord Energy were worth $2,135,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Natixis Advisors LLC bought a new stake in Chord Energy during the 4th quarter valued at approximately $1,191,000. JPMorgan Chase & Co. raised its stake in Chord Energy by 3.3% during the 4th quarter. JPMorgan Chase & Co. now owns 263,288 shares of the company's stock valued at $30,784,000 after purchasing an additional 8,455 shares during the period. Merit Financial Group LLC bought a new stake in Chord Energy during the 4th quarter valued at approximately $553,000. Kingsview Wealth Management LLC raised its stake in Chord Energy by 55.3% during the 4th quarter. Kingsview Wealth Management LLC now owns 21,744 shares of the company's stock valued at $2,542,000 after purchasing an additional 7,743 shares during the period. Finally, Arkfeld Wealth Strategies L.L.C. raised its stake in Chord Energy by 3.5% during the 4th 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 during the period. Institutional investors own 97.76% of the company's stock.

Analyst Ratings Changes

CHRD has been the topic of several recent analyst reports. Wells Fargo & Company decreased their target price on Chord Energy from $166.00 to $158.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 15th. Royal Bank of Canada reduced their price objective on Chord Energy from $165.00 to $145.00 and set an "outperform" rating on the stock in a research note on Friday, April 11th. Morgan Stanley set a $139.00 price objective on Chord Energy and gave the stock a "cautious" rating in a research note on Wednesday, March 26th. Truist Financial lifted their price objective on Chord Energy from $185.00 to $186.00 and gave the stock a "buy" rating in a research note on Monday, January 13th. Finally, Piper Sandler reduced their price objective on Chord Energy from $184.00 to $183.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 22nd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $156.92.

Chord Energy Stock Performance

Shares of Chord Energy stock opened at $94.62 on Monday. Chord Energy Co. has a 52 week low of $79.83 and a 52 week high of $188.02. The company has a market capitalization of $5.63 billion, a PE ratio of 4.87, a price-to-earnings-growth ratio of 5.83 and a beta of 0.96. The stock's fifty day moving average is $102.43 and its two-hundred day moving average is $115.10. 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 Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 26th. Investors of record on Tuesday, March 11th were paid a $1.30 dividend. This represents a $5.20 annualized dividend and a yield of 5.50%. The ex-dividend date of this dividend was Tuesday, March 11th. This is an increase from Chord Energy's previous quarterly dividend of $1.25. Chord Energy's dividend payout ratio (DPR) is currently 32.62%.

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.

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