Teachers Retirement System of The State of Kentucky purchased a new position in shares of Chord Energy Co. (NASDAQ:CHRD – Get Rating) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 15,420 shares of the company’s stock, valued at approximately $2,110,000.
Other institutional investors and hedge funds have also made changes to their positions in the company. Russell Investments Group Ltd. acquired a new position in Chord Energy during the fourth quarter worth $13,387,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in Chord Energy during the fourth quarter worth about $760,000. MGO One Seven LLC acquired a new position in Chord Energy during the fourth quarter worth about $345,000. Silvercrest Asset Management Group LLC acquired a new position in Chord Energy during the fourth quarter worth about $5,631,000. Finally, Mackay Shields LLC acquired a new stake in Chord Energy in the fourth quarter valued at $18,888,000. 93.47% of the stock is currently owned by institutional investors and hedge funds.
Chord Energy Trading Down 0.6 %
Shares of CHRD stock opened at $151.67 on Friday. The firm has a market cap of $6.30 billion, a P/E ratio of 3.59, a PEG ratio of 0.38 and a beta of 1.36. Chord Energy Co. has a 1-year low of $93.35 and a 1-year high of $164.79. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.18 and a quick ratio of 1.13. The firm’s 50-day simple moving average is $144.58 and its 200-day simple moving average is $139.20.
Chord Energy (NASDAQ:CHRD – Get Rating) last posted its quarterly earnings results on Wednesday, May 3rd. The company reported $4.50 EPS for the quarter, beating the consensus estimate of $4.15 by $0.35. Chord Energy had a net margin of 43.37% and a return on equity of 23.51%. The firm had revenue of $896.52 million for the quarter, compared to analyst estimates of $729.67 million. As a group, equities analysts forecast that Chord Energy Co. will post 20.78 EPS for the current year.
Chord Energy Cuts Dividend
The business also recently disclosed a None dividend, which was paid on Tuesday, May 30th. Shareholders of record on Tuesday, May 16th were given a $3.22 dividend. This represents a yield of 3.5%. The ex-dividend date was Monday, May 15th. Chord Energy’s dividend payout ratio (DPR) is presently 11.85%.
Analyst Upgrades and Downgrades
CHRD has been the topic of several research reports. Piper Sandler lowered their target price on Chord Energy from $204.00 to $202.00 in a report on Tuesday, June 13th. Truist Financial lowered their price target on shares of Chord Energy from $252.00 to $246.00 in a research report on Monday, May 8th. Royal Bank of Canada reiterated an “outperform” rating and issued a $190.00 price target on shares of Chord Energy in a research report on Thursday, March 30th. Stifel Nicolaus lowered their price target on shares of Chord Energy from $182.00 to $176.00 in a research report on Tuesday, May 30th. Finally, Citigroup decreased their price objective on Chord Energy from $170.00 to $165.00 in a research note on Sunday, May 21st. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, Chord Energy has an average rating of “Moderate Buy” and a consensus price target of $186.38.
Insider Buying and Selling at Chord Energy
In other news, Director Lynn A. Peterson sold 3,000 shares of Chord Energy stock in a transaction dated Monday, April 17th. The stock was sold at an average price of $144.94, for a total transaction of $434,820.00. Following the sale, the director now directly owns 238,098 shares of the company’s stock, valued at $34,509,924.12. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders have sold 9,000 shares of company stock valued at $1,282,590 over the last three months. 0.52% of the stock is owned by company insiders.
Chord Energy Company Profile
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Chord Energy Corporation operates as an independent exploration and production company. It acquires, exploits, develops, and explores for crude oil, natural gas, and natural gas liquids in the Williston Basin. The company was founded in 2007 and is headquartered in Houston, Texas.
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