New York State Teachers Retirement System Raises Stake in Chord Energy Co. (NASDAQ:CHRD)

New York State Teachers Retirement System increased its stake in Chord Energy Co. (NASDAQ:CHRD) by 0.4% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 27,274 shares of the company’s stock after buying an additional 100 shares during the period. New York State Teachers Retirement System’s holdings in Chord Energy were worth $3,552,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Victory Capital Management Inc. grew its stake in shares of Chord Energy by 397.5% in the 2nd quarter. Victory Capital Management Inc. now owns 1,589,061 shares of the company’s stock worth $266,454,000 after purchasing an additional 1,269,658 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in Chord Energy by 72.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,771,780 shares of the company’s stock worth $297,090,000 after acquiring an additional 741,705 shares in the last quarter. Boston Partners boosted its position in Chord Energy by 107.0% during the 1st quarter. Boston Partners now owns 1,305,942 shares of the company’s stock worth $232,813,000 after acquiring an additional 674,965 shares during the period. Millennium Management LLC grew its stake in Chord Energy by 226.5% during the 2nd quarter. Millennium Management LLC now owns 696,488 shares of the company’s stock valued at $116,787,000 after acquiring an additional 483,144 shares in the last quarter. Finally, KGH Ltd lifted its position in shares of Chord Energy by 872.0% in the second quarter. KGH Ltd now owns 485,998 shares of the company’s stock worth $81,492,000 after purchasing an additional 435,998 shares in the last quarter. 97.76% of the stock is owned by institutional investors and hedge funds.

Chord Energy Price Performance

NASDAQ CHRD opened at $131.96 on Thursday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.91 and a current ratio of 0.96. The stock has a market capitalization of $8.17 billion, a PE ratio of 6.41, a P/E/G ratio of 4.86 and a beta of 0.98. The stock has a 50-day simple moving average of $132.91 and a 200 day simple moving average of $156.86. Chord Energy Co. has a twelve month low of $123.30 and a twelve month high of $190.23.

Chord Energy (NASDAQ:CHRD) last issued its quarterly earnings results on Wednesday, August 7th. The company reported $4.69 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.00 by ($0.31). Chord Energy had a net margin of 20.83% and a return on equity of 15.06%. The firm had revenue of $902.70 million for the quarter, compared to the consensus estimate of $982.43 million. During the same quarter in the prior year, the firm earned $3.65 earnings per share. The company’s revenue was up 29.8% on a year-over-year basis. Research analysts anticipate that Chord Energy Co. will post 17.07 EPS for the current year.

Insider Activity

In other news, Director Samantha Holroyd bought 500 shares of Chord Energy stock in a transaction that occurred on Friday, August 23rd. The stock was purchased at an average cost of $149.51 per share, with a total value of $74,755.00. Following the completion of the transaction, the director now directly owns 14,417 shares in the company, valued at $2,155,485.67. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.70% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts have weighed in on CHRD shares. Royal Bank of Canada reiterated an “outperform” rating and issued a $200.00 price objective on shares of Chord Energy in a research note on Friday, September 20th. Wells Fargo & Company cut their price objective on Chord Energy from $185.00 to $180.00 and set an “overweight” rating for the company in a report on Wednesday, October 16th. Truist Financial lowered their target price on Chord Energy from $223.00 to $185.00 and set a “buy” rating on the stock in a research note on Monday, September 30th. 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. Finally, Siebert Williams Shank raised shares of Chord Energy to a “strong-buy” rating in a research report on Tuesday, October 15th. Two investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Chord Energy currently has a consensus rating of “Moderate Buy” and an average target price of $190.18.

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.