Texas Permanent School Fund Corp Reduces Stake in Chord Energy Co. (NASDAQ:CHRD)

Texas Permanent School Fund Corp lessened its holdings in Chord Energy Co. (NASDAQ:CHRDFree Report) by 3.6% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 35,272 shares of the company’s stock after selling 1,312 shares during the quarter. Texas Permanent School Fund Corp owned 0.09% of Chord Energy worth $5,717,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the business. BlackRock Inc. raised its holdings in Chord Energy by 50.4% during the 1st quarter. BlackRock Inc. now owns 4,888,058 shares of the company’s stock valued at $657,933,000 after buying an additional 1,638,278 shares during the last quarter. State Street Corp lifted its stake in shares of Chord Energy by 22.5% in the 1st quarter. State Street Corp now owns 1,903,685 shares of the company’s stock valued at $256,236,000 after purchasing an additional 349,592 shares during the period. First Trust Advisors LP boosted its position in shares of Chord Energy by 514.8% during the first quarter. First Trust Advisors LP now owns 1,477,124 shares of the company’s stock valued at $198,821,000 after purchasing an additional 1,236,882 shares in the last quarter. JPMorgan Chase & Co. grew its stake in Chord Energy by 7.4% in the first quarter. JPMorgan Chase & Co. now owns 1,310,240 shares of the company’s stock worth $176,358,000 after purchasing an additional 90,673 shares during the period. Finally, Geode Capital Management LLC raised its holdings in Chord Energy by 5.9% in the second quarter. Geode Capital Management LLC now owns 936,700 shares of the company’s stock worth $144,065,000 after purchasing an additional 51,898 shares in the last quarter. 97.76% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have recently commented on the stock. Wells Fargo & Company assumed coverage on shares of Chord Energy in a report on Wednesday, November 15th. They set an “overweight” rating and a $189.00 target price on the stock. Mizuho dropped their target price on Chord Energy from $197.00 to $188.00 and set a “buy” rating on the stock in a research report on Wednesday, January 3rd. Royal Bank of Canada reaffirmed an “outperform” rating and set a $180.00 price objective on shares of Chord Energy in a research report on Tuesday, November 21st. Bank of America cut Chord Energy from a “buy” rating to an “underperform” rating and decreased their price target for the company from $177.00 to $165.00 in a report on Friday, January 5th. Finally, Stifel Nicolaus dropped their price target on Chord Energy from $183.00 to $178.00 and set a “buy” rating for the company in a research note on Tuesday, January 23rd. One research analyst has rated the stock with a sell rating, one has given a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $185.10.

Read Our Latest Analysis on CHRD

Insider Buying and Selling

In related news, CFO Michael H. Lou sold 3,000 shares of the stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $154.15, for a total value of $462,450.00. Following the sale, the chief financial officer now directly owns 131,209 shares of the company’s stock, valued at approximately $20,225,867.35. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, COO Charles J. Rimer sold 1,500 shares of the stock in a transaction on Wednesday, November 15th. The stock was sold at an average price of $163.46, for a total transaction of $245,190.00. Following the transaction, the chief operating officer now owns 86,773 shares of the company’s stock, valued at approximately $14,183,914.58. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Michael H. Lou sold 3,000 shares of the firm’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $154.15, for a total transaction of $462,450.00. Following the transaction, the chief financial officer now directly owns 131,209 shares in the company, valued at approximately $20,225,867.35. The disclosure for this sale can be found here. Over the last quarter, insiders sold 11,750 shares of company stock worth $1,931,128. Corporate insiders own 0.52% of the company’s stock.

Chord Energy Stock Performance

Chord Energy stock opened at $156.02 on Monday. The company’s 50-day moving average price is $159.21 and its 200-day moving average price is $160.41. The company has a quick ratio of 0.97, a current ratio of 1.02 and a debt-to-equity ratio of 0.08. The company has a market cap of $6.44 billion, a PE ratio of 6.18 and a beta of 1.07. Chord Energy Co. has a twelve month low of $117.05 and a twelve month high of $175.20.

Chord Energy Profile

(Free Report)

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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Institutional Ownership by Quarter for Chord Energy (NASDAQ:CHRD)

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