Retirement Systems of Alabama acquired a new position in shares of Chord Energy Co. (NASDAQ:CHRD – Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 54,363 shares of the company’s stock, valued at approximately $7,317,000. Retirement Systems of Alabama owned about 0.13% of Chord Energy at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Mesirow Institutional Investment Management Inc. acquired a new stake in Chord Energy during the first quarter worth about $3,504,000. SG Americas Securities LLC increased its position in Chord Energy by 34.9% during the first quarter. SG Americas Securities LLC now owns 13,414 shares of the company’s stock worth $1,806,000 after purchasing an additional 3,469 shares during the last quarter. State of Michigan Retirement System acquired a new stake in Chord Energy during the first quarter worth about $1,413,000. Moody Aldrich Partners LLC increased its position in Chord Energy by 23.6% during the first quarter. Moody Aldrich Partners LLC now owns 55,778 shares of the company’s stock worth $7,508,000 after purchasing an additional 10,632 shares during the last quarter. Finally, New York State Teachers Retirement System acquired a new stake in Chord Energy during the first quarter worth about $1,678,000. 98.83% of the stock is currently owned by institutional investors and hedge funds.
Chord Energy Trading Up 1.6 %
NASDAQ CHRD opened at $151.32 on Tuesday. The firm has a 50 day simple moving average of $150.12 and a 200-day simple moving average of $142.05. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.13 and a current ratio of 1.18. Chord Energy Co. has a one year low of $113.68 and a one year high of $164.79. The firm has a market cap of $6.29 billion, a price-to-earnings ratio of 3.59, a PEG ratio of 0.38 and a beta of 1.31.
Chord Energy Cuts Dividend
The company also recently declared a None dividend, which was paid on Tuesday, May 30th. Investors of record on Tuesday, May 16th were paid a $3.22 dividend. The ex-dividend date of this dividend was Monday, May 15th. This represents a yield of 3.5%. Chord Energy’s dividend payout ratio is currently 11.85%.
Insider Buying and Selling
In related news, Director Lynn A. Peterson sold 3,000 shares of Chord Energy stock in a transaction that occurred on Monday, May 15th. The shares were sold at an average price of $140.56, for a total value of $421,680.00. Following the completion of the transaction, the director now owns 235,098 shares in the company, valued at $33,045,374.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Chord Energy news, COO Charles J. Rimer sold 7,259 shares of the firm’s stock in a transaction that occurred on Wednesday, July 12th. The shares were sold at an average price of $160.03, for a total transaction of $1,161,657.77. Following the sale, the chief operating officer now owns 97,514 shares of the company’s stock, valued at $15,605,165.42. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Lynn A. Peterson sold 3,000 shares of the firm’s stock in a transaction that occurred on Monday, May 15th. The stock was sold at an average price of $140.56, for a total transaction of $421,680.00. Following the sale, the director now directly owns 235,098 shares in the company, valued at approximately $33,045,374.88. The disclosure for this sale can be found here. Insiders sold 16,259 shares of company stock worth $2,472,298 over the last 90 days. 0.52% of the stock is owned by insiders.
Analyst Ratings Changes
Several equities research analysts recently issued reports on the stock. Piper Sandler cut their price objective on shares of Chord Energy from $204.00 to $202.00 in a research report on Tuesday, June 13th. Stifel Nicolaus increased their target price on shares of Chord Energy from $176.00 to $177.00 in a research note on Monday. Royal Bank of Canada lowered their target price on shares of Chord Energy from $185.00 to $180.00 in a research note on Monday, July 17th. Truist Financial lowered their target price on shares of Chord Energy from $247.00 to $221.00 and set a “buy” rating for the company in a research note on Monday. Finally, TD Cowen lowered shares of Chord Energy from an “outperform” rating to a “market perform” rating and set a $151.00 target price for the company. in a research note on Wednesday, July 19th. One analyst has rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, Chord Energy currently has an average rating of “Moderate Buy” and an average price target of $181.38.
Chord Energy Company Profile
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. Chord Energy Corporation was founded in 2007 and is headquartered in Houston, Texas.
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