Zurcher Kantonalbank Zurich Cantonalbank Purchases 1,300 Shares of Chord Energy Co. (NASDAQ:CHRD)

Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Chord Energy Co. (NASDAQ:CHRD) by 15.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 9,874 shares of the company’s stock after acquiring an additional 1,300 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Chord Energy were worth $1,641,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Cornercap Investment Counsel Inc. boosted its holdings in Chord Energy by 64.1% in the 4th quarter. Cornercap Investment Counsel Inc. now owns 12,418 shares of the company’s stock valued at $2,064,000 after purchasing an additional 4,850 shares during the period. Strs Ohio boosted its stake in shares of Chord Energy by 14.0% in the fourth quarter. Strs Ohio now owns 6,500 shares of the company’s stock valued at $1,080,000 after buying an additional 800 shares during the period. Phocas Financial Corp. boosted its stake in shares of Chord Energy by 1.2% in the fourth quarter. Phocas Financial Corp. now owns 36,862 shares of the company’s stock valued at $6,128,000 after buying an additional 426 shares during the period. Louisiana State Employees Retirement System acquired a new stake in Chord Energy during the fourth quarter worth approximately $1,928,000. Finally, VAUGHAN & Co SECURITIES INC. bought a new position in Chord Energy during the 4th quarter worth $695,000. 97.76% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CHRD has been the subject of a number of recent analyst reports. Truist Financial cut their target price on Chord Energy from $229.00 to $224.00 and set a “buy” rating for the company in a research report on Friday, April 5th. Bank of America lowered shares of Chord Energy from a “buy” rating to an “underperform” rating and decreased their target price for the company from $177.00 to $165.00 in a report on Friday, January 5th. Mizuho upped their price target on shares of Chord Energy from $189.00 to $195.00 and gave the stock a “buy” rating in a report on Thursday, March 14th. Stifel Nicolaus lifted their price objective on shares of Chord Energy from $178.00 to $211.00 and gave the company a “buy” rating in a research note on Tuesday, February 27th. Finally, Piper Sandler upped their target price on Chord Energy from $219.00 to $230.00 and gave the stock an “overweight” rating in a research note on Friday, April 19th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $191.50.

Chord Energy Stock Up 0.3 %

Shares of CHRD opened at $183.59 on Thursday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.16 and a current ratio of 1.22. Chord Energy Co. has a 52 week low of $133.34 and a 52 week high of $190.23. The stock has a market capitalization of $7.63 billion, a price-to-earnings ratio of 7.80 and a beta of 1.06. The stock has a fifty day moving average of $171.57 and a 200-day moving average of $165.04.

Chord Energy (NASDAQ:CHRD) last posted its earnings results on Wednesday, February 21st. The company reported $5.25 EPS for the quarter, beating the consensus estimate of $5.04 by $0.21. The firm had revenue of $964.69 million during the quarter, compared to the consensus estimate of $891.67 million. Chord Energy had a return on equity of 16.35% and a net margin of 26.27%. As a group, sell-side analysts anticipate that Chord Energy Co. will post 21.6 earnings per share for the current fiscal year.

Chord Energy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 19th. Investors of record on Tuesday, March 5th were given a dividend of $3.25 per share. The ex-dividend date was Monday, March 4th. This is an increase from Chord Energy’s previous quarterly dividend of $1.25. This represents a $13.00 annualized dividend and a yield of 7.08%. Chord Energy’s dividend payout ratio (DPR) is currently 21.25%.

Insiders Place Their Bets

In other news, CFO Michael H. Lou sold 3,000 shares of the firm’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $165.00, for a total transaction of $495,000.00. Following the completion of the transaction, the chief financial officer now owns 128,209 shares of the company’s stock, valued at $21,154,485. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.70% of the company’s stock.

About Chord Energy

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.