Renaissance Technologies LLC Purchases 138,600 Shares of Chord Energy Co. (NASDAQ:CHRD)

Renaissance Technologies LLC lifted its holdings in Chord Energy Co. (NASDAQ:CHRD - Free Report) by 66.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 347,216 shares of the company's stock after buying an additional 138,600 shares during the period. Renaissance Technologies LLC owned about 0.57% of Chord Energy worth $40,596,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Shelton Capital Management increased its stake in Chord Energy by 38.9% in the fourth quarter. Shelton Capital Management now owns 2,335 shares of the company's stock worth $273,000 after purchasing an additional 654 shares during the period. Polymer Capital Management US LLC purchased a new position in shares of Chord Energy in the 4th quarter worth approximately $226,000. FMR LLC raised its stake in Chord Energy by 11.5% in the fourth quarter. FMR LLC now owns 3,814,384 shares of the company's stock valued at $445,978,000 after buying an additional 394,372 shares during the last quarter. Aster Capital Management DIFC Ltd raised its stake in Chord Energy by 1,280.1% in the 4th quarter. Aster Capital Management DIFC Ltd now owns 7,715 shares of the company's stock worth $902,000 after acquiring an additional 7,156 shares during the last quarter. Finally, Aviva PLC acquired a new stake in Chord Energy during the 4th quarter worth about $574,000. Hedge funds and other institutional investors own 97.76% of the company's stock.

Chord Energy Price Performance

Shares of NASDAQ CHRD traded up $3.53 during mid-day trading on Wednesday, reaching $91.93. The company had a trading volume of 157,722 shares, compared to its average volume of 964,080. Chord Energy Co. has a one year low of $79.83 and a one year high of $188.02. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.89 and a current ratio of 0.93. The business's 50-day simple moving average is $105.26 and its 200 day simple moving average is $117.45. The firm has a market cap of $5.47 billion, a price-to-earnings ratio of 4.73, a PEG ratio of 5.83 and a beta of 0.96.

Chord Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 26th. Shareholders of record on Tuesday, March 11th were paid a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a yield of 5.66%. The ex-dividend date of this dividend was Tuesday, March 11th. This is a boost from Chord Energy's previous quarterly dividend of $1.25. Chord Energy's dividend payout ratio (DPR) is 32.62%.

Analyst Ratings Changes

A number of analysts have issued reports on the company. Williams Trading set a $155.00 target price on Chord Energy in a research note on Wednesday, March 5th. Morgan Stanley set a $139.00 price objective on shares of Chord Energy and gave the company a "cautious" rating in a report on Wednesday, March 26th. Royal Bank of Canada cut their target price on shares of Chord Energy from $165.00 to $145.00 and set an "outperform" rating on the stock in a research note on Friday, April 11th. Citigroup reduced their target price on Chord Energy from $135.00 to $120.00 and set a "buy" rating for the company in a report on Monday, April 7th. Finally, Wolfe Research raised Chord Energy from a "peer perform" rating to an "outperform" rating and set a $155.00 price objective on the stock in a report on Friday, January 3rd. One research analyst has rated the stock with a sell rating, two have issued a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $157.00.

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.