California Public Employees Retirement System Has $15.86 Million Stock Holdings in Chord Energy Corporation $CHRD

California Public Employees Retirement System lifted its position in shares of Chord Energy Corporation (NASDAQ:CHRD) by 5.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 111,513 shares of the company’s stock after purchasing an additional 5,807 shares during the quarter. California Public Employees Retirement System owned 0.20% of Chord Energy worth $15,855,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in Chord Energy by 17.1% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 123,964 shares of the company’s stock worth $13,973,000 after acquiring an additional 18,137 shares in the last quarter. Focus Partners Wealth acquired a new position in Chord Energy in the first quarter valued at about $289,000. EverSource Wealth Advisors LLC increased its holdings in shares of Chord Energy by 364.2% in the second quarter. EverSource Wealth Advisors LLC now owns 1,555 shares of the company’s stock worth $151,000 after acquiring an additional 1,220 shares in the last quarter. Jump Financial LLC bought a new stake in shares of Chord Energy in the second quarter worth about $1,010,000. Finally, Gamco Investors INC. ET AL raised its position in shares of Chord Energy by 108.5% during the second quarter. Gamco Investors INC. ET AL now owns 10,429 shares of the company’s stock worth $1,010,000 after purchasing an additional 5,428 shares during the period. Institutional investors and hedge funds own 97.76% of the company’s stock.

Chord Energy Stock Performance

Shares of Chord Energy stock opened at $138.89 on Friday. The firm has a market cap of $7.82 billion, a price-to-earnings ratio of -122.91 and a beta of 0.49. The stock’s 50-day moving average is $129.57 and its 200-day moving average is $122.23. Chord Energy Corporation has a one year low of $84.25 and a one year high of $151.95. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.02 and a quick ratio of 0.96.

Chord Energy (NASDAQ:CHRD) last posted its quarterly earnings data on Tuesday, May 5th. The company reported $4.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.51 by $1.05. Chord Energy had a positive return on equity of 7.06% and a negative net margin of 1.25%.The business had revenue of $1.67 billion during the quarter, compared to the consensus estimate of $1.21 billion. During the same period last year, the company earned $4.04 earnings per share. Chord Energy’s quarterly revenue was up 37.1% on a year-over-year basis. Equities analysts predict that Chord Energy Corporation will post 18.32 earnings per share for the current fiscal year.

Chord Energy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 5th. Shareholders of record on Wednesday, May 20th were given a dividend of $1.30 per share. The ex-dividend date of this dividend was Wednesday, May 20th. This represents a $5.20 dividend on an annualized basis and a yield of 3.7%. Chord Energy’s dividend payout ratio is -460.18%.

Insider Buying and Selling

In other news, COO Darrin J. Henke sold 1,276 shares of Chord Energy stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of $145.97, for a total value of $186,257.72. Following the sale, the chief operating officer directly owned 21,157 shares in the company, valued at $3,088,287.29. This trade represents a 5.69% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Douglas E. Brooks sold 3,500 shares of the business’s stock in a transaction on Friday, May 8th. The stock was sold at an average price of $136.71, for a total transaction of $478,485.00. Following the completion of the sale, the director directly owned 20,205 shares in the company, valued at approximately $2,762,225.55. This represents a 14.76% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 9,276 shares of company stock valued at $1,285,968. Insiders own 0.79% of the company’s stock.

Wall Street Analyst Weigh In

CHRD has been the topic of several recent analyst reports. Scotiabank lifted their price objective on Chord Energy from $114.00 to $135.00 and gave the company a “sector perform” rating in a report on Wednesday, April 22nd. Zacks Research cut Chord Energy from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, June 9th. UBS Group dropped their target price on shares of Chord Energy from $179.00 to $153.00 and set a “buy” rating on the stock in a report on Friday, July 10th. Truist Financial cut their price target on shares of Chord Energy from $185.00 to $170.00 and set a “buy” rating on the stock in a research note on Tuesday, July 7th. Finally, Roth Capital reiterated a “buy” rating and issued a $145.00 price target on shares of Chord Energy in a report on Wednesday, July 15th. Eleven research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, Chord Energy presently has an average rating of “Moderate Buy” and an average target price of $152.38.

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.