Bank of Montreal Can Trims Stake in Chord Energy Co. (NASDAQ:CHRD)

Bank of Montreal Can cut its position in shares of Chord Energy Co. (NASDAQ:CHRD - Free Report) by 70.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 11,126 shares of the company's stock after selling 26,447 shares during the period. Bank of Montreal Can's holdings in Chord Energy were worth $1,301,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Brooklyn Investment Group purchased a new stake in shares of Chord Energy during the fourth quarter valued at $29,000. Twin Tree Management LP purchased a new stake in Chord Energy in the 4th quarter valued at about $33,000. Larson Financial Group LLC grew its stake in Chord Energy by 238.3% in the 4th quarter. Larson Financial Group LLC now owns 318 shares of the company's stock worth $37,000 after acquiring an additional 224 shares in the last quarter. R Squared Ltd purchased a new position in shares of Chord Energy during the fourth quarter worth approximately $51,000. Finally, Venturi Wealth Management LLC raised its stake in shares of Chord Energy by 1,751.9% during the fourth quarter. Venturi Wealth Management LLC now owns 500 shares of the company's stock valued at $58,000 after acquiring an additional 473 shares in the last quarter. 97.76% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. Williams Trading set a $155.00 price objective on Chord Energy in a report on Wednesday, March 5th. Truist Financial raised their target price on shares of Chord Energy from $185.00 to $186.00 and gave the company a "buy" rating in a research report on Monday, January 13th. Wells Fargo & Company reduced their price target on shares of Chord Energy from $166.00 to $158.00 and set an "overweight" rating for the company in a report on Tuesday, April 15th. Morgan Stanley set a $139.00 price objective on shares of Chord Energy and gave the company a "cautious" rating in a report on Wednesday, March 26th. Finally, Piper Sandler lowered their target price on Chord Energy from $184.00 to $183.00 and set an "overweight" rating for the company in a report on Tuesday. One analyst has rated the stock with a sell rating, two have assigned a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $156.92.

Chord Energy Stock Up 0.0 %

NASDAQ CHRD traded up $0.03 during trading on Wednesday, hitting $94.32. The company's stock had a trading volume of 108,324 shares, compared to its average volume of 917,973. Chord Energy Co. has a fifty-two week low of $79.83 and a fifty-two week high of $188.02. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.93 and a quick ratio of 0.89. The company has a market cap of $5.61 billion, a PE ratio of 4.86, a P/E/G ratio of 5.83 and a beta of 0.96. The business's 50 day simple moving average is $103.78 and its 200-day simple moving average is $116.24.

Chord Energy Increases Dividend

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

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.