Factorial Partners LLC Buys 23,500 Shares of Chord Energy Co. (NASDAQ:CHRD)

Factorial Partners LLC increased its position in shares of Chord Energy Co. (NASDAQ:CHRD) by 85.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 51,000 shares of the company’s stock after purchasing an additional 23,500 shares during the period. Chord Energy accounts for about 3.4% of Factorial Partners LLC’s investment portfolio, making the stock its 5th largest holding. Factorial Partners LLC owned 0.08% of Chord Energy worth $5,963,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Stone House Investment Management LLC acquired a new position in shares of Chord Energy in the 3rd quarter worth approximately $26,000. Brooklyn Investment Group acquired a new position in Chord Energy in the fourth quarter worth approximately $29,000. R Squared Ltd bought a new position in shares of Chord Energy in the fourth quarter valued at $51,000. Venturi Wealth Management LLC lifted its position in shares of Chord Energy by 1,751.9% during the 4th quarter. Venturi Wealth Management LLC now owns 500 shares of the company’s stock valued at $58,000 after acquiring an additional 473 shares during the last quarter. Finally, Union Bancaire Privee UBP SA bought a new stake in shares of Chord Energy during the 4th quarter worth $77,000. 97.76% of the stock is currently owned by institutional investors and hedge funds.

Chord Energy Stock Up 0.5 %

CHRD opened at $114.30 on Friday. The company has a market capitalization of $6.99 billion, a PE ratio of 5.89, a price-to-earnings-growth ratio of 5.83 and a beta of 0.98. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.93 and a quick ratio of 0.89. Chord Energy Co. has a fifty-two week low of $107.24 and a fifty-two week high of $190.23. The business has a 50-day moving average of $116.36 and a 200-day moving average of $127.06.

Chord Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 26th. Investors of record on Tuesday, March 11th will be given a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a yield of 4.55%. The ex-dividend date is Tuesday, March 11th. This is a positive change from Chord Energy’s previous quarterly dividend of $1.25. Chord Energy’s dividend payout ratio (DPR) is presently 31.37%.

Insiders Place Their Bets

In other Chord Energy news, CAO Shannon Browning Kinney sold 1,000 shares of the firm’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $116.35, for a total transaction of $116,350.00. Following the transaction, the chief accounting officer now directly owns 19,488 shares in the company, valued at $2,267,428.80. This trade represents a 4.88 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.70% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the company. Morgan Stanley started coverage on Chord Energy in a research report on Friday, January 10th. They set an “equal weight” rating and a $158.00 target price on the stock. Royal Bank of Canada reduced their price objective on shares of Chord Energy from $185.00 to $180.00 and set an “outperform” rating for the company in a research note on Wednesday, November 20th. Truist Financial lifted their target price on shares of Chord Energy from $185.00 to $186.00 and gave the stock a “buy” rating in a research report on Monday, January 13th. Bank of America reaffirmed a “neutral” rating and issued a $138.00 price objective (down previously from $208.00) on shares of Chord Energy in a research note on Monday, January 13th. Finally, Wells Fargo & Company lowered their price objective on shares of Chord Energy from $176.00 to $175.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 15th. Three investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $169.92.

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.