Public Sector Pension Investment Board Purchases New Holdings in Chord Energy Co. (NASDAQ:CHRD)

Public Sector Pension Investment Board acquired a new position in Chord Energy Co. (NASDAQ:CHRD) during the 2nd quarter, HoldingsChannel.com reports. The fund acquired 8,400 shares of the company’s stock, valued at approximately $1,409,000.

A number of other institutional investors have also recently bought and sold shares of CHRD. Kraematon Investment Advisors Inc. purchased a new stake in shares of Chord Energy during the 2nd quarter worth approximately $4,426,000. Capital Fund Management S.A. increased its position in Chord Energy by 252.9% in the fourth quarter. Capital Fund Management S.A. now owns 43,934 shares of the company’s stock worth $7,303,000 after buying an additional 31,484 shares during the last quarter. Sei Investments Co. raised its stake in shares of Chord Energy by 24.0% in the first quarter. Sei Investments Co. now owns 144,166 shares of the company’s stock valued at $25,696,000 after buying an additional 27,903 shares during the period. Quantbot Technologies LP purchased a new position in shares of Chord Energy during the 1st quarter valued at $884,000. Finally, BOKF NA grew its stake in shares of Chord Energy by 1,678.3% during the 1st quarter. BOKF NA now owns 15,471 shares of the company’s stock worth $2,751,000 after acquiring an additional 14,601 shares during the period. Institutional investors own 97.76% of the company’s stock.

Insider Transactions at Chord Energy

In other news, Director Samantha Holroyd bought 500 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The stock was bought at an average price of $149.51 per share, for a total transaction of $74,755.00. Following the transaction, the director now directly owns 14,417 shares of the company’s stock, valued at approximately $2,155,485.67. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.70% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on CHRD shares. Citigroup dropped their price objective on shares of Chord Energy from $195.00 to $180.00 and set a “buy” rating on the stock in a report on Monday, August 12th. Wells Fargo & Company cut their price objective on shares of Chord Energy from $200.00 to $185.00 and set an “overweight” rating for the company in a report on Tuesday. Jefferies Financial Group assumed coverage on shares of Chord Energy in a report on Thursday, September 5th. They set a “hold” rating and a $160.00 target price on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $200.00 price target on shares of Chord Energy in a report on Friday, September 20th. Finally, Bank of America increased their price objective on Chord Energy from $201.00 to $208.00 and gave the stock a “buy” rating in a report on Wednesday, August 21st. Two equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, Chord Energy has a consensus rating of “Moderate Buy” and an average price target of $197.90.

Chord Energy Stock Up 0.3 %

Shares of NASDAQ CHRD opened at $130.59 on Wednesday. The company has a current ratio of 0.96, a quick ratio of 0.91 and a debt-to-equity ratio of 0.11. The business has a 50-day moving average of $147.58 and a 200-day moving average of $165.92. The firm has a market capitalization of $5.44 billion, a price-to-earnings ratio of 6.17, a PEG ratio of 4.92 and a beta of 0.99. Chord Energy Co. has a 12 month low of $126.96 and a 12 month high of $190.23.

Chord Energy (NASDAQ:CHRD) last released its quarterly earnings results on Wednesday, August 7th. The company reported $4.69 EPS for the quarter, missing analysts’ consensus estimates of $5.00 by ($0.31). Chord Energy had a return on equity of 15.06% and a net margin of 20.83%. The company had revenue of $902.70 million during the quarter, compared to analysts’ expectations of $982.43 million. During the same period in the prior year, the firm earned $3.65 EPS. Chord Energy’s quarterly revenue was up 29.8% on a year-over-year basis. Sell-side analysts expect that Chord Energy Co. will post 18.48 earnings per share for the current fiscal year.

Chord Energy Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 5th. Shareholders of record on Wednesday, August 21st were paid a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a yield of 3.83%. The ex-dividend date of this dividend was Wednesday, August 21st. Chord Energy’s dividend payout ratio (DPR) is currently 23.46%.

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.