Teacher Retirement System of Texas Takes Position in Chord Energy Co. (NASDAQ:CHRD)

Posted by Defense World Staff on Jun 7th, 2023

Teacher Retirement System of Texas acquired a new stake in Chord Energy Co. (NASDAQ:CHRD – Get Rating) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 12,967 shares of the company’s stock, valued at approximately $1,774,000.

Several other institutional investors and hedge funds have also bought and sold shares of CHRD. Jennison Associates LLC bought a new position in Chord Energy during the fourth quarter worth $128,428,000. Dimensional Fund Advisors LP bought a new position in Chord Energy during the fourth quarter worth $116,158,000. Boston Partners bought a new position in Chord Energy during the fourth quarter worth $109,332,000. Ninepoint Partners LP bought a new position in Chord Energy during the fourth quarter worth $101,923,000. Finally, Copeland Capital Management LLC bought a new position in Chord Energy during the fourth quarter worth $67,071,000. 93.47% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, Director Lynn A. Peterson sold 3,000 shares of the firm’s stock in a transaction dated Monday, April 17th. The shares were sold at an average price of $144.94, for a total transaction of $434,820.00. Following the completion of the sale, the director now owns 238,098 shares in the company, valued at $34,509,924.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Over the last 90 days, insiders sold 9,000 shares of company stock worth $1,282,590. Insiders own 0.52% of the company’s stock.

Chord Energy Stock Performance

Shares of CHRD stock opened at $149.78 on Wednesday. The firm has a 50-day moving average of $142.34 and a 200-day moving average of $139.00. The company has a market cap of $6.22 billion, a P/E ratio of 3.55, a P/E/G ratio of 0.35 and a beta of 1.36. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.18 and a quick ratio of 1.13. Chord Energy Co. has a one year low of $93.35 and a one year high of $181.34.

Chord Energy (NASDAQ:CHRD – Get Rating) last announced its earnings results on Wednesday, May 3rd. The company reported $4.50 EPS for the quarter, beating the consensus estimate of $4.15 by $0.35. The company had revenue of $896.52 million during the quarter, compared to the consensus estimate of $729.67 million. Chord Energy had a net margin of 43.37% and a return on equity of 23.51%. Equities research analysts forecast that Chord Energy Co. will post 21.5 EPS for the current fiscal year.

Chord Energy Cuts Dividend

The business also recently disclosed a None dividend, which was paid on Tuesday, May 30th. Investors of record on Tuesday, May 16th were issued a dividend of $3.22 per share. The ex-dividend date of this dividend was Monday, May 15th. This represents a yield of 3.5%. Chord Energy’s dividend payout ratio (DPR) is presently 11.85%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on CHRD. Royal Bank of Canada reissued an “outperform” rating and set a $190.00 target price on shares of Chord Energy in a research note on Thursday, March 30th. Citigroup lowered their price objective on shares of Chord Energy from $170.00 to $165.00 in a report on Sunday, May 21st. Stifel Nicolaus lowered their price objective on shares of Chord Energy from $182.00 to $176.00 in a report on Tuesday, May 30th. Piper Sandler lowered their price objective on shares of Chord Energy from $213.00 to $204.00 in a report on Thursday, May 18th. Finally, Truist Financial lowered their price objective on shares of Chord Energy from $252.00 to $246.00 in a report on Monday, May 8th. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, Chord Energy presently has an average rating of “Moderate Buy” and an average target price of $186.63.

Chord Energy Profile

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Chord Energy Corporation operates as an independent exploration and production company. It acquires, exploits, develops, and explores for crude oil, natural gas, and natural gas liquids in the Williston Basin. The company was founded in 2007 and is headquartered in Houston, Texas.