Fisher Asset Management LLC Acquires 1,421 Shares of Chord Energy Co. (NASDAQ:CHRD)

Fisher Asset Management LLC boosted its holdings in shares of Chord Energy Co. (NASDAQ:CHRD) by 1.7% in the fourth quarter, Holdings Channel reports. The firm owned 86,198 shares of the company’s stock after purchasing an additional 1,421 shares during the quarter. Fisher Asset Management LLC’s holdings in Chord Energy were worth $10,078,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in CHRD. Stone House Investment Management LLC acquired a new stake in shares of Chord Energy in the 3rd quarter valued at $26,000. Brooklyn Investment Group bought a new position in shares of Chord Energy in the fourth quarter valued at approximately $29,000. R Squared Ltd acquired a new position in shares of Chord Energy in the 4th quarter worth approximately $51,000. Venturi Wealth Management LLC increased its holdings in Chord Energy by 1,751.9% during the 4th quarter. Venturi Wealth Management LLC now owns 500 shares of the company’s stock valued at $58,000 after purchasing an additional 473 shares in the last quarter. Finally, Union Bancaire Privee UBP SA acquired a new position in Chord Energy in the fourth quarter worth $77,000. 97.76% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CAO Shannon Browning Kinney sold 1,000 shares of the stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $116.35, for a total value of $116,350.00. Following the sale, the chief accounting officer now directly owns 19,488 shares in the company, valued at $2,267,428.80. This trade represents a 4.88 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 0.70% of the company’s stock.

Chord Energy Stock Performance

CHRD stock opened at $104.13 on Wednesday. Chord Energy Co. has a twelve month low of $100.58 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. The company has a market cap of $6.37 billion, a P/E ratio of 5.36, a price-to-earnings-growth ratio of 5.83 and a beta of 0.98. The business’s fifty day moving average is $116.32 and its 200-day moving average is $126.09.

Chord Energy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 26th. Shareholders of record on Tuesday, March 11th will be paid a $1.30 dividend. This is a positive change 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 annualized dividend and a yield of 4.99%. Chord Energy’s dividend payout ratio is presently 32.62%.

Analysts Set New Price Targets

A number of research firms recently issued reports on CHRD. Wells Fargo & Company cut their price target on Chord Energy from $176.00 to $175.00 and set an “overweight” rating for the company in a report on Wednesday, January 15th. Citigroup dropped their target price on shares of Chord Energy from $160.00 to $135.00 and set a “buy” rating for the company in a research note on Tuesday. Piper Sandler decreased their price target on shares of Chord Energy from $194.00 to $193.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 15th. Royal Bank of Canada dropped their price objective 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, Wolfe Research upgraded Chord Energy from a “peer perform” rating to an “outperform” rating and set a $155.00 price objective on the stock in a research report on Friday, January 3rd. Three investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $166.17.

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.