KLP Kapitalforvaltning AS Purchases New Holdings in Chord Energy Co. (NASDAQ:CHRD)

KLP Kapitalforvaltning AS acquired a new position in shares of Chord Energy Co. (NASDAQ:CHRD) during the 4th quarter, HoldingsChannel.com reports. The institutional investor acquired 14,942 shares of the company’s stock, valued at approximately $1,747,000.

Other large investors also recently added to or reduced their stakes in the company. Commerce Bank grew its holdings in shares of Chord Energy by 4.3% during the third quarter. Commerce Bank now owns 2,361 shares of the company’s stock valued at $307,000 after buying an additional 98 shares in the last quarter. Daiwa Securities Group Inc. boosted its position in Chord Energy by 4.5% during the 3rd quarter. Daiwa Securities Group Inc. now owns 4,600 shares of the company’s stock worth $599,000 after acquiring an additional 200 shares during the period. FMR LLC grew its stake in Chord Energy by 2.2% during the 3rd quarter. FMR LLC now owns 3,420,012 shares of the company’s stock valued at $445,388,000 after acquiring an additional 74,165 shares in the last quarter. Quantbot Technologies LP grew its stake in Chord Energy by 354.6% during the 3rd quarter. Quantbot Technologies LP now owns 10,584 shares of the company’s stock valued at $1,378,000 after acquiring an additional 8,256 shares in the last quarter. Finally, Townsquare Capital LLC increased 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 purchasing an additional 787 shares during the period. 97.76% of the stock is owned by institutional investors and hedge funds.

Chord Energy Stock Performance

Shares of NASDAQ CHRD opened at $112.14 on Friday. The business’s 50-day simple moving average is $111.82 and its 200-day simple moving average is $121.46. Chord Energy Co. has a 52 week low of $99.40 and a 52 week high of $190.23. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.89 and a current ratio of 0.93. The firm has a market cap of $6.67 billion, a price-to-earnings ratio of 5.77, a P/E/G ratio of 5.83 and a beta of 0.98.

Chord Energy Increases Dividend

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

Analyst Upgrades and Downgrades

Several research firms recently commented on CHRD. Bank of America restated a “neutral” rating and set a $138.00 price target (down from $208.00) on shares of Chord Energy in a report on Monday, January 13th. Citigroup lowered shares of Chord Energy to a “reduce” rating in a research note on Wednesday, March 5th. Williams Trading set a $155.00 price target on shares of Chord Energy in a research note on Wednesday, March 5th. Wolfe Research raised Chord Energy from a “peer perform” rating to an “outperform” rating and set a $155.00 price objective for the company in a research report on Friday, January 3rd. Finally, Morgan Stanley set a $139.00 target price on Chord Energy and gave the company a “cautious” rating in a research note on Wednesday. Two research analysts have rated the stock with a sell rating, two have issued a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $162.46.

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.