Magnetar Financial LLC Trims Stake in Chord Energy Co. (NASDAQ:CHRD)

Magnetar Financial LLC lowered its stake in shares of Chord Energy Co. (NASDAQ:CHRD) by 42.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 29,237 shares of the company’s stock after selling 21,447 shares during the quarter. Magnetar Financial LLC’s holdings in Chord Energy were worth $3,418,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently modified their holdings of CHRD. GSA Capital Partners LLP bought a new stake in Chord Energy during the third quarter worth about $218,000. Swiss National Bank boosted its stake in Chord Energy by 0.6% during the third quarter. Swiss National Bank now owns 185,022 shares of the company’s stock worth $24,095,000 after acquiring an additional 1,100 shares in the last quarter. Quest Partners LLC boosted its stake in Chord Energy by 718,700.0% during the third quarter. Quest Partners LLC now owns 7,188 shares of the company’s stock worth $936,000 after acquiring an additional 7,187 shares in the last quarter. Segall Bryant & Hamill LLC boosted its stake in Chord Energy by 9.6% during the third quarter. Segall Bryant & Hamill LLC now owns 85,746 shares of the company’s stock worth $11,167,000 after acquiring an additional 7,514 shares in the last quarter. Finally, Commerce Bank boosted its stake in Chord Energy by 4.3% during the third quarter. Commerce Bank now owns 2,361 shares of the company’s stock worth $307,000 after acquiring an additional 98 shares in the last quarter. Hedge funds and other institutional investors own 97.76% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently commented on CHRD shares. Williams Trading set a $155.00 price objective on shares of Chord Energy in a research note on Wednesday, March 5th. Piper Sandler dropped their target price on shares of Chord Energy from $193.00 to $184.00 and set an “overweight” rating on the stock in a research note on Thursday, March 6th. UBS Group dropped their target price on shares of Chord Energy from $168.00 to $161.00 and set a “buy” rating on the stock in a research note on Monday, December 9th. Mizuho dropped their target price on shares of Chord Energy from $192.00 to $178.00 and set an “outperform” rating on the stock in a research note on Monday, December 16th. Finally, Wells Fargo & Company dropped their target price on shares of Chord Energy from $176.00 to $175.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 15th. One research analyst has rated the stock with a sell rating, three have given a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Chord Energy presently has an average rating of “Moderate Buy” and a consensus price target of $164.62.

Chord Energy Stock Down 0.3 %

Shares of Chord Energy stock opened at $110.79 on Friday. The company has a market cap of $6.61 billion, a price-to-earnings ratio of 5.70, a price-to-earnings-growth ratio of 5.83 and a beta of 0.98. The company’s 50 day moving average is $113.21 and its 200 day moving average is $122.43. Chord Energy Co. has a twelve month low of $99.40 and a twelve month high of $190.23. The company has a quick ratio of 0.89, a current ratio of 0.93 and a debt-to-equity ratio of 0.10.

Chord Energy Increases Dividend

The business 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 is an increase 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 dividend on an annualized basis and a yield of 4.69%. Chord Energy’s dividend payout ratio is 32.62%.

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.