AMF Tjanstepension AB Purchases Shares of 25,325 Chord Energy Co. (NASDAQ:CHRD)

AMF Tjanstepension AB purchased a new stake in shares of Chord Energy Co. (NASDAQ:CHRD) in the 4th quarter, Holdings Channel reports. The institutional investor purchased 25,325 shares of the company’s stock, valued at approximately $2,966,000.

Several other institutional investors have also added to or reduced their stakes in CHRD. Wealth Enhancement Advisory Services LLC boosted its position in Chord Energy by 10.5% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 2,181 shares of the company’s stock valued at $284,000 after buying an additional 207 shares during the period. Janney Montgomery Scott LLC raised its holdings in Chord Energy by 12.2% in the 3rd quarter. Janney Montgomery Scott LLC now owns 19,621 shares of the company’s stock worth $2,555,000 after purchasing an additional 2,129 shares in the last quarter. Verity Asset Management Inc. bought a new position in Chord Energy in the 3rd quarter worth $284,000. AIA Group Ltd raised its holdings in Chord Energy by 9.9% in the 3rd quarter. AIA Group Ltd now owns 3,343 shares of the company’s stock worth $435,000 after purchasing an additional 301 shares in the last quarter. Finally, Seascape Capital Management raised its holdings in Chord Energy by 18.5% in the 3rd quarter. Seascape Capital Management now owns 16,725 shares of the company’s stock worth $2,178,000 after purchasing an additional 2,612 shares in the last quarter. Hedge funds and other institutional investors own 97.76% of the company’s stock.

Chord Energy Stock Up 1.2 %

NASDAQ:CHRD opened at $103.63 on Friday. The firm has a market cap of $6.18 billion, a P/E ratio of 5.34, a P/E/G 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 Co. has a fifty-two week low of $99.40 and a fifty-two week high of $190.23. The firm has a 50-day simple moving average of $115.54 and a two-hundred day simple moving average of $125.06.

Chord Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 26th. Shareholders of record on Tuesday, March 11th will be paid 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 dividend on an annualized basis and a yield of 5.02%. The ex-dividend date of this dividend is Tuesday, March 11th. Chord Energy’s dividend payout ratio (DPR) is currently 32.62%.

Analyst Upgrades and Downgrades

Several research analysts have commented on CHRD shares. Royal Bank of Canada decreased their price objective on shares of Chord Energy from $185.00 to $180.00 and set an “outperform” rating for the company in a report on Wednesday, November 20th. Truist Financial upped their price objective on shares of Chord Energy from $185.00 to $186.00 and gave the stock a “buy” rating in a report on Monday, January 13th. Wells Fargo & Company decreased their price objective on shares of Chord Energy from $176.00 to $175.00 and set an “overweight” rating for the company in a report on Wednesday, January 15th. UBS Group decreased their price objective on shares of Chord Energy from $168.00 to $161.00 and set a “buy” rating for the company in a report on Monday, December 9th. Finally, Bank of America reiterated a “neutral” rating and issued a $138.00 price target (down from $208.00) on shares of Chord Energy in a research note on Monday, January 13th. Three equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Chord Energy currently has an average rating of “Moderate Buy” and an average target price of $165.42.

Insider Buying and Selling at Chord Energy

In other Chord Energy news, CAO Shannon Browning Kinney sold 1,000 shares of the firm’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $116.35, for a total transaction of $116,350.00. Following the completion of the sale, the chief accounting officer now directly owns 19,488 shares in the company, valued at approximately $2,267,428.80. This trade represents a 4.88 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.70% of the stock is owned by company insiders.

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.