Boston Partners Boosts Stake in Chord Energy Co. (NASDAQ:CHRD)

Boston Partners raised its position in Chord Energy Co. (NASDAQ:CHRD) by 5.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,186,483 shares of the company’s stock after buying an additional 115,215 shares during the period. Boston Partners owned approximately 3.58% of Chord Energy worth $255,684,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds 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 about $26,000. Brooklyn Investment Group acquired a new stake in shares of Chord Energy in the 4th quarter valued at about $29,000. Twin Tree Management LP acquired a new stake in shares of Chord Energy in the 4th quarter valued at about $33,000. Larson Financial Group LLC raised its stake in shares of Chord Energy by 238.3% in the 4th quarter. Larson Financial Group LLC now owns 318 shares of the company’s stock valued at $37,000 after purchasing an additional 224 shares in the last quarter. Finally, R Squared Ltd acquired a new stake in shares of Chord Energy in the 4th quarter valued at about $51,000. 97.76% of the stock is owned by hedge funds and other institutional investors.

Chord Energy Price Performance

Shares of NASDAQ:CHRD opened at $108.72 on Wednesday. The firm’s 50 day moving average is $113.67 and its two-hundred day moving average is $122.59. 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 firm has a market capitalization of $6.48 billion, a P/E ratio of 5.60, a PEG ratio of 5.83 and a beta of 0.98. Chord Energy Co. has a 52 week low of $99.40 and a 52 week high of $190.23.

Chord Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 26th. Stockholders of record on Tuesday, March 11th will be issued a $1.30 dividend. The ex-dividend date is Tuesday, March 11th. This is a boost from Chord Energy’s previous quarterly dividend of $1.25. This represents a $5.20 annualized dividend and a dividend yield of 4.78%. Chord Energy’s dividend payout ratio (DPR) is 32.62%.

Analyst Ratings Changes

CHRD has been the topic of several research reports. Citigroup lowered shares of Chord Energy to a “reduce” rating in a research note on Wednesday, March 5th. Piper Sandler dropped their price objective 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. Wells Fargo & Company dropped their price objective 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. Williams Trading set a $155.00 price objective on shares of Chord Energy in a research note on Wednesday, March 5th. Finally, Wolfe Research upgraded shares of Chord Energy from a “peer perform” rating to an “outperform” rating and set a $155.00 price objective on the stock in a research note on Friday, January 3rd. One analyst has rated the stock with a sell rating, three have issued a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $164.62.

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.