State of Alaska Department of Revenue Grows Position in Chord Energy Co. (NASDAQ:CHRD)

State of Alaska Department of Revenue raised its position in shares of Chord Energy Co. (NASDAQ:CHRD) by 2.6% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,243 shares of the company’s stock after acquiring an additional 485 shares during the period. State of Alaska Department of Revenue’s holdings in Chord Energy were worth $2,505,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. Citigroup lowered their price objective on Chord Energy from $195.00 to $180.00 and set a “buy” rating for the company in a research note on Monday, August 12th. Jefferies Financial Group assumed coverage on shares of Chord Energy in a research report on Thursday, September 5th. They set a “hold” rating and a $160.00 price objective on the stock. Wolfe Research started coverage on shares of Chord Energy in a report on Thursday, July 18th. They issued a “peer perform” rating for the company. Wells Fargo & Company cut their price target on shares of Chord Energy from $185.00 to $180.00 and set an “overweight” rating on the stock in a report on Wednesday, October 16th. Finally, Piper Sandler raised their price objective on shares of Chord Energy from $206.00 to $211.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 15th. Two equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Chord Energy currently has an average rating of “Moderate Buy” and an average target price of $190.18.

Insiders Place Their Bets

In other Chord Energy news, Director Samantha Holroyd purchased 500 shares of Chord Energy stock in a transaction dated Friday, August 23rd. The stock was acquired at an average price of $149.51 per share, for a total transaction of $74,755.00. Following the acquisition, the director now owns 14,417 shares in the company, valued at $2,155,485.67. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.70% of the stock is owned by company insiders.

Chord Energy Stock Performance

Chord Energy stock opened at $125.10 on Friday. 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 company has a market capitalization of $7.74 billion, a PE ratio of 6.07, a P/E/G ratio of 5.00 and a beta of 0.97. The company has a 50 day moving average price of $135.14 and a 200-day moving average price of $158.79. Chord Energy Co. has a fifty-two week low of $124.50 and a fifty-two week high of $190.23.

Chord Energy (NASDAQ:CHRD) last issued its earnings results on Wednesday, August 7th. The company reported $4.69 earnings per share for the quarter, missing analysts’ consensus estimates 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 period last year, the firm earned $3.65 earnings per share. The company’s revenue for the quarter was up 29.8% on a year-over-year basis. As a group, equities analysts forecast that Chord Energy Co. will post 17.07 earnings per share for the current year.

Chord Energy Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 5th. Investors of record on Wednesday, August 21st were paid a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a yield of 4.00%. The ex-dividend date of this dividend was Wednesday, August 21st. Chord Energy’s dividend payout ratio (DPR) is presently 24.27%.

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.