Catalyst Funds Management Pty Ltd Buys Shares of 9,300 Chord Energy Co. (NASDAQ:CHRD)

Catalyst Funds Management Pty Ltd acquired a new stake in shares of Chord Energy Co. (NASDAQ:CHRD - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 9,300 shares of the company's stock, valued at approximately $1,087,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CHRD. Crossmark Global Holdings Inc. raised its stake in Chord Energy by 58.6% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 5,769 shares of the company's stock valued at $751,000 after acquiring an additional 2,131 shares during the last quarter. GSA Capital Partners LLP purchased a new stake in Chord Energy during the 3rd quarter valued at approximately $218,000. Sumitomo Mitsui Trust Group Inc. raised its stake in Chord Energy by 0.7% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 117,273 shares of the company's stock valued at $15,272,000 after acquiring an additional 792 shares during the last quarter. Empowered Funds LLC raised its stake in Chord Energy by 58.0% during the 3rd quarter. Empowered Funds LLC now owns 30,825 shares of the company's stock valued at $4,014,000 after acquiring an additional 11,321 shares during the last quarter. Finally, Swiss National Bank raised its stake in Chord Energy by 0.6% during the 3rd quarter. Swiss National Bank now owns 185,022 shares of the company's stock valued at $24,095,000 after acquiring an additional 1,100 shares during the last quarter. 97.76% of the stock is owned by hedge funds and other institutional investors.

Chord Energy Stock Up 2.2 %

NASDAQ:CHRD traded up $2.41 during mid-day trading on Wednesday, reaching $111.13. The stock had a trading volume of 889,739 shares, compared to its average volume of 909,107. The company has a market capitalization of $6.63 billion, a price-to-earnings ratio of 5.72, a price-to-earnings-growth ratio of 5.83 and a beta of 0.98. Chord Energy Co. has a 1-year low of $99.40 and a 1-year high of $190.23. The stock's 50 day simple moving average is $113.67 and its two-hundred day simple moving average is $122.59. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.93 and a quick ratio of 0.89.

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Chord Energy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 26th. Investors of record on Tuesday, March 11th will be paid a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a yield of 4.68%. This is an increase from Chord Energy's previous quarterly dividend of $1.25. The ex-dividend date is Tuesday, March 11th. Chord Energy's dividend payout ratio (DPR) is 32.62%.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on CHRD shares. UBS Group cut their target price on Chord Energy from $168.00 to $161.00 and set a "buy" rating for the company in a research note on Monday, December 9th. Citigroup downgraded Chord Energy to a "reduce" rating in a research note on Wednesday, March 5th. Truist Financial increased their target price on Chord Energy from $185.00 to $186.00 and gave the stock a "buy" rating in a research note on Monday, January 13th. Royal Bank of Canada lowered their price target on Chord Energy from $185.00 to $180.00 and set an "outperform" rating on the stock in a report on Wednesday, November 20th. Finally, Wolfe Research upgraded Chord Energy from a "peer perform" rating to an "outperform" rating and set a $155.00 price target on the stock in a report on Friday, January 3rd. One analyst has rated the stock with a sell rating, three have assigned a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $164.62.

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.