Chord Energy Co. (NASDAQ:CHRD) Shares Sold by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D cut its holdings in shares of Chord Energy Co. (NASDAQ:CHRD) by 5.5% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 21,029 shares of the company’s stock after selling 1,229 shares during the period. State of New Jersey Common Pension Fund D owned approximately 0.05% of Chord Energy worth $3,496,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the business. Yousif Capital Management LLC boosted its holdings in Chord Energy by 1.7% in the 4th quarter. Yousif Capital Management LLC now owns 19,620 shares of the company’s stock worth $3,261,000 after buying an additional 334 shares during the last quarter. California Public Employees Retirement System boosted its holdings in Chord Energy by 4.1% in the 4th quarter. California Public Employees Retirement System now owns 78,852 shares of the company’s stock worth $13,108,000 after buying an additional 3,128 shares during the last quarter. Monument Capital Management acquired a new stake in Chord Energy in the 4th quarter worth about $2,035,000. Lindbrook Capital LLC boosted its holdings in Chord Energy by 67.6% in the 4th quarter. Lindbrook Capital LLC now owns 305 shares of the company’s stock worth $51,000 after buying an additional 123 shares during the last quarter. Finally, Knights of Columbus Asset Advisors LLC boosted its holdings in Chord Energy by 94.6% in the 4th quarter. Knights of Columbus Asset Advisors LLC now owns 35,335 shares of the company’s stock worth $5,874,000 after buying an additional 17,176 shares during the last quarter. 97.76% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms recently issued reports on CHRD. Mizuho lifted their price objective on Chord Energy from $189.00 to $195.00 and gave the stock a “buy” rating in a report on Thursday, March 14th. Bank of America cut Chord Energy from a “buy” rating to an “underperform” rating and lowered their price objective for the stock from $177.00 to $165.00 in a report on Friday, January 5th. Stifel Nicolaus boosted their target price on Chord Energy from $178.00 to $211.00 and gave the stock a “buy” rating in a report on Tuesday, February 27th. Truist Financial lowered their target price on Chord Energy from $229.00 to $224.00 and set a “buy” rating on the stock in a report on Friday, April 5th. Finally, Piper Sandler boosted their target price on Chord Energy from $219.00 to $230.00 and gave the stock an “overweight” rating in a report on Friday, April 19th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $191.50.

Chord Energy Stock Up 0.5 %

CHRD stock opened at $185.58 on Friday. The firm has a market cap of $7.71 billion, a PE ratio of 7.89 and a beta of 1.06. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.16 and a current ratio of 1.22. The firm’s 50 day moving average price is $172.98 and its 200-day moving average price is $165.46. Chord Energy Co. has a one year low of $133.34 and a one year high of $190.23.

Chord Energy (NASDAQ:CHRD) last released its quarterly earnings results on Wednesday, February 21st. The company reported $5.25 EPS for the quarter, beating the consensus estimate of $5.04 by $0.21. The firm had revenue of $964.69 million for the quarter, compared to analyst estimates of $891.67 million. Chord Energy had a net margin of 26.27% and a return on equity of 16.35%. On average, equities research analysts anticipate that Chord Energy Co. will post 22.03 EPS for the current year.

Chord Energy Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 19th. Stockholders of record on Tuesday, March 5th were given a dividend of $3.25 per share. This represents a $13.00 annualized dividend and a dividend yield of 7.01%. The ex-dividend date of this dividend was Monday, March 4th. This is a positive change from Chord Energy’s previous quarterly dividend of $1.25. Chord Energy’s payout ratio is presently 21.25%.

Insider Activity

In other Chord Energy news, CFO Michael H. Lou sold 3,000 shares of the business’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $165.00, for a total value of $495,000.00. Following the sale, the chief financial officer now owns 128,209 shares of the company’s stock, valued at $21,154,485. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.70% of the company’s stock.

Chord Energy 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.