Catalyst Funds Management Pty Ltd Makes New $1.09 Million Investment in Chord Energy Co. (NASDAQ:CHRD)

Catalyst Funds Management Pty Ltd purchased a new position in Chord Energy Co. (NASDAQ:CHRD) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 9,300 shares of the company’s stock, valued at approximately $1,087,000.

Other hedge funds have also modified their holdings of the company. Crossmark Global Holdings Inc. boosted its position in shares of Chord Energy by 58.6% during the third quarter. Crossmark Global Holdings Inc. now owns 5,769 shares of the company’s stock worth $751,000 after acquiring an additional 2,131 shares during the last quarter. GSA Capital Partners LLP bought a new position in shares of Chord Energy during the third quarter worth $218,000. Sumitomo Mitsui Trust Group Inc. boosted its position in shares of Chord Energy by 0.7% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 117,273 shares of the company’s stock worth $15,272,000 after acquiring an additional 792 shares during the last quarter. Empowered Funds LLC boosted its position in shares of Chord Energy by 58.0% during the third quarter. Empowered Funds LLC now owns 30,825 shares of the company’s stock worth $4,014,000 after acquiring an additional 11,321 shares during the last quarter. Finally, Swiss National Bank boosted its position in shares of Chord Energy by 0.6% during the third quarter. Swiss National Bank now owns 185,022 shares of the company’s stock worth $24,095,000 after acquiring an additional 1,100 shares during the last quarter. 97.76% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

CHRD has been the subject of a number of research reports. Mizuho dropped their target price on shares of Chord Energy from $192.00 to $178.00 and set an “outperform” rating for the company in a research report on Monday, December 16th. Wolfe Research upgraded shares of Chord Energy from a “peer perform” rating to an “outperform” rating and set a $155.00 target price for the company in a research report on Friday, January 3rd. Williams Trading set a $155.00 price objective on shares of Chord Energy in a research report on Wednesday, March 5th. Truist Financial increased their price objective 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. Finally, UBS Group lowered their price objective on shares of Chord Energy from $168.00 to $161.00 and set a “buy” rating for the company in a research report on Monday, December 9th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Chord Energy has a consensus rating of “Moderate Buy” and a consensus price target of $164.62.

Insider Activity

In related news, CAO Shannon Browning Kinney sold 1,000 shares of the firm’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $116.35, for a total value of $116,350.00. Following the transaction, the chief accounting officer now owns 19,488 shares of the company’s stock, valued at $2,267,428.80. This trade represents a 4.88 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.70% of the company’s stock.

Chord Energy Trading Up 2.8 %

Shares of CHRD opened at $106.21 on Friday. Chord Energy Co. has a twelve month low of $99.40 and a twelve month high of $190.23. The company has a market cap of $6.33 billion, a P/E ratio of 5.47, a P/E/G ratio of 5.83 and a beta of 0.98. The company has a current ratio of 0.93, a quick ratio of 0.89 and a debt-to-equity ratio of 0.10. The company’s fifty day simple moving average is $114.54 and its 200-day simple moving average is $123.82.

Chord Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 26th. Stockholders of record on Tuesday, March 11th will be paid a $1.30 dividend. The ex-dividend date is Tuesday, March 11th. This represents a $5.20 annualized dividend and a dividend yield of 4.90%. This is an increase from Chord Energy’s previous quarterly dividend of $1.25. Chord Energy’s dividend payout ratio is currently 32.62%.

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.