Zurcher Kantonalbank Zurich Cantonalbank Acquires 4,245 Shares of Chord Energy Co. (NASDAQ:CHRD)

Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Chord Energy Co. (NASDAQ:CHRD) by 39.9% during the 4th quarter, HoldingsChannel reports. The firm owned 14,895 shares of the company’s stock after acquiring an additional 4,245 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Chord Energy were worth $1,742,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. Delta Capital Management LLC grew its stake in shares of Chord Energy by 4.3% in the fourth quarter. Delta Capital Management LLC now owns 2,200 shares of the company’s stock worth $257,000 after acquiring an additional 90 shares during the last quarter. Commerce Bank grew its stake in shares of Chord Energy by 4.3% in the third quarter. Commerce Bank now owns 2,361 shares of the company’s stock worth $307,000 after acquiring an additional 98 shares during the last quarter. Exchange Traded Concepts LLC grew its stake in shares of Chord Energy by 1.8% in the fourth quarter. Exchange Traded Concepts LLC now owns 6,145 shares of the company’s stock worth $718,000 after acquiring an additional 110 shares during the last quarter. Lindenwold Advisors INC grew its stake in shares of Chord Energy by 5.0% in the third quarter. Lindenwold Advisors INC now owns 2,523 shares of the company’s stock worth $329,000 after acquiring an additional 119 shares during the last quarter. Finally, Blue Trust Inc. grew its stake in shares of Chord Energy by 4.0% in the fourth quarter. Blue Trust Inc. now owns 3,334 shares of the company’s stock worth $390,000 after acquiring an additional 128 shares during the last quarter. 97.76% of the stock is currently owned by institutional investors.

Chord Energy Stock Up 1.3 %

NASDAQ CHRD opened at $107.63 on Tuesday. The stock’s 50-day moving average price is $114.24 and its 200-day moving average price is $123.16. The company has a quick ratio of 0.89, a current ratio of 0.93 and a debt-to-equity ratio of 0.10. Chord Energy Co. has a 52 week low of $99.40 and a 52 week high of $190.23. The company has a market capitalization of $6.42 billion, a P/E ratio of 5.54, a price-to-earnings-growth ratio of 5.83 and a beta of 0.98.

Chord Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 26th. Investors of record on Tuesday, March 11th will be given a dividend of $1.30 per share. The ex-dividend date is Tuesday, March 11th. This represents a $5.20 annualized dividend and a dividend yield of 4.83%. This is a boost from Chord Energy’s previous quarterly dividend of $1.25. Chord Energy’s dividend payout ratio (DPR) is currently 32.62%.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on CHRD shares. Wolfe Research raised Chord Energy from a “peer perform” rating to an “outperform” rating and set a $155.00 price target on the stock in a report on Friday, January 3rd. Citigroup downgraded Chord Energy to a “reduce” rating in a report on Wednesday, March 5th. Williams Trading set a $155.00 price target on Chord Energy in a report on Wednesday, March 5th. Piper Sandler lowered their price target on Chord Energy from $193.00 to $184.00 and set an “overweight” rating on the stock in a report on Thursday, March 6th. Finally, Morgan Stanley initiated coverage on Chord Energy in a report on Friday, January 10th. They set an “equal weight” rating and a $158.00 price target on the stock. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $164.62.

About Chord Energy

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.