Nisa Investment Advisors LLC Has $507,000 Holdings in Chord Energy Co. (NASDAQ:CHRD)

Nisa Investment Advisors LLC lessened its stake in Chord Energy Co. (NASDAQ:CHRD) by 35.7% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,025 shares of the company’s stock after selling 1,678 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Chord Energy were worth $507,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Hennion & Walsh Asset Management Inc. boosted its holdings in shares of Chord Energy by 98.1% in the second quarter. Hennion & Walsh Asset Management Inc. now owns 3,292 shares of the company’s stock valued at $552,000 after buying an additional 1,630 shares during the period. Raymond James & Associates boosted its holdings in Chord Energy by 77.6% during the second quarter. Raymond James & Associates now owns 140,582 shares of the company’s stock worth $23,573,000 after purchasing an additional 61,442 shares during the last quarter. Oakworth Capital Inc. acquired a new position in Chord Energy during the second quarter worth $213,000. Sumitomo Mitsui Trust Holdings Inc. acquired a new position in Chord Energy during the second quarter worth $19,532,000. Finally, Blue Trust Inc. boosted its holdings in Chord Energy by 33.3% during the second quarter. Blue Trust Inc. now owns 1,589 shares of the company’s stock worth $283,000 after purchasing an additional 397 shares during the last quarter. Institutional investors and hedge funds own 97.76% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on CHRD. Bank of America increased their target price on shares of Chord Energy from $201.00 to $208.00 and gave the stock a “buy” rating in a report on Wednesday. Mizuho upped their target price on shares of Chord Energy from $195.00 to $214.00 and gave the company a “buy” rating in a report on Monday, May 13th. BMO Capital Markets initiated coverage on Chord Energy in a report on Monday, June 3rd. They set an “outperform” rating and a $230.00 price target for the company. Royal Bank of Canada boosted 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. Finally, Piper Sandler cut their price objective on Chord Energy from $234.00 to $206.00 and set an “overweight” rating for the company in a research report on Thursday, August 15th. One equities research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, Chord Energy presently has an average rating of “Moderate Buy” and a consensus target price of $206.78.

Chord Energy Price Performance

NASDAQ:CHRD opened at $150.00 on Friday. Chord Energy Co. has a 52 week low of $145.53 and a 52 week high of $190.23. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.07 and a current ratio of 1.14. The firm’s 50-day simple moving average is $164.46 and its 200 day simple moving average is $170.04. The firm has a market cap of $6.25 billion, a price-to-earnings ratio of 7.04, a P/E/G ratio of 0.92 and a beta of 1.01.

Chord Energy (NASDAQ:CHRD) last announced its earnings results on Wednesday, August 7th. The company reported $4.69 EPS for the quarter, missing the consensus estimate of $5.00 by ($0.31). The business had revenue of $902.70 million for the quarter, compared to the consensus estimate of $982.43 million. Chord Energy had a return on equity of 16.57% and a net margin of 22.67%. The firm’s revenue for the quarter was up 29.8% compared to the same quarter last year. During the same period in the prior year, the business posted $3.65 earnings per share. As a group, sell-side analysts predict that Chord Energy Co. will post 20.85 earnings per share for the current year.

Chord Energy Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 5th. Shareholders of record on Wednesday, August 21st will be given a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a yield of 3.33%. The ex-dividend date of this dividend is Wednesday, August 21st. Chord Energy’s dividend payout ratio is presently 23.46%.

Insiders Place Their Bets

In related news, Director Samantha Holroyd bought 500 shares of the company’s stock in a transaction dated Friday, August 23rd. The stock was purchased at an average price of $149.51 per share, with a total value of $74,755.00. Following the completion of the acquisition, the director now owns 14,417 shares of the company’s stock, valued at $2,155,485.67. The purchase was disclosed in a document filed with the SEC, which is available through this link. Insiders own 0.70% of the company’s stock.

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.