Pilgrim Partners Asia Pte Ltd Buys Shares of 680 Chord Energy Co. (NASDAQ:CHRD)

Pilgrim Partners Asia Pte Ltd purchased a new position in Chord Energy Co. (NASDAQ:CHRD) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 680 shares of the company’s stock, valued at approximately $80,000.

Other hedge funds also recently made changes to their positions in the company. Townsquare Capital LLC increased its stake in Chord Energy by 55.7% in the 3rd quarter. Townsquare Capital LLC now owns 2,199 shares of the company’s stock worth $286,000 after acquiring an additional 787 shares during the last quarter. Benjamin Edwards Inc. raised its position in Chord Energy by 61.3% during the third quarter. Benjamin Edwards Inc. now owns 3,117 shares of the company’s stock valued at $407,000 after purchasing an additional 1,184 shares in the last quarter. HighTower Advisors LLC boosted its holdings in shares of Chord Energy by 58.7% in the 3rd quarter. HighTower Advisors LLC now owns 6,821 shares of the company’s stock worth $899,000 after purchasing an additional 2,522 shares in the last quarter. Investment Management Corp of Ontario increased its position in shares of Chord Energy by 42.9% during the 3rd quarter. Investment Management Corp of Ontario now owns 2,000 shares of the company’s stock valued at $260,000 after purchasing an additional 600 shares during the last quarter. Finally, Quarry LP lifted its position in Chord Energy by 437.5% in the 3rd quarter. Quarry LP now owns 946 shares of the company’s stock worth $123,000 after buying an additional 770 shares during the last quarter. 97.76% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. UBS Group reduced their target price on shares of Chord Energy from $168.00 to $161.00 and set a “buy” rating on the stock in a report on Monday, December 9th. Morgan Stanley set a $139.00 target price on Chord Energy and gave the company a “cautious” rating in a report on Wednesday, March 26th. Williams Trading set a $155.00 price target on Chord Energy in a research note on Wednesday, March 5th. Wells Fargo & Company decreased their target price on shares of Chord Energy from $175.00 to $166.00 and set an “overweight” rating on the stock in a research note on Monday, March 24th. Finally, Mizuho dropped their price target 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. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $161.46.

Chord Energy Price Performance

CHRD opened at $87.82 on Friday. Chord Energy Co. has a 12-month low of $86.70 and a 12-month high of $190.23. The company has a market cap of $5.22 billion, a price-to-earnings ratio of 4.52, a price-to-earnings-growth 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 stock has a fifty day simple moving average of $109.83 and a two-hundred day simple moving average of $120.34.

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 given a dividend of $1.30 per share. This is a boost from Chord Energy’s previous quarterly dividend of $1.25. This represents a $5.20 dividend on an annualized basis and a yield of 5.92%. The ex-dividend date was Tuesday, March 11th. Chord Energy’s dividend payout ratio (DPR) is 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.