State of New Jersey Common Pension Fund D Reduces Stock Position in Chord Energy Co. (NASDAQ:CHRD)

State of New Jersey Common Pension Fund D cut its stake in Chord Energy Co. (NASDAQ:CHRD) by 5.5% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 21,029 shares of the company’s stock after selling 1,229 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Chord Energy were worth $3,496,000 at the end of the most recent reporting period.

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

Insider Buying and Selling at Chord Energy

In other news, CFO Michael H. Lou sold 3,000 shares of the firm’s stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $154.15, for a total value of $462,450.00. Following the transaction, the chief financial officer now owns 131,209 shares of the company’s stock, valued at approximately $20,225,867.35. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.70% of the stock is owned by company insiders.

Chord Energy Stock Up 0.5 %

Shares of CHRD 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’s fifty day moving average is $172.98 and its two-hundred day moving average is $165.46. Chord Energy Co. has a fifty-two week low of $133.34 and a fifty-two week high of $190.23. The company has a quick ratio of 1.16, a current ratio of 1.22 and a debt-to-equity ratio of 0.08.

Chord Energy (NASDAQ:CHRD) last announced its quarterly earnings results on Wednesday, February 21st. The company reported $5.25 earnings per share for the quarter, beating analysts’ consensus estimates of $5.04 by $0.21. The company 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%. Analysts forecast that Chord Energy Co. will post 22.03 earnings per share for the current year.

Chord Energy Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 19th. Shareholders of record on Tuesday, March 5th were issued a $3.25 dividend. This represents a $13.00 dividend on an annualized basis 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 dividend payout ratio (DPR) is 21.25%.

Analyst Upgrades and Downgrades

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

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.