Dimensional Fund Advisors LP Trims Stake in Chord Energy Co. (NASDAQ:CHRD)

Dimensional Fund Advisors LP lowered its position in Chord Energy Co. (NASDAQ:CHRD - Free Report) by 20.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,151,245 shares of the company's stock after selling 299,633 shares during the period. Dimensional Fund Advisors LP owned about 1.88% of Chord Energy worth $134,592,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of CHRD. Delta Capital Management LLC grew its stake in shares of Chord Energy by 4.3% during the 4th quarter. Delta Capital Management LLC now owns 2,200 shares of the company's stock valued at $257,000 after purchasing an additional 90 shares during the period. Gables Capital Management Inc. grew its position in Chord Energy by 6.9% during the fourth quarter. Gables Capital Management Inc. now owns 1,550 shares of the company's stock valued at $181,000 after buying an additional 100 shares during the period. Envestnet Portfolio Solutions Inc. increased its holdings in Chord Energy by 2.9% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 3,710 shares of the company's stock valued at $434,000 after buying an additional 106 shares during the last quarter. Exchange Traded Concepts LLC increased its holdings in Chord Energy by 1.8% during 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. raised its position in 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. Hedge funds and other institutional investors own 97.76% of the company's stock.

Chord Energy Trading Up 1.4 %

CHRD traded up $1.27 on Thursday, hitting $91.50. The company had a trading volume of 199,164 shares, compared to its average volume of 971,201. The business's fifty day simple moving average is $101.17 and its 200 day simple moving average is $114.52. 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 Co. has a 12-month low of $79.83 and a 12-month high of $188.02. The company has a market cap of $5.44 billion, a PE ratio of 4.73, a PEG ratio of 5.83 and a beta of 0.96.

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 issued a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a yield of 5.68%. The ex-dividend date was Tuesday, March 11th. This is a positive change from Chord Energy's previous quarterly dividend of $1.25. Chord Energy's dividend payout ratio is presently 32.62%.

Wall Street Analysts Forecast Growth

CHRD has been the subject of several recent analyst reports. Williams Trading set a $155.00 target price on shares of Chord Energy in a report on Wednesday, March 5th. Wells Fargo & Company cut their target price on Chord Energy from $166.00 to $158.00 and set an "overweight" rating for the company in a research report on Tuesday, April 15th. Royal Bank of Canada lowered their price target on Chord Energy from $165.00 to $145.00 and set an "outperform" rating on the stock in a report on Friday, April 11th. Piper Sandler cut their price objective on shares of Chord Energy from $184.00 to $183.00 and set an "overweight" rating for the company in a report on Tuesday, April 22nd. Finally, Bank of America raised shares of Chord Energy from a "neutral" rating to a "buy" rating and lowered their target price for the stock from $125.00 to $114.00 in a report on Tuesday. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $156.08.

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.