Chord Energy Co. (NASDAQ:CHRD) Shares Sold by Public Sector Pension Investment Board

Public Sector Pension Investment Board reduced its stake in shares of Chord Energy Co. (NASDAQ:CHRD) by 3.6% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,100 shares of the company’s stock after selling 300 shares during the period. Public Sector Pension Investment Board’s holdings in Chord Energy were worth $1,055,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Hexagon Capital Partners LLC increased its position in Chord Energy by 462.9% during the third quarter. Hexagon Capital Partners LLC now owns 197 shares of the company’s stock worth $26,000 after buying an additional 162 shares in the last quarter. Stone House Investment Management LLC purchased a new stake in Chord Energy during the 3rd quarter worth about $26,000. UMB Bank n.a. increased its position in Chord Energy by 77.7% during the 3rd quarter. UMB Bank n.a. now owns 231 shares of the company’s stock worth $30,000 after purchasing an additional 101 shares in the last quarter. Spartan Fund Management Inc. acquired a new position in Chord Energy in the 3rd quarter valued at about $34,000. Finally, Ashton Thomas Private Wealth LLC acquired a new stake in shares of Chord Energy during the 2nd quarter worth about $40,000. Hedge funds and other institutional investors own 97.76% of the company’s stock.

Chord Energy Stock Down 3.7 %

CHRD opened at $117.20 on Friday. The company has a market cap of $7.16 billion, a PE ratio of 6.04, a price-to-earnings-growth ratio of 4.91 and a beta of 0.96. The firm has a 50 day moving average price of $129.22 and a 200 day moving average price of $148.82. Chord Energy Co. has a 1 year low of $115.96 and a 1 year high of $190.23. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.89 and a current ratio of 0.93.

Chord Energy (NASDAQ:CHRD) last issued its quarterly earnings results on Wednesday, November 6th. The company reported $3.40 earnings per share for the quarter, missing analysts’ consensus estimates of $3.63 by ($0.23). Chord Energy had a return on equity of 12.88% and a net margin of 19.74%. The company had revenue of $1.12 billion during the quarter, compared to analyst estimates of $1.26 billion. During the same period in the prior year, the company posted $5.04 earnings per share. The company’s revenue was up 33.4% on a year-over-year basis. Sell-side analysts expect that Chord Energy Co. will post 16.5 earnings per share for the current year.

Chord Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Wednesday, November 27th will be paid a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a yield of 4.27%. The ex-dividend date of this dividend is Wednesday, November 27th. Chord Energy’s payout ratio is currently 25.75%.

Wall Street Analysts Forecast Growth

CHRD has been the subject of a number of analyst reports. Bank of America boosted their price objective on shares of Chord Energy from $201.00 to $208.00 and gave the company a “buy” rating in a research report on Wednesday, August 21st. Piper Sandler increased their price target on Chord Energy from $211.00 to $212.00 and gave the stock an “overweight” rating in a research note on Monday, November 18th. BMO Capital Markets lowered 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. Citigroup reduced their target price on Chord Energy from $195.00 to $180.00 and set a “buy” rating on the stock in a research report on Monday, August 12th. Finally, Wells Fargo & Company dropped their price objective on shares of Chord Energy from $185.00 to $180.00 and set an “overweight” rating for the company in a research note on Wednesday, October 16th. Two research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Chord Energy presently has a consensus rating of “Moderate Buy” and a consensus price target of $188.45.

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.