Chord Energy Co. (NASDAQ:CHRD) Shares Sold by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System lowered its position in Chord Energy Co. (NASDAQ:CHRD) by 2.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 17,100 shares of the company’s stock after selling 500 shares during the period. Louisiana State Employees Retirement System’s holdings in Chord Energy were worth $2,227,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Hexagon Capital Partners LLC lifted its position in Chord Energy by 462.9% in the third quarter. Hexagon Capital Partners LLC now owns 197 shares of the company’s stock valued at $26,000 after purchasing an additional 162 shares during the period. UMB Bank n.a. lifted its position in shares of Chord Energy by 77.7% during the 3rd quarter. UMB Bank n.a. now owns 231 shares of the company’s stock valued at $30,000 after acquiring an additional 101 shares during the period. Spartan Fund Management Inc. acquired a new stake in shares of Chord Energy during the 3rd quarter valued at approximately $34,000. Ashton Thomas Private Wealth LLC acquired a new stake in shares of Chord Energy during the 2nd quarter valued at approximately $40,000. Finally, Benjamin F. Edwards & Company Inc. lifted its position in shares of Chord Energy by 125.9% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 244 shares of the company’s stock valued at $41,000 after acquiring an additional 136 shares during the period. Institutional investors and hedge funds own 97.76% of the company’s stock.

Insider Activity

In related news, Director Samantha Holroyd acquired 500 shares of the stock in a transaction dated Friday, August 23rd. The stock was bought at an average cost of $149.51 per share, with a total value of $74,755.00. Following the purchase, the director now directly owns 14,417 shares of the company’s stock, valued at approximately $2,155,485.67. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.70% of the company’s stock.

Wall Street Analysts Forecast Growth

CHRD has been the subject of a number of research reports. Royal Bank of Canada reiterated an “outperform” rating and set a $200.00 price target on shares of Chord Energy in a research report on Friday, September 20th. Piper Sandler lifted their price target on shares of Chord Energy from $206.00 to $211.00 and gave the company an “overweight” rating in a research report on Tuesday, October 15th. UBS Group initiated coverage on shares of Chord Energy in a research report on Wednesday, October 16th. They set a “buy” rating and a $168.00 price target for the company. Jefferies Financial Group initiated coverage on Chord Energy in a research report on Thursday, September 5th. They set a “hold” rating and a $160.00 price objective for the company. Finally, BMO Capital Markets cut their price objective on Chord Energy from $205.00 to $175.00 and set an “outperform” rating for the company in a research report on Friday, October 4th. Two research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $190.18.

Chord Energy Stock Down 0.4 %

CHRD stock opened at $125.97 on Wednesday. The stock has a market capitalization of $7.80 billion, a P/E ratio of 6.12, a PEG ratio of 5.00 and a beta of 0.97. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.91 and a current ratio of 0.96. Chord Energy Co. has a one year low of $124.50 and a one year high of $190.23. The company has a 50 day moving average price of $136.07 and a two-hundred day moving average price of $159.45.

Chord Energy (NASDAQ:CHRD) last released 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 firm had revenue of $902.70 million during the quarter, compared to analysts’ expectations of $982.43 million. Chord Energy had a return on equity of 15.06% and a net margin of 20.83%. The firm’s revenue was up 29.8% on a year-over-year basis. During the same period in the previous year, the firm posted $3.65 earnings per share. As a group, sell-side analysts expect that Chord Energy Co. will post 17.07 EPS for the current year.

Chord Energy Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 5th. Stockholders of record on Wednesday, August 21st were paid a dividend of $1.25 per share. The ex-dividend date of this dividend was Wednesday, August 21st. This represents a $5.00 annualized dividend and a dividend yield of 3.97%. Chord Energy’s dividend payout ratio is presently 24.27%.

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.