256,445 Shares in Chord Energy Co. (NASDAQ:CHRD) Purchased by Raymond James Financial Inc.

Raymond James Financial Inc. acquired a new position in Chord Energy Co. (NASDAQ:CHRD) in the 4th quarter, HoldingsChannel reports. The fund acquired 256,445 shares of the company’s stock, valued at approximately $29,984,000.

Other large investors also recently added to or reduced their stakes in the company. Stone House Investment Management LLC bought a new position in Chord Energy in the 3rd quarter worth about $26,000. Brooklyn Investment Group bought a new position in Chord Energy in the 4th quarter worth about $29,000. R Squared Ltd bought a new position in Chord Energy in the 4th quarter worth about $51,000. Venturi Wealth Management LLC boosted its stake in Chord Energy by 1,751.9% in the 4th quarter. Venturi Wealth Management LLC now owns 500 shares of the company’s stock worth $58,000 after purchasing an additional 473 shares during the period. Finally, Union Bancaire Privee UBP SA bought a new position in Chord Energy in the 4th quarter worth about $77,000. Hedge funds and other institutional investors own 97.76% of the company’s stock.

Chord Energy Price Performance

Shares of Chord Energy stock opened at $106.21 on Friday. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.93 and a quick ratio of 0.89. The business’s 50 day simple moving average is $114.54 and its two-hundred day simple moving average is $123.82. The stock has a market capitalization of $6.33 billion, a P/E ratio of 5.47, a price-to-earnings-growth ratio of 5.83 and a beta of 0.98. Chord Energy Co. has a one year low of $99.40 and a one year high of $190.23.

Chord Energy Increases Dividend

The business also recently declared 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 boost from Chord Energy’s previous quarterly dividend of $1.25. This represents a $5.20 dividend on an annualized basis and a yield of 4.90%. The ex-dividend date of this dividend is Tuesday, March 11th. Chord Energy’s payout ratio is 32.62%.

Insiders Place Their Bets

In other news, CAO Shannon Browning Kinney sold 1,000 shares of the business’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $116.35, for a total transaction of $116,350.00. Following the transaction, the chief accounting officer now directly owns 19,488 shares of the company’s stock, valued at approximately $2,267,428.80. The trade was a 4.88 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.70% of the company’s stock.

Analyst Ratings Changes

Several research analysts have commented on CHRD shares. UBS Group cut their target price on Chord Energy from $168.00 to $161.00 and set a “buy” rating for the company in a research note on Monday, December 9th. Piper Sandler cut their target price on Chord Energy from $193.00 to $184.00 and set an “overweight” rating for the company in a research note on Thursday, March 6th. Wells Fargo & Company dropped their price target on Chord Energy from $176.00 to $175.00 and set an “overweight” rating for the company in a research report on Wednesday, January 15th. Williams Trading set a $155.00 price target on Chord Energy in a research report on Wednesday, March 5th. Finally, Bank of America reiterated a “neutral” rating and set a $138.00 price target (down previously from $208.00) on shares of Chord Energy in a research report on Monday, January 13th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $164.62.

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.