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

Resona Asset Management Co. Ltd. acquired a new stake in Chord Energy Co. (NASDAQ:CHRD - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 9,373 shares of the company's stock, valued at approximately $1,096,000.

Several other large investors have also made changes to their positions in CHRD. World Investment Advisors purchased a new stake in Chord Energy in the 4th quarter worth $226,000. Cynosure Group LLC grew its position in shares of Chord Energy by 2.3% in the fourth quarter. Cynosure Group LLC now owns 8,149 shares of the company's stock valued at $953,000 after purchasing an additional 181 shares during the period. Bryce Point Capital LLC purchased a new stake in shares of Chord Energy during the fourth quarter worth about $479,000. Headlands Technologies LLC acquired a new position in shares of Chord Energy during the 4th quarter worth about $100,000. Finally, California Public Employees Retirement System raised its position in shares of Chord Energy by 2.1% during the 4th quarter. California Public Employees Retirement System now owns 107,404 shares of the company's stock worth $12,558,000 after purchasing an additional 2,172 shares during the last quarter. 97.76% of the stock is owned by institutional investors and hedge funds.

Chord Energy Stock Performance

Chord Energy stock traded up $3.50 during midday trading on Wednesday, hitting $91.90. 113,184 shares of the company's stock were exchanged, compared to its average volume of 963,907. 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 firm's 50 day simple moving average is $105.26 and its 200 day simple moving average is $117.45. Chord Energy Co. has a 12-month low of $79.83 and a 12-month high of $188.02. The stock has a market cap of $5.47 billion, a price-to-earnings ratio of 4.72, a price-to-earnings-growth ratio of 5.83 and a beta of 0.96.

Chord Energy Increases Dividend

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

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Citigroup lowered their target price on shares of Chord Energy from $135.00 to $120.00 and set a "buy" rating on the stock in a research note on Monday, April 7th. Williams Trading set a $155.00 price target on shares of Chord Energy in a research note on Wednesday, March 5th. Truist Financial lifted their price target on shares of Chord Energy from $185.00 to $186.00 and gave the company a "buy" rating in a research report on Monday, January 13th. Wolfe Research upgraded Chord Energy from a "peer perform" rating to an "outperform" rating and set a $155.00 price objective for the company in a research report on Friday, January 3rd. Finally, Piper Sandler reduced their target price on Chord Energy from $193.00 to $184.00 and set an "overweight" rating on the stock in a research report on Thursday, March 6th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Chord Energy presently has an average rating of "Moderate Buy" and an average price target of $157.00.

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.