Freestone Grove Partners LP Invests $21.10 Million in Chord Energy Co. (NASDAQ:CHRD)

Freestone Grove Partners LP acquired a new stake in shares of Chord Energy Co. (NASDAQ:CHRD) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 180,436 shares of the company’s stock, valued at approximately $21,097,000. Freestone Grove Partners LP owned approximately 0.30% of Chord Energy as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the stock. Altshuler Shaham Ltd bought a new position in shares of Chord Energy during the fourth quarter valued at $25,000. Brooklyn Investment Group purchased a new stake in Chord Energy during the 4th quarter valued at about $29,000. Twin Tree Management LP bought a new stake in Chord Energy during the 4th quarter valued at about $33,000. Larson Financial Group LLC raised its holdings in Chord Energy by 238.3% in the fourth quarter. Larson Financial Group LLC now owns 318 shares of the company’s stock worth $37,000 after buying an additional 224 shares during the last quarter. Finally, R Squared Ltd bought a new position in shares of Chord Energy in the fourth quarter worth approximately $51,000. Hedge funds and other institutional investors own 97.76% of the company’s stock.

Analyst Upgrades and Downgrades

CHRD has been the subject of a number of recent analyst reports. Bank of America upgraded shares of Chord Energy from a “neutral” rating to a “buy” rating and decreased their price objective for the stock from $125.00 to $114.00 in a report on Tuesday. Truist Financial boosted their price target on Chord Energy from $185.00 to $186.00 and gave the stock a “buy” rating in a research note on Monday, January 13th. Wolfe Research raised Chord Energy from a “peer perform” rating to an “outperform” rating and set a $155.00 price objective on the stock in a research report on Friday, January 3rd. Wells Fargo & Company decreased their target price on Chord Energy from $166.00 to $158.00 and set an “overweight” rating for the company in a research report on Tuesday, April 15th. Finally, Morgan Stanley set a $139.00 price target on shares of Chord Energy and gave the company a “cautious” rating in a report on Wednesday, March 26th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $156.08.

Chord Energy Stock Performance

Shares of NASDAQ CHRD opened at $92.08 on Friday. 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 Co. has a 12-month low of $79.83 and a 12-month high of $188.02. The firm has a market capitalization of $5.48 billion, a price-to-earnings ratio of 4.74, a price-to-earnings-growth ratio of 5.83 and a beta of 0.96. The firm has a 50 day moving average of $100.78 and a 200 day moving average of $114.24.

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. This represents a $5.20 annualized dividend and a dividend yield of 5.65%. This is a positive change from Chord Energy’s previous quarterly dividend of $1.25. The ex-dividend date of this dividend was Tuesday, March 11th. Chord Energy’s dividend payout ratio 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.