State of Alaska Department of Revenue Trims Position in Chord Energy Co. (NASDAQ:CHRD)

State of Alaska Department of Revenue cut its position in Chord Energy Co. (NASDAQ:CHRD) by 1.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 18,973 shares of the company’s stock after selling 270 shares during the period. State of Alaska Department of Revenue’s holdings in Chord Energy were worth $2,218,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. FMR LLC increased its stake in shares of Chord Energy by 2.2% in the third quarter. FMR LLC now owns 3,420,012 shares of the company’s stock worth $445,388,000 after purchasing an additional 74,165 shares in the last quarter. State Street Corp increased its stake 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 purchasing an additional 22,753 shares in the last quarter. Victory Capital Management Inc. increased its stake in shares of Chord Energy by 41.3% in the third quarter. Victory Capital Management Inc. now owns 2,245,435 shares of the company’s stock worth $292,423,000 after purchasing an additional 656,374 shares in the last quarter. Pacer Advisors Inc. increased its stake in shares of Chord Energy by 50.4% in the fourth quarter. Pacer Advisors Inc. now owns 1,872,156 shares of the company’s stock worth $218,892,000 after purchasing an additional 627,122 shares in the last quarter. Finally, Geode Capital Management LLC increased its stake in shares of Chord Energy by 3.0% in the third quarter. Geode Capital Management LLC now owns 1,162,442 shares of the company’s stock worth $151,077,000 after purchasing an additional 34,156 shares in the last quarter. 97.76% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on CHRD shares. Piper Sandler dropped their target price on shares of Chord Energy from $194.00 to $193.00 and set an “overweight” rating for the company in a research report on Wednesday, January 15th. Mizuho dropped their target price 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. UBS Group dropped their target price on shares of Chord Energy from $168.00 to $161.00 and set a “buy” rating for the company in a research report on Monday, December 9th. Royal Bank of Canada dropped their target price on shares of Chord Energy from $185.00 to $180.00 and set an “outperform” rating for the company in a research report on Wednesday, November 20th. Finally, Wells Fargo & Company dropped their target price on shares of Chord Energy from $176.00 to $175.00 and set an “overweight” rating for the company in a research report on Wednesday, January 15th. Three investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $173.08.

Insider Activity

In related news, CAO Shannon Browning Kinney sold 1,000 shares of the firm’s stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $121.27, for a total value of $121,270.00. Following the transaction, the chief accounting officer now owns 20,488 shares of the company’s stock, valued at $2,484,579.76. This trade represents a 4.65 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.70% of the company’s stock.

Chord Energy Trading Up 3.5 %

Shares of CHRD opened at $113.17 on Tuesday. Chord Energy Co. has a twelve month low of $107.24 and a twelve month high of $190.23. The company has a market cap of $6.92 billion, a P/E ratio of 5.83, a P/E/G ratio of 5.46 and a beta of 0.98. 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’s fifty day simple moving average is $117.99 and its 200-day simple moving average is $131.02.

Chord Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Wednesday, November 27th were paid a $1.25 dividend. This represents a $5.00 annualized dividend and a dividend yield of 4.42%. The ex-dividend date was Wednesday, November 27th. Chord Energy’s dividend payout ratio is currently 25.75%.

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.