Louisiana State Employees Retirement System Has $1.57 Million Stock Holdings in Chord Energy Corporation $CHRD

Louisiana State Employees Retirement System trimmed its stake in Chord Energy Corporation (NASDAQ:CHRD) by 5.3% in the second quarter, HoldingsChannel reports. The firm owned 16,200 shares of the company’s stock after selling 900 shares during the period. Louisiana State Employees Retirement System’s holdings in Chord Energy were worth $1,569,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the business. American Century Companies Inc. grew its holdings in shares of Chord Energy by 3.7% during the first quarter. American Century Companies Inc. now owns 1,157,870 shares of the company’s stock valued at $130,515,000 after buying an additional 41,797 shares during the last quarter. Allspring Global Investments Holdings LLC grew its holdings in shares of Chord Energy by 6.4% during the first quarter. Allspring Global Investments Holdings LLC now owns 791,958 shares of the company’s stock valued at $89,198,000 after buying an additional 47,649 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Chord Energy by 7.8% during the first quarter. Bank of New York Mellon Corp now owns 742,327 shares of the company’s stock valued at $83,675,000 after buying an additional 53,927 shares during the last quarter. Palo Duro Investment Partners LP grew its holdings in shares of Chord Energy by 3.1% during the first quarter. Palo Duro Investment Partners LP now owns 689,690 shares of the company’s stock valued at $77,742,000 after buying an additional 20,940 shares during the last quarter. Finally, Fuller & Thaler Asset Management Inc. grew its holdings in shares of Chord Energy by 9.2% during the first quarter. Fuller & Thaler Asset Management Inc. now owns 618,738 shares of the company’s stock valued at $69,744,000 after buying an additional 52,375 shares during the last quarter. 97.76% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on CHRD. UBS Group lifted their price objective on shares of Chord Energy from $122.00 to $130.00 and gave the company a “buy” rating in a report on Tuesday, September 16th. Royal Bank Of Canada reiterated an “outperform” rating and set a $130.00 price objective on shares of Chord Energy in a report on Monday, October 6th. Scotiabank began coverage on shares of Chord Energy in a report on Friday, September 19th. They set a “sector perform” rating and a $120.00 price objective for the company. Wells Fargo & Company raised their price target on shares of Chord Energy from $146.00 to $149.00 and gave the company an “overweight” rating in a research report on Wednesday, September 17th. Finally, Piper Sandler dropped their price target on shares of Chord Energy from $169.00 to $167.00 and set an “overweight” rating on the stock in a research report on Friday, October 3rd. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $143.42.

Chord Energy Stock Down 5.6%

CHRD opened at $90.59 on Monday. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.97 and a quick ratio of 0.90. The company’s 50-day moving average is $103.08 and its 200 day moving average is $100.11. Chord Energy Corporation has a fifty-two week low of $79.83 and a fifty-two week high of $136.38. The firm has a market capitalization of $5.19 billion, a P/E ratio of 23.05 and a beta of 0.94.

Chord Energy (NASDAQ:CHRD) last released its quarterly earnings results on Wednesday, August 6th. The company reported $1.79 earnings per share for the quarter, missing analysts’ consensus estimates of $1.88 by ($0.09). The firm had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $984.07 million. Chord Energy had a net margin of 5.02% and a return on equity of 9.02%. The firm’s revenue for the quarter was up 5.3% on a year-over-year basis. During the same period in the previous year, the business earned $4.69 earnings per share. Research analysts expect that Chord Energy Corporation will post 15.59 earnings per share for the current fiscal year.

Chord Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 8th. Shareholders of record on Thursday, August 21st were given a $1.30 dividend. The ex-dividend date of this dividend was Thursday, August 21st. This represents a $5.20 annualized dividend and a yield of 5.7%. Chord Energy’s payout ratio is currently 132.32%.

Insider Buying and Selling

In other Chord Energy news, EVP Shannon Browning Kinney sold 3,019 shares of Chord Energy stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $105.43, for a total value of $318,293.17. Following the sale, the executive vice president owned 14,650 shares of the company’s stock, valued at approximately $1,544,549.50. The trade was a 17.09% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.70% of the company’s stock.

Chord Energy Profile

Chord Energy Corporation operates as an independent exploration and production company in the United States. It acquires, explores, develops, and produces crude oil, natural gas, and natural gas liquids in the Williston Basin. The company sells its products to refiners, marketers, and other purchasers that have access to nearby pipeline and rail facilities.