Wellington Management Group LLP Cuts Stake in Chord Energy Co. (NASDAQ:CHRD)

Wellington Management Group LLP lessened its stake in Chord Energy Co. (NASDAQ:CHRD) by 19.9% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,310,210 shares of the company’s stock after selling 324,989 shares during the quarter. Wellington Management Group LLP owned approximately 2.20% of Chord Energy worth $153,190,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Victory Capital Management Inc. lifted its stake in Chord Energy by 27.6% in the 4th quarter. Victory Capital Management Inc. now owns 2,864,456 shares of the company’s stock worth $334,912,000 after purchasing an additional 619,021 shares in the last quarter. State Street Corp lifted its position in shares of Chord Energy by 0.9% in the third quarter. State Street Corp now owns 2,485,777 shares of the company’s stock worth $323,723,000 after buying an additional 22,753 shares in the last quarter. Boston Partners boosted its stake in Chord Energy by 5.6% during the fourth quarter. Boston Partners now owns 2,186,483 shares of the company’s stock valued at $255,684,000 after buying an additional 115,215 shares during the last quarter. Pacer Advisors Inc. grew its holdings in Chord Energy by 50.4% during the 4th quarter. Pacer Advisors Inc. now owns 1,872,156 shares of the company’s stock valued at $218,892,000 after buying an additional 627,122 shares in the last quarter. Finally, Geode Capital Management LLC increased its stake in Chord Energy by 3.0% in the 3rd quarter. Geode Capital Management LLC now owns 1,162,442 shares of the company’s stock worth $151,077,000 after acquiring an additional 34,156 shares during the last quarter. Institutional investors own 97.76% of the company’s stock.

Chord Energy Stock Up 0.8 %

NASDAQ:CHRD opened at $113.54 on Thursday. The stock has a fifty day simple moving average of $110.85 and a 200-day simple moving average of $120.81. 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 company has a market cap of $6.75 billion, a price-to-earnings ratio of 5.85, a price-to-earnings-growth ratio of 5.83 and a beta of 0.98. Chord Energy Co. has a twelve month low of $99.40 and a twelve month high of $190.23.

Chord Energy Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 26th. Shareholders of record on Tuesday, March 11th were paid a $1.30 dividend. This is an increase from Chord Energy’s previous quarterly dividend of $1.25. This represents a $5.20 dividend on an annualized basis and a yield of 4.58%. The ex-dividend date was Tuesday, March 11th. Chord Energy’s dividend payout ratio is currently 32.62%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on CHRD shares. Morgan Stanley set a $139.00 target price on Chord Energy and gave the company a “cautious” rating in a research report on Wednesday, March 26th. Truist Financial lifted their price objective on shares of Chord Energy from $185.00 to $186.00 and gave the stock a “buy” rating in a research note on Monday, January 13th. Wells Fargo & Company reduced their target price on shares of Chord Energy from $175.00 to $166.00 and set an “overweight” rating on the stock in a report on Monday, March 24th. Wolfe Research raised shares of Chord Energy from a “peer perform” rating to an “outperform” rating and set a $155.00 price target for the company in a report on Friday, January 3rd. Finally, UBS Group reduced their price objective on Chord Energy from $168.00 to $161.00 and set a “buy” rating on the stock in a research note on Monday, December 9th. Two analysts have rated the stock with a sell rating, two have given a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Chord Energy presently has a consensus rating of “Moderate Buy” and an average target price of $161.46.

Chord Energy 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.