AMF Tjanstepension AB Takes $2.97 Million Position in Chord Energy Co. (NASDAQ:CHRD)

AMF Tjanstepension AB purchased a new position in shares of Chord Energy Co. (NASDAQ:CHRD - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 25,325 shares of the company's stock, valued at approximately $2,966,000.

Several other institutional investors also recently added to or reduced their stakes in CHRD. FMR LLC grew its position in shares of Chord Energy by 2.2% during the third quarter. FMR LLC now owns 3,420,012 shares of the company's stock worth $445,388,000 after acquiring an additional 74,165 shares during the last quarter. Victory Capital Management Inc. boosted its stake in Chord Energy by 27.6% during the 4th quarter. Victory Capital Management Inc. now owns 2,864,456 shares of the company's stock worth $334,912,000 after purchasing an additional 619,021 shares during the period. State Street Corp grew its position in Chord Energy by 0.9% during the 3rd quarter. State Street Corp now owns 2,485,777 shares of the company's stock worth $323,723,000 after purchasing an additional 22,753 shares during the last quarter. Pacer Advisors Inc. increased its stake in Chord Energy by 50.4% in the fourth quarter. Pacer Advisors Inc. now owns 1,872,156 shares of the company's stock valued at $218,892,000 after purchasing an additional 627,122 shares during the period. Finally, Geode Capital Management LLC increased its stake in Chord Energy by 3.0% in the third quarter. Geode Capital Management LLC now owns 1,162,442 shares of the company's stock valued at $151,077,000 after purchasing an additional 34,156 shares during the period. Institutional investors and hedge funds own 97.76% of the company's stock.

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Chord Energy Price Performance

Shares of NASDAQ CHRD traded up $2.78 during midday trading on Wednesday, hitting $106.00. The company had a trading volume of 1,042,657 shares, compared to its average volume of 877,548. The firm has a market capitalization of $6.32 billion, a price-to-earnings ratio of 5.46, a price-to-earnings-growth ratio of 5.83 and a beta of 0.98. Chord Energy Co. has a twelve month low of $99.40 and a twelve month high of $190.23. The business has a 50-day simple moving average of $115.07 and a two-hundred day simple moving average of $124.09. The company has a quick ratio of 0.89, a current ratio of 0.93 and a debt-to-equity ratio of 0.10.

Chord Energy Increases Dividend

The business also recently declared 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. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.91%. This is an increase from Chord Energy's previous quarterly dividend of $1.25. The ex-dividend date of this dividend is Tuesday, March 11th. Chord Energy's dividend payout ratio (DPR) is presently 32.62%.

Analysts Set New Price Targets

CHRD has been the topic of a number of research reports. Williams Trading set a $155.00 price target on Chord Energy in a report on Wednesday, March 5th. Bank of America reiterated a "neutral" rating and issued a $138.00 target price (down from $208.00) on shares of Chord Energy 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 target price on the stock in a report on Friday, January 3rd. Truist Financial increased their price target on Chord Energy from $185.00 to $186.00 and gave the stock a "buy" rating in a report on Monday, January 13th. Finally, Citigroup cut shares of Chord Energy to a "reduce" rating in a research note on Wednesday, March 5th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $164.62.

Insider Transactions at Chord Energy

In other news, CAO Shannon Browning Kinney sold 1,000 shares of Chord Energy stock in a transaction 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 completion of the transaction, the chief accounting officer now owns 19,488 shares of the company's stock, valued at $2,267,428.80. The trade was a 4.88 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.70% of the company's stock.

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.