Bryce Point Capital LLC Acquires New Holdings in Chord Energy Co. (NASDAQ:CHRD)

Bryce Point Capital LLC purchased a new stake in Chord Energy Co. (NASDAQ:CHRD) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 4,093 shares of the company’s stock, valued at approximately $479,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Brooklyn Investment Group acquired a new position in Chord Energy during the fourth quarter worth $29,000. Twin Tree Management LP acquired a new position in Chord Energy during the fourth quarter valued at approximately $33,000. Larson Financial Group LLC boosted its stake in Chord Energy by 238.3% in the fourth quarter. Larson Financial Group LLC now owns 318 shares of the company’s stock valued at $37,000 after buying an additional 224 shares in the last quarter. R Squared Ltd acquired a new stake in shares of Chord Energy in the 4th quarter valued at approximately $51,000. Finally, Venturi Wealth Management LLC grew its stake in shares of Chord Energy by 1,751.9% during the fourth quarter. Venturi Wealth Management LLC now owns 500 shares of the company’s stock worth $58,000 after buying an additional 473 shares during the last quarter. Institutional investors and hedge funds own 97.76% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on CHRD. Bank of America dropped their price target on shares of Chord Energy from $138.00 to $125.00 and set a “neutral” rating for the company in a research note on Tuesday. Citigroup downgraded shares of Chord Energy to a “reduce” rating in a research report on Wednesday, March 5th. Wolfe Research upgraded shares of Chord Energy from a “peer perform” rating to an “outperform” rating and set a $155.00 price objective for the company in a report on Friday, January 3rd. Piper Sandler cut their target price on Chord Energy from $193.00 to $184.00 and set an “overweight” rating on the stock in a research report on Thursday, March 6th. Finally, Mizuho reduced their price objective on shares of Chord Energy from $192.00 to $178.00 and set an “outperform” rating for the company in a research report on Monday, December 16th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $161.46.

Chord Energy Stock Performance

CHRD opened at $87.82 on Friday. Chord Energy Co. has a fifty-two week low of $86.70 and a fifty-two week high of $190.23. 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 company has a fifty day moving average of $109.83 and a 200 day moving average of $120.34. The stock has a market capitalization of $5.22 billion, a price-to-earnings ratio of 4.52, a PEG ratio of 5.83 and a beta of 0.98.

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 issued a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a yield of 5.92%. The ex-dividend date was Tuesday, March 11th. This is a positive change from Chord Energy’s previous quarterly dividend of $1.25. Chord Energy’s dividend payout ratio 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.