Chord Energy Co. (NASDAQ:CHRD) Shares Acquired by Pinebridge Investments L.P.

Pinebridge Investments L.P. boosted its stake in shares of Chord Energy Co. (NASDAQ:CHRD - Free Report) by 42.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 12,613 shares of the company's stock after buying an additional 3,742 shares during the period. Pinebridge Investments L.P.'s holdings in Chord Energy were worth $1,475,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Altshuler Shaham Ltd purchased a new stake in shares of Chord Energy during the 4th quarter worth $25,000. Brooklyn Investment Group purchased a new stake in shares of Chord Energy during the fourth quarter valued at about $29,000. Twin Tree Management LP purchased a new stake in shares of Chord Energy during the fourth quarter valued at about $33,000. Larson Financial Group LLC boosted its holdings in shares of Chord Energy by 238.3% in the 4th quarter. Larson Financial Group LLC now owns 318 shares of the company's stock valued at $37,000 after buying an additional 224 shares in the last quarter. Finally, R Squared Ltd purchased a new position in shares of Chord Energy in the 4th quarter worth approximately $51,000. Institutional investors own 97.76% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on CHRD shares. Piper Sandler lowered 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, April 22nd. Wells Fargo & Company dropped 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. Bank of America upgraded Chord Energy from a "neutral" rating to a "buy" rating and decreased their price target for the company from $125.00 to $114.00 in a research note on Tuesday. Citigroup dropped their price target on Chord Energy from $135.00 to $120.00 and set a "buy" rating on the stock in a research note on Monday, April 7th. Finally, Morgan Stanley set a $139.00 price objective on shares of Chord Energy and gave the company a "cautious" rating in a research report on Wednesday, March 26th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $156.08.

Chord Energy Stock Performance

Shares of CHRD stock traded up $1.85 during trading hours on Thursday, hitting $92.08. The company's stock had a trading volume of 1,013,602 shares, compared to its average volume of 974,348. The stock has a market cap of $5.48 billion, a PE ratio of 4.74, a price-to-earnings-growth ratio of 5.83 and a beta of 0.96. Chord Energy Co. has a 12-month low of $79.83 and a 12-month high of $188.02. The company has a 50 day moving average of $100.78 and a 200 day moving average of $114.24. The company has a current ratio of 0.93, a quick ratio of 0.89 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. Shareholders of record on Tuesday, March 11th were given a dividend of $1.30 per share. This is an increase from Chord Energy's previous quarterly dividend of $1.25. This represents a $5.20 annualized dividend and a yield of 5.65%. The ex-dividend date was Tuesday, March 11th. 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.