Raymond James Financial Inc. Invests $29.98 Million in Chord Energy Co. (NASDAQ:CHRD)

Raymond James Financial Inc. acquired a new stake in shares of Chord Energy Co. (NASDAQ:CHRD - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 256,445 shares of the company's stock, valued at approximately $29,984,000. Raymond James Financial Inc. owned about 0.42% of Chord Energy as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Brooklyn Investment Group bought a new stake in shares of Chord Energy in the fourth quarter worth $29,000. Twin Tree Management LP bought a new stake in shares of Chord Energy during the 4th quarter valued at about $33,000. Larson Financial Group LLC increased its position in shares of Chord Energy by 238.3% during the 4th quarter. Larson Financial Group LLC now owns 318 shares of the company's stock valued at $37,000 after purchasing an additional 224 shares during the last quarter. R Squared Ltd bought a new position in shares of Chord Energy in the 4th quarter worth approximately $51,000. Finally, Venturi Wealth Management LLC boosted its holdings in shares of Chord Energy by 1,751.9% in the fourth quarter. Venturi Wealth Management LLC now owns 500 shares of the company's stock worth $58,000 after buying an additional 473 shares during the last quarter. Institutional investors own 97.76% of the company's stock.

Chord Energy Price Performance

Shares of CHRD traded down $0.59 during mid-day trading on Wednesday, hitting $93.70. 149,443 shares of the stock were exchanged, compared to its average volume of 968,109. 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 market cap of $5.57 billion, a PE ratio of 4.82, a price-to-earnings-growth ratio of 5.83 and a beta of 0.96. Chord Energy Co. has a 52-week low of $79.83 and a 52-week high of $188.02. The firm has a 50-day moving average of $103.46 and a two-hundred day moving average of $116.09.

Chord Energy Increases Dividend

The firm also recently disclosed 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. The ex-dividend date was Tuesday, March 11th. This represents a $5.20 annualized dividend and a yield of 5.55%. This is a positive change from Chord Energy's previous quarterly dividend of $1.25. Chord Energy's dividend payout ratio (DPR) is 32.62%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. Wolfe Research upgraded shares of Chord Energy from a "peer perform" rating to an "outperform" rating and set a $155.00 price target on the stock in a research report on Friday, January 3rd. Citigroup reduced their price target on Chord Energy from $135.00 to $120.00 and set a "buy" rating for the company in a research report on Monday, April 7th. Truist Financial lifted their price objective on Chord Energy from $185.00 to $186.00 and gave the company a "buy" rating in a research report on Monday, January 13th. Williams Trading set a $155.00 target price on shares of Chord Energy in a report on Wednesday, March 5th. Finally, Royal Bank of Canada decreased their price objective on shares of Chord Energy from $165.00 to $145.00 and set an "outperform" rating on the stock in a research report on Friday, April 11th. One analyst has rated the stock with a sell rating, two have issued a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, Chord Energy presently has a consensus rating of "Moderate Buy" and an average target price of $156.92.

About Chord Energy

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.