Meiji Yasuda Asset Management Co Ltd. Makes New $416,000 Investment in Chord Energy Co. (NASDAQ:CHRD)

Meiji Yasuda Asset Management Co Ltd. bought a new stake in Chord Energy Co. (NASDAQ:CHRD) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 2,478 shares of the company’s stock, valued at approximately $416,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in CHRD. Janney Montgomery Scott LLC raised its stake in shares of Chord Energy by 2.8% during the fourth quarter. Janney Montgomery Scott LLC now owns 6,531 shares of the company’s stock worth $1,086,000 after buying an additional 175 shares during the last quarter. Quadrant Capital Group LLC lifted its stake in shares of Chord Energy by 94.3% in the 4th quarter. Quadrant Capital Group LLC now owns 406 shares of the company’s stock valued at $67,000 after purchasing an additional 197 shares during the period. Assetmark Inc. boosted its position in shares of Chord Energy by 23.4% in the 4th quarter. Assetmark Inc. now owns 1,206 shares of the company’s stock worth $200,000 after purchasing an additional 229 shares during the last quarter. Neuberger Berman Group LLC grew its stake in shares of Chord Energy by 13.9% during the fourth quarter. Neuberger Berman Group LLC now owns 6,012 shares of the company’s stock worth $999,000 after purchasing an additional 732 shares during the period. Finally, Parallel Advisors LLC increased its holdings in Chord Energy by 26.3% in the fourth quarter. Parallel Advisors LLC now owns 1,200 shares of the company’s stock valued at $199,000 after purchasing an additional 250 shares during the last quarter. Institutional investors own 97.76% of the company’s stock.

Insider Activity at Chord Energy

In other news, Director Samantha Holroyd purchased 500 shares of the company’s stock in a transaction on Friday, August 23rd. The shares were purchased at an average cost of $149.51 per share, with a total value of $74,755.00. Following the completion of the transaction, the director now owns 14,417 shares of the company’s stock, valued at approximately $2,155,485.67. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.70% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on CHRD shares. Truist Financial decreased their target price on Chord Energy from $226.00 to $223.00 and set a “buy” rating for the company in a research report on Monday, July 22nd. Wolfe Research initiated coverage on shares of Chord Energy in a research note on Thursday, July 18th. They issued a “peer perform” rating for the company. Citigroup reduced their price target on shares of Chord Energy from $195.00 to $180.00 and set a “buy” rating on the stock in a research report on Monday, August 12th. Jefferies Financial Group started coverage on Chord Energy in a research note on Thursday, September 5th. They set a “hold” rating and a $160.00 price objective on the stock. Finally, Bank of America increased their price target on Chord Energy from $201.00 to $208.00 and gave the stock a “buy” rating in a report on Wednesday, August 21st. Two investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $202.10.

Chord Energy Stock Up 0.3 %

NASDAQ:CHRD opened at $136.73 on Friday. The stock has a 50-day simple moving average of $152.80 and a 200 day simple moving average of $167.18. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.91 and a current ratio of 0.96. The company has a market cap of $5.70 billion, a PE ratio of 6.42, a PEG ratio of 4.48 and a beta of 0.99. Chord Energy Co. has a 52-week low of $129.75 and a 52-week high of $190.23.

Chord Energy (NASDAQ:CHRD) last announced its quarterly earnings data on Wednesday, August 7th. The company reported $4.69 earnings per share for the quarter, missing the consensus estimate of $5.00 by ($0.31). Chord Energy had a net margin of 20.83% and a return on equity of 15.06%. The company had revenue of $902.70 million during the quarter, compared to the consensus estimate of $982.43 million. During the same quarter in the previous year, the business earned $3.65 EPS. Chord Energy’s revenue was up 29.8% on a year-over-year basis. On average, sell-side analysts expect that Chord Energy Co. will post 19.67 EPS for the current fiscal year.

Chord Energy Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 5th. Stockholders of record on Wednesday, August 21st were issued a $1.25 dividend. This represents a $5.00 annualized dividend and a dividend yield of 3.66%. The ex-dividend date of this dividend was Wednesday, August 21st. Chord Energy’s payout ratio is presently 23.46%.

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.