Invesco Ltd. Sells 195,980 Shares of Chord Energy Co. (NASDAQ:CHRD)

Invesco Ltd. decreased its stake in shares of Chord Energy Co. (NASDAQ:CHRD - Free Report) by 38.3% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 315,141 shares of the company's stock after selling 195,980 shares during the period. Invesco Ltd. owned 0.52% of Chord Energy worth $36,846,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the stock. Polymer Capital Management US LLC bought a new stake in Chord Energy in the 4th quarter valued at about $226,000. FMR LLC grew its position in Chord Energy by 11.5% during the 4th quarter. FMR LLC now owns 3,814,384 shares of the company's stock worth $445,978,000 after acquiring an additional 394,372 shares during the last quarter. Aster Capital Management DIFC Ltd raised its holdings in Chord Energy by 1,280.1% in the 4th quarter. Aster Capital Management DIFC Ltd now owns 7,715 shares of the company's stock valued at $902,000 after buying an additional 7,156 shares during the last quarter. Aviva PLC bought a new position in shares of Chord Energy during the fourth quarter valued at $574,000. Finally, Dynamic Technology Lab Private Ltd acquired a new position in Chord Energy during the 4th quarter worth about $308,000. 97.76% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have recently commented on CHRD. Wolfe Research raised shares of Chord Energy from a "peer perform" rating to an "outperform" rating and set a $155.00 price objective on the stock in a research note on Friday, January 3rd. Truist Financial boosted their price objective on Chord Energy from $185.00 to $186.00 and gave the company a "buy" rating in a report on Monday, January 13th. Royal Bank of Canada cut their price target on Chord Energy from $165.00 to $145.00 and set an "outperform" rating for the company in a research note on Friday, April 11th. Piper Sandler reduced their target price on shares of Chord Energy from $184.00 to $183.00 and set an "overweight" rating for the company in a research note on Tuesday. Finally, Williams Trading set a $155.00 price target on Chord Energy in a report on Wednesday, March 5th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Chord Energy currently has a consensus rating of "Moderate Buy" and a consensus price target of $156.92.

Chord Energy Trading Up 1.6 %

CHRD stock traded up $1.45 during trading on Tuesday, hitting $94.29. 496,320 shares of the company traded hands, compared to its average volume of 971,264. The firm has a market capitalization of $5.61 billion, a PE ratio of 4.86, a P/E/G ratio of 5.83 and a beta of 0.96. Chord Energy Co. has a 1 year low of $79.83 and a 1 year high of $188.02. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.89 and a current ratio of 0.93. The company has a 50-day moving average of $103.78 and a 200-day moving average of $116.24.

Chord Energy Increases Dividend

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