Resona Asset Management Co. Ltd. Makes New $1.10 Million Investment in Chord Energy Co. (NASDAQ:CHRD)

Resona Asset Management Co. Ltd. bought a new stake in Chord Energy Co. (NASDAQ:CHRD) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 9,373 shares of the company’s stock, valued at approximately $1,096,000.

A number of other hedge funds have also recently modified their holdings of CHRD. Brooklyn Investment Group acquired a new position in Chord Energy in the fourth quarter valued at $29,000. Twin Tree Management LP acquired a new stake in shares of Chord Energy in the 4th quarter valued at about $33,000. Larson Financial Group LLC grew its stake in Chord Energy by 238.3% during the 4th quarter. Larson Financial Group LLC now owns 318 shares of the company’s stock worth $37,000 after buying an additional 224 shares during the last quarter. R Squared Ltd acquired a new position in Chord Energy during the fourth quarter worth approximately $51,000. Finally, Venturi Wealth Management LLC lifted its stake in Chord Energy by 1,751.9% in the fourth quarter. Venturi Wealth Management LLC now owns 500 shares of the company’s stock valued at $58,000 after buying an additional 473 shares during the last quarter. 97.76% of the stock is owned by hedge funds and other institutional investors.

Chord Energy Stock Down 9.6 %

Chord Energy stock opened at $85.89 on Friday. The stock’s 50 day moving average price is $106.56 and its 200 day moving average price is $118.31. Chord Energy Co. has a 1-year low of $79.83 and a 1-year high of $190.23. The company has a market cap of $5.11 billion, a PE ratio of 4.42, a price-to-earnings-growth ratio of 5.83 and a beta of 0.96. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.93 and a quick ratio of 0.89.

Chord Energy Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 26th. Shareholders of record on Tuesday, March 11th were given a dividend of $1.30 per share. This is a positive change from Chord Energy’s previous quarterly dividend of $1.25. This represents a $5.20 annualized dividend and a dividend yield of 6.05%. The ex-dividend date was Tuesday, March 11th. Chord Energy’s payout ratio is presently 32.62%.

Analyst Ratings Changes

CHRD has been the topic of a number of recent research reports. Piper Sandler cut their target price on shares of Chord Energy from $193.00 to $184.00 and set an “overweight” rating on the stock in a report on Thursday, March 6th. Wells Fargo & Company dropped their price objective on shares of Chord Energy from $175.00 to $166.00 and set an “overweight” rating on the stock in a research note on Monday, March 24th. Truist Financial increased their target price on shares of Chord Energy from $185.00 to $186.00 and gave the stock a “buy” rating in a research note on Monday, January 13th. Morgan Stanley set a $139.00 price target on Chord Energy and gave the company a “cautious” rating in a research report on Wednesday, March 26th. Finally, Mizuho decreased their price objective on Chord Energy from $192.00 to $178.00 and set an “outperform” rating for the company in a research report on Monday, December 16th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $160.31.

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.