Chord Energy Co. (NASDAQ:CHRD) Shares Sold by Wells Fargo & Company MN

Wells Fargo & Company MN cut its holdings in Chord Energy Co. (NASDAQ:CHRD - Free Report) by 23.8% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 90,791 shares of the company's stock after selling 28,360 shares during the period. Wells Fargo & Company MN owned 0.15% of Chord Energy worth $10,615,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Pacer Advisors Inc. grew its holdings in Chord Energy by 50.4% in the fourth quarter. Pacer Advisors Inc. now owns 1,872,156 shares of the company's stock valued at $218,892,000 after purchasing an additional 627,122 shares during the period. Victory Capital Management Inc. boosted its holdings in shares of Chord Energy by 27.6% in the 4th quarter. Victory Capital Management Inc. now owns 2,864,456 shares of the company's stock valued at $334,912,000 after purchasing an additional 619,021 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Chord Energy during the 4th quarter valued at $29,984,000. Allspring Global Investments Holdings LLC increased its holdings in shares of Chord Energy by 30.1% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 744,309 shares of the company's stock worth $88,459,000 after buying an additional 172,196 shares during the last quarter. Finally, American Century Companies Inc. raised its position in shares of Chord Energy by 15.0% in the 4th quarter. American Century Companies Inc. now owns 1,116,073 shares of the company's stock worth $130,491,000 after buying an additional 145,627 shares during the period. Hedge funds and other institutional investors own 97.76% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on CHRD. Bank of America lowered their price target on Chord Energy from $138.00 to $125.00 and set a "neutral" rating for the company in a research report on Tuesday, April 1st. Piper Sandler decreased their target price on Chord Energy from $184.00 to $183.00 and set an "overweight" rating for the company in a report on Tuesday. Wells Fargo & Company cut their price target on shares of Chord Energy from $166.00 to $158.00 and set an "overweight" rating on the stock in a report on Tuesday, April 15th. Williams Trading set a $155.00 price objective on shares of Chord Energy in a research note on Wednesday, March 5th. Finally, Morgan Stanley set a $139.00 target price on shares of Chord Energy and gave the company a "cautious" rating in a research note on Wednesday, March 26th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $156.92.

Chord Energy Stock Up 1.6 %

Chord Energy stock traded up $1.45 during midday trading on Tuesday, hitting $94.29. 496,320 shares of the stock were exchanged, compared to its average volume of 971,264. 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 current ratio of 0.93 and a quick ratio of 0.89. The firm has a market cap of $5.61 billion, a P/E ratio of 4.86, a P/E/G ratio of 5.83 and a beta of 0.96. The company has a 50 day moving average price of $103.78 and a two-hundred day moving average price of $116.24.

Chord Energy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 26th. Stockholders of record on Tuesday, March 11th were given a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a dividend yield of 5.51%. This is a positive change from Chord Energy's previous quarterly dividend of $1.25. The ex-dividend date was Tuesday, March 11th. Chord Energy's payout ratio is presently 32.62%.

Chord Energy Company 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.