Resona Asset Management Co. Ltd. bought a new position in shares of Chord Energy Co. (NASDAQ:CHRD - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 9,373 shares of the company's stock, valued at approximately $1,096,000.
Other institutional investors have also recently added to or reduced their stakes in the company. Natixis Advisors LLC purchased a new position in Chord Energy in the fourth quarter worth $1,191,000. Merit Financial Group LLC purchased a new position in Chord Energy in the fourth quarter valued at about $553,000. Geode Capital Management LLC increased its stake in Chord Energy by 3.0% in the 3rd 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 in the last quarter. JPMorgan Chase & Co. raised its holdings in Chord Energy by 3.3% during the fourth quarter. JPMorgan Chase & Co. now owns 263,288 shares of the company's stock worth $30,784,000 after purchasing an additional 8,455 shares during the last quarter. Finally, Kingsview Wealth Management LLC raised its holdings in Chord Energy by 55.3% during the fourth quarter. Kingsview Wealth Management LLC now owns 21,744 shares of the company's stock worth $2,542,000 after purchasing an additional 7,743 shares during the last quarter. Hedge funds and other institutional investors own 97.76% of the company's stock.
Chord Energy Stock Performance
Shares of NASDAQ CHRD traded up $0.64 during trading hours on Tuesday, hitting $89.16. 323,015 shares of the stock were exchanged, compared to its average volume of 965,342. Chord Energy Co. has a one year low of $79.83 and a one year high of $188.41. The company's 50 day moving average is $105.66 and its 200 day moving average is $117.65. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.93 and a quick ratio of 0.89. The firm has a market capitalization of $5.30 billion, a P/E ratio of 4.59, a P/E/G ratio of 5.83 and a beta of 0.96.
Chord Energy Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Wednesday, March 26th. Investors of record on Tuesday, March 11th were paid a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a dividend yield of 5.83%. This is a positive change from Chord Energy's previous quarterly dividend of $1.25. The ex-dividend date was Tuesday, March 11th. Chord Energy's dividend payout ratio is presently 32.62%.
Analyst Upgrades and Downgrades
Several research analysts recently issued reports on CHRD shares. Truist Financial lifted their price objective on Chord Energy from $185.00 to $186.00 and gave the stock a "buy" rating in a research report on Monday, January 13th. Royal Bank of Canada decreased their price target on shares of Chord Energy from $165.00 to $145.00 and set an "outperform" rating on the stock in a research note on Friday. Bank of America reduced their price target on Chord Energy from $138.00 to $125.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 1st. Morgan Stanley set a $139.00 price objective on Chord Energy and gave the company a "cautious" rating in a research report on Wednesday, March 26th. Finally, Wells Fargo & Company reduced their target price on Chord Energy from $166.00 to $158.00 and set an "overweight" rating on the stock in a research report on Tuesday. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $157.00.
Read Our Latest Analysis on CHRD
About Chord Energy
(
Free Report)
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.
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