Chord Energy Corporation $CHRD Shares Sold by New York State Teachers Retirement System

New York State Teachers Retirement System decreased its stake in Chord Energy Corporation (NASDAQ:CHRD) by 29.4% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 20,129 shares of the company’s stock after selling 8,390 shares during the quarter. New York State Teachers Retirement System’s holdings in Chord Energy were worth $2,000,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Geode Capital Management LLC lifted its holdings in Chord Energy by 1.0% in the second quarter. Geode Capital Management LLC now owns 1,890,420 shares of the company’s stock valued at $183,112,000 after acquiring an additional 19,227 shares during the period. American Century Companies Inc. lifted its stake in shares of Chord Energy by 15.5% in the 2nd quarter. American Century Companies Inc. now owns 1,337,079 shares of the company’s stock valued at $129,496,000 after purchasing an additional 179,209 shares during the period. Sourcerock Group LLC boosted its holdings in Chord Energy by 2.1% during the second quarter. Sourcerock Group LLC now owns 1,031,973 shares of the company’s stock worth $99,947,000 after buying an additional 20,916 shares in the last quarter. Adage Capital Partners GP L.L.C. grew its position in Chord Energy by 22.2% during the second quarter. Adage Capital Partners GP L.L.C. now owns 990,381 shares of the company’s stock valued at $95,918,000 after buying an additional 180,000 shares during the period. Finally, Allspring Global Investments Holdings LLC increased its holdings in Chord Energy by 4.1% in the second quarter. Allspring Global Investments Holdings LLC now owns 824,760 shares of the company’s stock valued at $83,169,000 after buying an additional 32,802 shares in the last quarter. 97.76% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on CHRD shares. UBS Group lowered their target price on shares of Chord Energy from $123.00 to $119.00 and set a “buy” rating on the stock in a research note on Friday, January 9th. Royal Bank Of Canada reduced their price target on Chord Energy from $135.00 to $128.00 and set an “outperform” rating for the company in a report on Tuesday, January 13th. Scotiabank reissued a “sector perform” rating and issued a $114.00 price objective on shares of Chord Energy in a report on Friday. Piper Sandler reduced their target price on Chord Energy from $167.00 to $165.00 and set an “overweight” rating for the company in a research note on Tuesday, November 18th. Finally, William Blair assumed coverage on shares of Chord Energy in a research note on Friday, November 21st. They issued an “outperform” rating on the stock. Eight analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $126.17.

Insiders Place Their Bets

In other Chord Energy news, Director Samantha Holroyd purchased 1,250 shares of the stock in a transaction that occurred on Friday, November 7th. The shares were purchased at an average cost of $85.50 per share, for a total transaction of $106,875.00. Following the completion of the transaction, the director owned 17,706 shares of the company’s stock, valued at $1,513,863. The trade was a 7.60% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 0.70% of the company’s stock.

Chord Energy Stock Performance

NASDAQ CHRD opened at $92.30 on Monday. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.35 and a quick ratio of 1.28. The stock’s 50 day simple moving average is $92.77 and its 200-day simple moving average is $98.30. The company has a market cap of $5.25 billion, a PE ratio of 35.50 and a beta of 0.92. Chord Energy Corporation has a 1-year low of $79.83 and a 1-year high of $127.20.

Chord Energy (NASDAQ:CHRD) last posted its quarterly earnings data on Tuesday, November 4th. The company reported $2.35 EPS for the quarter, beating the consensus estimate of $2.24 by $0.11. The firm had revenue of $1.31 billion during the quarter, compared to the consensus estimate of $1.02 billion. Chord Energy had a return on equity of 8.27% and a net margin of 3.31%.The firm’s revenue was up 17.0% compared to the same quarter last year. During the same period in the prior year, the company earned $3.40 EPS. As a group, equities research analysts anticipate that Chord Energy Corporation will post 15.59 EPS for the current fiscal year.

Chord Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 5th. Stockholders of record on Wednesday, November 19th were paid a $1.30 dividend. This represents a $5.20 annualized dividend and a dividend yield of 5.6%. The ex-dividend date of this dividend was Wednesday, November 19th. Chord Energy’s dividend payout ratio (DPR) is currently 200.00%.

Chord Energy Company Profile

Chord Energy Corporation (NASDAQ: CHRD), formerly known as Oasis Petroleum Inc, is an independent exploration and production company focused on the acquisition, development and production of crude oil, natural gas and natural gas liquids. Headquartered in Houston, Texas, Chord Energy emerged from financial restructuring in early 2021 and rebranded in October 2022 to reflect its renewed strategic vision.

The company’s core operations are concentrated in two prolific U.S. resource plays: the Williston Basin across North Dakota and Montana, and the Delaware Basin spanning parts of West Texas and southeastern New Mexico.