KLP Kapitalforvaltning AS Acquires Shares of 14,942 Chord Energy Co. (NASDAQ:CHRD)

KLP Kapitalforvaltning AS bought a new position in shares of Chord Energy Co. (NASDAQ:CHRD) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm bought 14,942 shares of the company’s stock, valued at approximately $1,747,000.

Several other hedge funds also recently made changes to their positions in the company. Commerce Bank lifted its stake in Chord Energy by 4.3% during the third quarter. Commerce Bank now owns 2,361 shares of the company’s stock worth $307,000 after purchasing an additional 98 shares during the last quarter. Daiwa Securities Group Inc. raised its holdings in shares of Chord Energy by 4.5% during the third quarter. Daiwa Securities Group Inc. now owns 4,600 shares of the company’s stock worth $599,000 after purchasing an additional 200 shares during the period. FMR LLC lifted its position in shares of Chord Energy by 2.2% in the 3rd quarter. FMR LLC now owns 3,420,012 shares of the company’s stock worth $445,388,000 after buying an additional 74,165 shares during the last quarter. Quantbot Technologies LP boosted its holdings in shares of Chord Energy by 354.6% in the 3rd quarter. Quantbot Technologies LP now owns 10,584 shares of the company’s stock valued at $1,378,000 after buying an additional 8,256 shares during the period. Finally, Townsquare Capital LLC boosted its holdings in shares of Chord Energy by 55.7% in the 3rd quarter. Townsquare Capital LLC now owns 2,199 shares of the company’s stock valued at $286,000 after buying an additional 787 shares during the period. Institutional investors and hedge funds own 97.76% of the company’s stock.

Analyst Ratings Changes

CHRD has been the topic of a number of recent research reports. Wells Fargo & Company cut their target price on shares of Chord Energy from $175.00 to $166.00 and set an “overweight” rating on the stock in a report on Monday. Morgan Stanley set a $139.00 price objective on Chord Energy and gave the stock a “cautious” rating in a research note on Wednesday. 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 price target on the stock in a report on Friday, January 3rd. Finally, Truist Financial lifted their price objective on shares of Chord Energy from $185.00 to $186.00 and gave the company a “buy” rating in a research note on Monday, January 13th. Two analysts have rated the stock with a sell rating, two have given a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $162.46.

Chord Energy Trading Down 1.4 %

Chord Energy stock opened at $112.14 on Friday. Chord Energy Co. has a 1 year low of $99.40 and a 1 year high of $190.23. The firm’s 50 day moving average price is $111.82 and its two-hundred day moving average price is $121.46. The firm has a market cap of $6.67 billion, a price-to-earnings ratio of 5.77, a price-to-earnings-growth ratio of 5.83 and a beta of 0.98. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.89 and a current ratio of 0.93.

Chord Energy Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 26th. Stockholders of record on Tuesday, March 11th were given a dividend of $1.30 per share. The ex-dividend date was Tuesday, March 11th. This is a positive change from Chord Energy’s previous quarterly dividend of $1.25. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.64%. Chord Energy’s payout ratio is 32.62%.

Chord Energy Company 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.