Retirement Systems of Alabama Sells 81,481 Shares of Chord Energy Corporation $CHRD

Retirement Systems of Alabama trimmed its holdings in shares of Chord Energy Corporation (NASDAQ:CHRD) by 54.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 68,247 shares of the company’s stock after selling 81,481 shares during the quarter. Retirement Systems of Alabama owned about 0.12% of Chord Energy worth $6,326,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. WealthCollab LLC boosted its stake in shares of Chord Energy by 90.6% during the 2nd quarter. WealthCollab LLC now owns 305 shares of the company’s stock worth $30,000 after acquiring an additional 145 shares in the last quarter. Quent Capital LLC bought a new position in shares of Chord Energy in the 3rd quarter valued at approximately $32,000. Pilgrim Partners Asia Pte Ltd acquired a new stake in Chord Energy in the 3rd quarter worth approximately $46,000. Triumph Capital Management acquired a new stake in Chord Energy in the 3rd quarter worth approximately $56,000. Finally, Larson Financial Group LLC boosted its position in Chord Energy by 43.0% during the third quarter. Larson Financial Group LLC now owns 791 shares of the company’s stock worth $79,000 after purchasing an additional 238 shares during the period. 97.76% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Chord Energy

In other news, Director Douglas E. Brooks sold 2,126 shares of Chord Energy stock in a transaction dated Friday, March 6th. The shares were sold at an average price of $120.28, for a total transaction of $255,715.28. Following the sale, the director directly owned 25,181 shares in the company, valued at approximately $3,028,770.68. The trade was a 7.79% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Michael H. Lou sold 15,000 shares of Chord Energy stock in a transaction that occurred on Thursday, March 12th. The shares were sold at an average price of $125.47, for a total value of $1,882,050.00. Following the sale, the executive vice president directly owned 82,699 shares in the company, valued at $10,376,243.53. The trade was a 15.35% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 23,927 shares of company stock valued at $2,912,028 over the last quarter. 0.70% of the stock is currently owned by insiders.

Chord Energy Stock Performance

Shares of Chord Energy stock opened at $142.00 on Monday. Chord Energy Corporation has a 1 year low of $79.83 and a 1 year high of $148.41. The company’s fifty day simple moving average is $115.66 and its 200-day simple moving average is $101.35. The company has a market cap of $8.05 billion, a price-to-earnings ratio of 225.40 and a beta of 0.66. The company has a current ratio of 1.06, a quick ratio of 0.98 and a debt-to-equity ratio of 0.18.

Chord Energy (NASDAQ:CHRD) last issued its quarterly earnings results on Wednesday, February 25th. The company reported $1.28 earnings per share for the quarter, beating analysts’ consensus estimates of $1.17 by $0.11. Chord Energy had a net margin of 0.91% and a return on equity of 6.71%. The firm had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.03 billion. During the same period in the prior year, the firm earned $3.49 EPS. The business’s revenue was down 19.6% on a year-over-year basis. As a group, sell-side analysts expect that Chord Energy Corporation will post 15.59 EPS for the current year.

Chord Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 27th. Investors of record on Thursday, March 12th were given a $1.30 dividend. This represents a $5.20 annualized dividend and a yield of 3.7%. The ex-dividend date of this dividend was Thursday, March 12th. Chord Energy’s dividend payout ratio (DPR) is 825.40%.

Wall Street Analyst Weigh In

CHRD has been the topic of several analyst reports. Scotiabank upgraded Chord Energy to a “hold” rating in a report on Friday, March 27th. Morgan Stanley raised shares of Chord Energy from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $114.00 to $168.00 in a report on Friday, March 27th. Wall Street Zen upgraded shares of Chord Energy from a “sell” rating to a “hold” rating in a report on Saturday, March 28th. Weiss Ratings upgraded shares of Chord Energy from a “sell (d+)” rating to a “hold (c-)” rating in a report on Tuesday, March 17th. Finally, Royal Bank Of Canada lowered their price target on Chord Energy from $135.00 to $128.00 and set an “outperform” rating on the stock in a research report on Tuesday, January 13th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $141.83.

About Chord Energy

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.