AMF Tjanstepension AB Takes Position in Chord Energy Co. (NASDAQ:CHRD)

AMF Tjanstepension AB purchased a new stake in Chord Energy Co. (NASDAQ:CHRD) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 25,325 shares of the company’s stock, valued at approximately $2,966,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Stone House Investment Management LLC bought a new stake in shares of Chord Energy in the third quarter valued at approximately $26,000. Brooklyn Investment Group bought a new stake in shares of Chord Energy in the fourth quarter valued at approximately $29,000. R Squared Ltd bought a new stake in shares of Chord Energy in the fourth quarter valued at approximately $51,000. Venturi Wealth Management LLC raised its position in shares of 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 purchasing an additional 473 shares during the period. Finally, Union Bancaire Privee UBP SA bought a new stake in shares of Chord Energy in the fourth quarter valued at approximately $77,000. Institutional investors own 97.76% of the company’s stock.

Insider Activity

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

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Wolfe Research raised shares of Chord Energy from a “peer perform” rating to an “outperform” rating and set a $155.00 target price on the stock in a report on Friday, January 3rd. Piper Sandler decreased 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. Royal Bank of Canada decreased their target price on shares of Chord Energy from $185.00 to $180.00 and set an “outperform” rating on the stock in a report on Wednesday, November 20th. Citigroup decreased their target price on shares of Chord Energy from $160.00 to $135.00 and set a “buy” rating on the stock in a report on Tuesday, March 4th. Finally, Bank of America reaffirmed a “neutral” rating and set a $138.00 target price (down previously from $208.00) on shares of Chord Energy in a report on Monday, January 13th. Three analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Chord Energy presently has an average rating of “Moderate Buy” and a consensus price target of $165.42.

Chord Energy Price Performance

CHRD stock opened at $103.63 on Friday. 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 Co. has a one year low of $99.40 and a one year high of $190.23. The stock has a market cap of $6.18 billion, a PE ratio of 5.34, a P/E/G ratio of 5.83 and a beta of 0.98. 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 firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 26th. Stockholders of record on Tuesday, March 11th will be paid a $1.30 dividend. This is a boost from Chord Energy’s previous quarterly dividend of $1.25. The ex-dividend date is Tuesday, March 11th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 5.02%. Chord Energy’s dividend payout ratio is 32.62%.

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.