Chord Energy Co. (NASDAQ:CHRD) Shares Sold by Sei Investments Co.

Sei Investments Co. lessened its stake in shares of Chord Energy Co. (NASDAQ:CHRD) by 3.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 226,050 shares of the company’s stock after selling 9,032 shares during the quarter. Sei Investments Co. owned approximately 0.37% of Chord Energy worth $26,430,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. Pacer Advisors Inc. increased its stake in Chord Energy by 50.4% during the fourth quarter. Pacer Advisors Inc. now owns 1,872,156 shares of the company’s stock worth $218,892,000 after acquiring an additional 627,122 shares during the last quarter. Victory Capital Management Inc. grew its holdings in Chord Energy by 27.6% during the 4th quarter. Victory Capital Management Inc. now owns 2,864,456 shares of the company’s stock worth $334,912,000 after acquiring an additional 619,021 shares in the last quarter. Point72 Asset Management L.P. grew its stake in Chord Energy by 143.8% in the third quarter. Point72 Asset Management L.P. now owns 880,787 shares of the company’s stock worth $114,705,000 after purchasing an additional 519,547 shares in the last quarter. Raymond James Financial Inc. bought a new stake in shares of Chord Energy in the 4th quarter valued at approximately $29,984,000. Finally, Allspring Global Investments Holdings LLC raised its holdings in shares of Chord Energy by 30.1% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 744,309 shares of the company’s stock worth $88,459,000 after purchasing an additional 172,196 shares during the period. Institutional investors and hedge funds own 97.76% of the company’s stock.

Wall Street Analyst Weigh In

CHRD has been the topic of several recent research reports. Truist Financial lifted their price objective on shares of Chord Energy from $185.00 to $186.00 and gave the company a “buy” rating in a research report on Monday, January 13th. Mizuho dropped their price target on shares of Chord Energy from $192.00 to $178.00 and set an “outperform” rating on the stock in a research report on Monday, December 16th. Piper Sandler cut their price objective on Chord Energy from $193.00 to $184.00 and set an “overweight” rating for the company in a research report on Thursday, March 6th. Bank of America reaffirmed a “neutral” rating and set a $138.00 price objective (down from $208.00) on shares of Chord Energy in a research note on Monday, January 13th. Finally, Morgan Stanley assumed coverage on Chord Energy in a report on Friday, January 10th. They set an “equal weight” rating and a $158.00 price target on the stock. One analyst has rated the stock with a sell rating, three have assigned a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $163.92.

Chord Energy Price Performance

Chord Energy stock opened at $112.60 on Wednesday. Chord Energy Co. has a 12 month low of $99.40 and a 12 month high of $190.23. The company has a current ratio of 0.93, a quick ratio of 0.89 and a debt-to-equity ratio of 0.10. The stock’s 50 day moving average is $112.66 and its 200-day moving average is $121.74. The company has a market capitalization of $6.71 billion, a price-to-earnings ratio of 5.80, a PEG ratio of 5.83 and a beta of 0.98.

Chord Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 26th. Stockholders of record on Tuesday, March 11th will be paid a $1.30 dividend. This is a positive change from Chord Energy’s previous quarterly dividend of $1.25. The ex-dividend date of this dividend is Tuesday, March 11th. This represents a $5.20 annualized dividend and a dividend yield of 4.62%. Chord Energy’s dividend payout ratio (DPR) is presently 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.