Ontario Teachers Pension Plan Board Acquires 20,846 Shares of Chord Energy Co. (NASDAQ:CHRD)

Ontario Teachers Pension Plan Board raised its holdings in shares of Chord Energy Co. (NASDAQ:CHRD) by 127.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 37,140 shares of the company’s stock after purchasing an additional 20,846 shares during the quarter. Ontario Teachers Pension Plan Board owned 0.09% of Chord Energy worth $6,174,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also bought and sold shares of the company. Contravisory Investment Management Inc. lifted its holdings in Chord Energy by 48.9% during the fourth quarter. Contravisory Investment Management Inc. now owns 259 shares of the company’s stock worth $43,000 after buying an additional 85 shares during the period. SRS Capital Advisors Inc. increased its position in shares of Chord Energy by 306.9% during the fourth quarter. SRS Capital Advisors Inc. now owns 293 shares of the company’s stock worth $49,000 after purchasing an additional 221 shares in the last quarter. Lindbrook Capital LLC increased its position in shares of Chord Energy by 67.6% in the 4th quarter. Lindbrook Capital LLC now owns 305 shares of the company’s stock valued at $51,000 after acquiring an additional 123 shares during the period. Viking Fund Management LLC increased its position in shares of Chord Energy by 40.0% in the 4th quarter. Viking Fund Management LLC now owns 350 shares of the company’s stock valued at $58,000 after acquiring an additional 100 shares during the period. Finally, Quadrant Capital Group LLC increased its position 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 acquiring an additional 197 shares during the period. Institutional investors own 97.76% of the company’s stock.

Analyst Ratings Changes

Several brokerages have weighed in on CHRD. Piper Sandler increased their price target on Chord Energy from $230.00 to $231.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 14th. Royal Bank of Canada increased their price target on Chord Energy from $180.00 to $200.00 and gave the stock an “outperform” rating in a research report on Monday, April 29th. Mizuho increased their price target on Chord Energy from $195.00 to $214.00 and gave the stock a “buy” rating in a research report on Monday, May 13th. Truist Financial lowered 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 note on Friday, April 5th. Finally, Stifel Nicolaus increased their target price on shares of Chord Energy from $178.00 to $211.00 and gave the stock a “buy” rating in a research note on Tuesday, February 27th. One equities research 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’s stock. According to data from MarketBeat.com, Chord Energy presently has an average rating of “Moderate Buy” and an average target price of $195.50.

Chord Energy Price Performance

Chord Energy stock traded down $2.71 during midday trading on Wednesday, reaching $177.68. The company had a trading volume of 592,145 shares, compared to its average volume of 665,754. The company has a market capitalization of $7.41 billion, a P/E ratio of 8.28 and a beta of 1.07. Chord Energy Co. has a 12-month low of $142.02 and a 12-month high of $190.23. The firm’s fifty day simple moving average is $178.75 and its 200-day simple moving average is $166.87. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.14 and a quick ratio of 1.07.

Chord Energy (NASDAQ:CHRD) last released its quarterly earnings data on Tuesday, May 7th. The company reported $5.10 EPS for the quarter, beating analysts’ consensus estimates of $4.75 by $0.35. The company had revenue of $1.09 billion during the quarter, compared to the consensus estimate of $771.87 million. Chord Energy had a net margin of 22.67% and a return on equity of 16.57%. Chord Energy’s quarterly revenue was up 24.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $4.50 EPS. As a group, equities analysts anticipate that Chord Energy Co. will post 22.53 EPS for the current year.

Chord Energy Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 5th. Stockholders of record on Wednesday, May 22nd will be issued a dividend of $2.94 per share. The ex-dividend date of this dividend is Tuesday, May 21st. This represents a $11.76 dividend on an annualized basis and a dividend yield of 6.62%. Chord Energy’s dividend payout ratio is currently 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.