Zurcher Kantonalbank Zurich Cantonalbank Buys 1,300 Shares of Chord Energy Co. (NASDAQ:CHRD)

Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Chord Energy Co. (NASDAQ:CHRD) by 15.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 9,874 shares of the company’s stock after purchasing an additional 1,300 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Chord Energy were worth $1,641,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the stock. Cornercap Investment Counsel Inc. lifted its holdings in shares of Chord Energy by 64.1% in the fourth quarter. Cornercap Investment Counsel Inc. now owns 12,418 shares of the company’s stock worth $2,064,000 after buying an additional 4,850 shares in the last quarter. Strs Ohio increased its stake in Chord Energy by 14.0% in the fourth quarter. Strs Ohio now owns 6,500 shares of the company’s stock valued at $1,080,000 after acquiring an additional 800 shares during the last quarter. Phocas Financial Corp. lifted its stake in Chord Energy by 1.2% during the fourth quarter. Phocas Financial Corp. now owns 36,862 shares of the company’s stock worth $6,128,000 after purchasing an additional 426 shares during the last quarter. Louisiana State Employees Retirement System purchased a new position in shares of Chord Energy in the 4th quarter worth about $1,928,000. Finally, VAUGHAN & Co SECURITIES INC. bought a new position in shares of Chord Energy during the 4th quarter valued at about $695,000. Hedge funds and other institutional investors own 97.76% of the company’s stock.

Insider Activity

In related news, CFO Michael H. Lou sold 3,000 shares of the stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $154.15, for a total value of $462,450.00. Following the completion of the transaction, the chief financial officer now directly owns 131,209 shares of the company’s stock, valued at $20,225,867.35. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.70% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on CHRD. Mizuho boosted their target price on Chord Energy from $189.00 to $195.00 and gave the stock a “buy” rating in a research report on Thursday, March 14th. Truist Financial cut their price objective on shares of Chord Energy from $229.00 to $224.00 and set a “buy” rating for the company in a research note on Friday, April 5th. Stifel Nicolaus lifted their target price on shares of Chord Energy from $178.00 to $211.00 and gave the stock a “buy” rating in a research report on Tuesday, February 27th. Piper Sandler upped their price target on shares of Chord Energy from $219.00 to $230.00 and gave the company an “overweight” rating in a research report on Friday, April 19th. Finally, Bank of America downgraded Chord Energy from a “buy” rating to an “underperform” rating and decreased their price objective for the stock from $177.00 to $165.00 in a report on Friday, January 5th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $191.50.

Chord Energy Stock Up 0.3 %

Shares of NASDAQ:CHRD opened at $183.59 on Thursday. Chord Energy Co. has a 1 year low of $133.34 and a 1 year high of $190.23. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.22 and a quick ratio of 1.16. The stock’s 50-day moving average is $171.57 and its 200 day moving average is $165.04. The company has a market cap of $7.63 billion, a PE ratio of 7.80 and a beta of 1.06.

Chord Energy (NASDAQ:CHRD) last announced its earnings results on Wednesday, February 21st. The company reported $5.25 EPS for the quarter, beating analysts’ consensus estimates of $5.04 by $0.21. Chord Energy had a return on equity of 16.35% and a net margin of 26.27%. The company had revenue of $964.69 million during the quarter, compared to the consensus estimate of $891.67 million. Sell-side analysts anticipate that Chord Energy Co. will post 21.6 EPS for the current year.

Chord Energy Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 19th. Stockholders of record on Tuesday, March 5th were paid a dividend of $3.25 per share. This is a positive change from Chord Energy’s previous quarterly dividend of $1.25. The ex-dividend date of this dividend was Monday, March 4th. This represents a $13.00 dividend on an annualized basis and a dividend yield of 7.08%. Chord Energy’s payout ratio is presently 21.25%.

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.