Corebridge Financial Inc. Lowers Holdings in Chord Energy Co. (NASDAQ:CHRD)

Corebridge Financial Inc. reduced its stake in Chord Energy Co. (NASDAQ:CHRD) by 5.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 69,173 shares of the company’s stock after selling 4,003 shares during the period. Corebridge Financial Inc. owned approximately 0.11% of Chord Energy worth $8,088,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Brooklyn Investment Group bought a new position in Chord Energy in the 4th quarter worth about $29,000. Twin Tree Management LP purchased a new stake in shares of Chord Energy during the fourth quarter valued at approximately $33,000. Larson Financial Group LLC grew its holdings in shares of Chord Energy by 238.3% during the fourth quarter. Larson Financial Group LLC now owns 318 shares of the company’s stock valued at $37,000 after buying an additional 224 shares during the last quarter. R Squared Ltd bought a new stake in shares of Chord Energy during the fourth quarter valued at approximately $51,000. Finally, Venturi Wealth Management LLC raised its holdings 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 acquiring an additional 473 shares during the last quarter. 97.76% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages have commented on CHRD. Citigroup downgraded Chord Energy to a “reduce” rating in a research note on Wednesday, March 5th. Mizuho dropped their price objective on Chord Energy from $192.00 to $178.00 and set an “outperform” rating on the stock in a research report on Monday, December 16th. Wells Fargo & Company decreased their target price on Chord Energy from $175.00 to $166.00 and set an “overweight” rating for the company in a research report on Monday. Bank of America restated a “neutral” rating and set a $138.00 target price (down previously from $208.00) on shares of Chord Energy in a research note on Monday, January 13th. Finally, Morgan Stanley set a $139.00 price target on shares of Chord Energy and gave the stock a “cautious” rating in a research note on Wednesday. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $162.46.

Chord Energy Trading Down 1.4 %

NASDAQ:CHRD opened at $112.14 on Friday. Chord Energy Co. has a one year low of $99.40 and a one year high of $190.23. The business has a fifty day moving average price of $111.82 and a 200-day moving average price of $121.46. The firm has a market capitalization of $6.67 billion, a price-to-earnings ratio of 5.77, a price-to-earnings-growth ratio of 5.83 and a beta of 0.98. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.93 and a quick ratio of 0.89.

Chord Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 26th. Stockholders of record on Tuesday, March 11th were paid a $1.30 dividend. The ex-dividend date of this dividend was Tuesday, March 11th. This represents a $5.20 annualized dividend and a dividend yield of 4.64%. This is an increase from Chord Energy’s previous quarterly dividend of $1.25. Chord Energy’s dividend payout ratio (DPR) is 32.62%.

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.