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

Resona Asset Management Co. Ltd. bought a new position in Chord Energy Co. (NASDAQ:CHRD) in the fourth quarter, according to its most recent disclosure with the SEC. The firm bought 9,373 shares of the company’s stock, valued at approximately $1,096,000.

Other institutional investors have also modified their holdings of the company. HighTower Advisors LLC grew its position in Chord Energy by 58.7% in the third quarter. HighTower Advisors LLC now owns 6,821 shares of the company’s stock worth $899,000 after acquiring an additional 2,522 shares during the period. Quantinno Capital Management LP acquired a new stake in shares of Chord Energy during the 3rd quarter worth about $201,000. EP Wealth Advisors LLC acquired a new position in Chord Energy in the third quarter valued at about $424,000. XTX Topco Ltd boosted its stake in Chord Energy by 81.1% during the third quarter. XTX Topco Ltd now owns 3,237 shares of the company’s stock worth $422,000 after buying an additional 1,450 shares during the period. Finally, MML Investors Services LLC increased its position in shares of Chord Energy by 7.5% during the third quarter. MML Investors Services LLC now owns 11,733 shares of the company’s stock valued at $1,528,000 after acquiring an additional 821 shares during the last quarter. Hedge funds and other institutional investors own 97.76% of the company’s stock.

Analyst Ratings Changes

CHRD has been the subject of a number of research analyst reports. Citigroup lowered their price objective on shares of Chord Energy from $135.00 to $120.00 and set a “buy” rating for the company in a research report on Monday. Williams Trading set a $155.00 price objective on Chord Energy in a research note on Wednesday, March 5th. Piper Sandler decreased their target price on Chord Energy from $193.00 to $184.00 and set an “overweight” rating on the stock in a research note on Thursday, March 6th. Morgan Stanley set a $139.00 price target on shares of Chord Energy and gave the stock a “cautious” rating in a research note on Wednesday, March 26th. Finally, Truist Financial increased their price target on shares of Chord Energy from $185.00 to $186.00 and gave the stock a “buy” rating in a research report on Monday, January 13th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $160.31.

Chord Energy Price Performance

Shares of CHRD opened at $85.89 on Friday. The firm has a market capitalization of $5.11 billion, a price-to-earnings ratio of 4.42, a PEG ratio of 5.83 and a beta of 0.96. The firm’s fifty day simple moving average is $106.56 and its 200-day simple moving average is $118.31. Chord Energy Co. has a twelve month low of $79.83 and a twelve month high of $190.23. The company has a current ratio of 0.93, a quick ratio of 0.89 and a debt-to-equity ratio of 0.10.

Chord Energy Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 26th. Shareholders of record on Tuesday, March 11th were issued a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a yield of 6.05%. This is an increase from Chord Energy’s previous quarterly dividend of $1.25. The ex-dividend date was Tuesday, March 11th. Chord Energy’s 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.