Versor Investments LP Acquires Shares of 6,300 Chord Energy Co. (NASDAQ:CHRD)

Versor Investments LP acquired a new stake in Chord Energy Co. (NASDAQ:CHRD) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 6,300 shares of the company’s stock, valued at approximately $737,000.

A number of other institutional investors also recently bought and sold shares of the business. Delta Capital Management LLC increased its stake in Chord Energy by 4.3% in the fourth quarter. Delta Capital Management LLC now owns 2,200 shares of the company’s stock valued at $257,000 after purchasing an additional 90 shares during the period. Commerce Bank increased its stake in Chord Energy by 4.3% in the third quarter. Commerce Bank now owns 2,361 shares of the company’s stock valued at $307,000 after purchasing an additional 98 shares during the period. New York State Teachers Retirement System increased its stake in Chord Energy by 0.4% in the third quarter. New York State Teachers Retirement System now owns 27,274 shares of the company’s stock valued at $3,552,000 after purchasing an additional 100 shares during the period. Exchange Traded Concepts LLC increased its stake in Chord Energy by 1.8% in the fourth quarter. Exchange Traded Concepts LLC now owns 6,145 shares of the company’s stock valued at $718,000 after purchasing an additional 110 shares during the period. Finally, Lindenwold Advisors INC boosted its holdings in shares of Chord Energy by 5.0% in the third quarter. Lindenwold Advisors INC now owns 2,523 shares of the company’s stock valued at $329,000 after acquiring an additional 119 shares in the last quarter. 97.76% of the stock is currently owned by institutional investors and hedge funds.

Chord Energy Stock Up 0.5 %

CHRD stock opened at $114.30 on Friday. The company has a market cap of $6.99 billion, a P/E ratio of 5.89, a P/E/G ratio of 5.83 and a beta of 0.98. Chord Energy Co. has a 52 week low of $107.24 and a 52 week high of $190.23. The company’s 50-day moving average price is $116.36 and its 200 day moving average price is $127.06. The company has a current ratio of 0.93, a quick ratio of 0.89 and a debt-to-equity ratio of 0.10.

Chord Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 26th. Shareholders of record on Tuesday, March 11th will be given a dividend of $1.30 per share. The ex-dividend date is Tuesday, March 11th. This represents a $5.20 dividend on an annualized basis and a yield of 4.55%. This is a boost from Chord Energy’s previous quarterly dividend of $1.25. Chord Energy’s payout ratio is presently 31.37%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Royal Bank of Canada lowered their target price on shares of Chord Energy from $185.00 to $180.00 and set an “outperform” rating on the stock in a report on Wednesday, November 20th. UBS Group lowered their target price on shares of Chord Energy from $168.00 to $161.00 and set a “buy” rating on the stock in a report on Monday, December 9th. Bank of America reaffirmed a “neutral” rating and issued a $138.00 target price (down previously from $208.00) on shares of Chord Energy in a report on Monday, January 13th. Wells Fargo & Company lowered their target price on shares of Chord Energy from $176.00 to $175.00 and set an “overweight” rating on the stock in a report on Wednesday, January 15th. Finally, Truist Financial lifted their target price on shares of Chord Energy from $185.00 to $186.00 and gave the company a “buy” rating in a report on Monday, January 13th. Three investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $169.92.

Insiders Place Their Bets

In other Chord Energy news, CAO Shannon Browning Kinney sold 1,000 shares of Chord Energy stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $116.35, for a total transaction of $116,350.00. Following the completion of the transaction, the chief accounting officer now owns 19,488 shares in the company, valued at approximately $2,267,428.80. The trade was a 4.88 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.70% of the stock is currently owned by company insiders.

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.