Texas Permanent School Fund Corp Acquires 467 Shares of Chord Energy Co. (NASDAQ:CHRD)

Texas Permanent School Fund Corp grew its holdings in Chord Energy Co. (NASDAQ:CHRD) by 1.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 36,126 shares of the company’s stock after purchasing an additional 467 shares during the period. Texas Permanent School Fund Corp’s holdings in Chord Energy were worth $6,439,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the business. Vanguard Group Inc. increased its position in shares of Chord Energy by 0.5% during the third quarter. Vanguard Group Inc. now owns 4,351,393 shares of the company’s stock valued at $705,230,000 after buying an additional 21,034 shares during the period. Wellington Management Group LLP increased its holdings in Chord Energy by 1.0% during the 3rd quarter. Wellington Management Group LLP now owns 2,671,474 shares of the company’s stock worth $432,966,000 after acquiring an additional 26,896 shares during the period. First Trust Advisors LP lifted its stake in Chord Energy by 11.0% in the 4th quarter. First Trust Advisors LP now owns 1,402,359 shares of the company’s stock worth $233,114,000 after purchasing an additional 138,957 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in Chord Energy by 3.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 670,548 shares of the company’s stock valued at $111,468,000 after purchasing an additional 21,399 shares during the period. Finally, Boston Partners grew its position in shares of Chord Energy by 50.8% during the 4th quarter. Boston Partners now owns 630,977 shares of the company’s stock valued at $104,815,000 after purchasing an additional 212,463 shares in the last quarter. 97.76% of the stock is currently owned by hedge funds and other institutional investors.

Chord Energy Trading Down 0.5 %

Shares of CHRD traded down $0.94 during mid-day trading on Friday, reaching $170.25. The company’s stock had a trading volume of 48,594 shares, compared to its average volume of 929,273. Chord Energy Co. has a 52 week low of $145.06 and a 52 week high of $190.23. The stock has a market cap of $7.10 billion, a PE ratio of 8.03, a P/E/G ratio of 0.88 and a beta of 1.01. The company’s fifty day moving average price is $173.74 and its two-hundred day moving average price is $169.31. The company has a current ratio of 1.14, a quick ratio of 1.07 and a debt-to-equity ratio of 0.08.

Chord Energy (NASDAQ:CHRD) last posted its quarterly earnings results on Tuesday, May 7th. The company reported $5.10 earnings per share for the quarter, topping the consensus estimate of $4.75 by $0.35. Chord Energy had a net margin of 22.67% and a return on equity of 16.57%. The business had revenue of $1.09 billion during the quarter, compared to the consensus estimate of $771.87 million. During the same period in the previous year, the firm posted $4.50 earnings per share. The firm’s revenue for the quarter was up 24.8% on a year-over-year basis. On average, analysts predict that Chord Energy Co. will post 22.27 earnings per share for the current fiscal year.

Chord Energy Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 5th. Investors of record on Wednesday, May 22nd were issued a dividend of $2.94 per share. This represents a $11.76 annualized dividend and a yield of 6.91%. The ex-dividend date of this dividend was Tuesday, May 21st. Chord Energy’s dividend payout ratio is presently 23.46%.

Analyst Upgrades and Downgrades

CHRD has been the subject of several research analyst reports. Citigroup assumed coverage on Chord Energy in a research note on Monday, July 1st. They set a “buy” rating and a $195.00 price objective for the company. BMO Capital Markets initiated coverage on Chord Energy in a research report on Monday, June 3rd. They set an “outperform” rating and a $230.00 price target for the company. Truist Financial decreased their price objective on shares of Chord Energy from $228.00 to $226.00 and set a “buy” rating on the stock in a research report on Monday, June 3rd. Piper Sandler lifted their target price on shares of Chord Energy from $231.00 to $233.00 and gave the company an “overweight” rating in a research report on Friday, May 24th. Finally, Mizuho increased their price target on shares of Chord Energy from $195.00 to $214.00 and gave the stock a “buy” rating in a report on Monday, May 13th. One analyst has rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $205.00.

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.