Portfolio Design Labs LLC Boosts Stock Position in Chord Energy Co. (NASDAQ:CHRD)

Portfolio Design Labs LLC boosted its holdings in shares of Chord Energy Co. (NASDAQ:CHRD) by 32.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 29,175 shares of the company’s stock after acquiring an additional 7,165 shares during the quarter. Portfolio Design Labs LLC’s holdings in Chord Energy were worth $3,411,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. Stone House Investment Management LLC bought a new stake in shares of Chord Energy in the third quarter valued at about $26,000. Brooklyn Investment Group purchased a new position in Chord Energy during the 4th quarter valued at about $29,000. UMB Bank n.a. raised its holdings in shares of Chord Energy by 77.7% in the 3rd quarter. UMB Bank n.a. now owns 231 shares of the company’s stock valued at $30,000 after purchasing an additional 101 shares in the last quarter. Spartan Fund Management Inc. purchased a new stake in shares of Chord Energy in the 3rd quarter worth approximately $34,000. Finally, Fortitude Family Office LLC bought a new position in shares of Chord Energy during the third quarter valued at approximately $47,000. Hedge funds and other institutional investors own 97.76% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on CHRD shares. Wells Fargo & Company reduced their price objective on shares of Chord Energy from $176.00 to $175.00 and set an “overweight” rating for the company in a research note on Wednesday, January 15th. Wolfe Research raised Chord Energy from a “peer perform” rating to an “outperform” rating and set a $155.00 price target for the company in a research report on Friday, January 3rd. Piper Sandler decreased their price objective on Chord Energy from $194.00 to $193.00 and set an “overweight” rating for the company in a research note on Wednesday, January 15th. Truist Financial lifted their target price on Chord Energy from $185.00 to $186.00 and gave the company a “buy” rating in a research note on Monday, January 13th. Finally, Morgan Stanley started coverage on shares of Chord Energy in a research report on Friday, January 10th. They set an “equal weight” rating and a $158.00 price target for the company. Three analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $173.08.

Insider Buying and Selling at Chord Energy

In other Chord Energy news, CAO Shannon Browning Kinney sold 1,000 shares of the company’s stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $121.27, for a total transaction of $121,270.00. Following the transaction, the chief accounting officer now owns 20,488 shares in the company, valued at approximately $2,484,579.76. This represents a 4.65 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.70% of the stock is currently owned by company insiders.

Chord Energy Trading Up 1.1 %

NASDAQ:CHRD opened at $114.41 on Wednesday. Chord Energy Co. has a 52 week low of $107.24 and a 52 week high of $190.23. The firm has a 50 day moving average of $117.73 and a 200 day moving average of $130.61. The company has a quick ratio of 0.89, a current ratio of 0.93 and a debt-to-equity ratio of 0.10. The stock has a market capitalization of $6.99 billion, a price-to-earnings ratio of 5.89, a PEG ratio of 5.46 and a beta of 0.98.

Chord Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Wednesday, November 27th were paid a dividend of $1.25 per share. The ex-dividend date of this dividend was Wednesday, November 27th. This represents a $5.00 dividend on an annualized basis and a yield of 4.37%. Chord Energy’s payout ratio is 25.75%.

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.