Raymond James Financial Inc. Makes New $29.98 Million Investment in Chord Energy Co. (NASDAQ:CHRD)

Raymond James Financial Inc. purchased a new position in shares of Chord Energy Co. (NASDAQ:CHRD) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 256,445 shares of the company’s stock, valued at approximately $29,984,000. Raymond James Financial Inc. owned approximately 0.42% of Chord Energy as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of CHRD. Crossmark Global Holdings Inc. boosted its holdings in shares of Chord Energy by 58.6% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 5,769 shares of the company’s stock worth $751,000 after buying an additional 2,131 shares in the last quarter. GSA Capital Partners LLP bought a new position in shares of Chord Energy in the 3rd quarter worth $218,000. Sumitomo Mitsui Trust Group Inc. lifted its holdings in shares of Chord Energy by 0.7% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 117,273 shares of the company’s stock worth $15,272,000 after purchasing an additional 792 shares in the last quarter. Empowered Funds LLC lifted its holdings in shares of Chord Energy by 58.0% in the 3rd quarter. Empowered Funds LLC now owns 30,825 shares of the company’s stock worth $4,014,000 after purchasing an additional 11,321 shares in the last quarter. Finally, Swiss National Bank lifted its holdings in shares of Chord Energy by 0.6% in the 3rd quarter. Swiss National Bank now owns 185,022 shares of the company’s stock worth $24,095,000 after purchasing an additional 1,100 shares in the last quarter. 97.76% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CAO Shannon Browning Kinney sold 1,000 shares of Chord Energy stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $116.35, for a total value of $116,350.00. Following the completion of the sale, the chief accounting officer now owns 19,488 shares of the company’s stock, valued at approximately $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 can be accessed through this hyperlink. Insiders own 0.70% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on CHRD shares. Mizuho cut their target price on Chord Energy from $192.00 to $178.00 and set an “outperform” rating on the stock in a report on Monday, December 16th. Wolfe Research upgraded Chord Energy from a “peer perform” rating to an “outperform” rating and set a $155.00 target price on the stock in a report on Friday, January 3rd. Piper Sandler cut their target price on Chord Energy from $193.00 to $184.00 and set an “overweight” rating on the stock in a report on Thursday, March 6th. Truist Financial increased their target price on Chord Energy from $185.00 to $186.00 and gave the stock a “buy” rating in a report on Monday, January 13th. Finally, Bank of America reissued a “neutral” rating and issued a $138.00 price target (down from $208.00) on shares of Chord Energy in a research report on Monday, January 13th. 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 given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $164.62.

Chord Energy Trading Up 2.8 %

Shares of Chord Energy stock opened at $106.21 on Friday. Chord Energy Co. has a 1 year low of $99.40 and a 1 year high of $190.23. The firm has a market cap of $6.33 billion, a PE ratio of 5.47, a P/E/G ratio of 5.83 and a beta of 0.98. The stock has a fifty day moving average price of $114.54 and a 200-day moving average price of $123.82. 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 firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 26th. Stockholders of record on Tuesday, March 11th will be given a dividend of $1.30 per share. The ex-dividend date of this dividend is Tuesday, March 11th. This is a positive change from Chord Energy’s previous quarterly dividend of $1.25. This represents a $5.20 annualized dividend and a dividend yield of 4.90%. Chord Energy’s dividend payout ratio (DPR) is currently 32.62%.

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.