Tower Research Capital LLC TRC Boosts Holdings in Chord Energy Co. (NASDAQ:CHRD)

Tower Research Capital LLC TRC increased its position in Chord Energy Co. (NASDAQ:CHRD - Free Report) by 117.6% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 5,429 shares of the company's stock after acquiring an additional 2,934 shares during the period. Tower Research Capital LLC TRC's holdings in Chord Energy were worth $635,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in CHRD. Delta Capital Management LLC raised its stake in shares of Chord Energy by 4.3% in the fourth quarter. Delta Capital Management LLC now owns 2,200 shares of the company's stock worth $257,000 after purchasing an additional 90 shares during the last quarter. Gables Capital Management Inc. lifted its stake in Chord Energy by 6.9% during the 4th quarter. Gables Capital Management Inc. now owns 1,550 shares of the company's stock valued at $181,000 after acquiring an additional 100 shares during the period. Envestnet Portfolio Solutions Inc. boosted its holdings in shares of Chord Energy by 2.9% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 3,710 shares of the company's stock valued at $434,000 after acquiring an additional 106 shares during the last quarter. Exchange Traded Concepts LLC grew its stake in shares of Chord Energy by 1.8% in the fourth quarter. Exchange Traded Concepts LLC now owns 6,145 shares of the company's stock worth $718,000 after acquiring an additional 110 shares during the period. Finally, Blue Trust Inc. raised its holdings in shares of Chord Energy by 4.0% during the fourth quarter. Blue Trust Inc. now owns 3,334 shares of the company's stock valued at $390,000 after purchasing an additional 128 shares during the last quarter. 97.76% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have commented on CHRD. Wolfe Research raised shares of Chord Energy from a "peer perform" rating to an "outperform" rating and set a $155.00 target price for the company in a research report on Friday, January 3rd. Williams Trading set a $155.00 price objective on Chord Energy in a research report on Wednesday, March 5th. Morgan Stanley set a $139.00 target price on Chord Energy and gave the stock a "cautious" rating in a research report on Wednesday, March 26th. Bank of America upgraded shares of Chord Energy from a "neutral" rating to a "buy" rating and lowered their price objective for the stock from $125.00 to $114.00 in a research note on Tuesday. Finally, Citigroup dropped their price target on shares of Chord Energy from $135.00 to $120.00 and set a "buy" rating on the stock in a research note on Monday, April 7th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, Chord Energy has a consensus rating of "Moderate Buy" and a consensus price target of $156.08.

Chord Energy Stock Performance

NASDAQ CHRD traded up $1.15 during trading hours on Friday, reaching $93.23. The stock had a trading volume of 424,093 shares, compared to its average volume of 971,987. 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 stock has a fifty day moving average of $100.78 and a 200 day moving average of $114.24. Chord Energy Co. has a 52-week low of $79.83 and a 52-week high of $188.02. The stock has a market cap of $5.55 billion, a P/E ratio of 4.80, a price-to-earnings-growth 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 given a dividend of $1.30 per share. This is a boost from Chord Energy's previous quarterly dividend of $1.25. This represents a $5.20 annualized dividend and a yield of 5.58%. The ex-dividend date was Tuesday, March 11th. Chord Energy's dividend payout ratio (DPR) is currently 32.62%.

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.