Texas Permanent School Fund Corp Acquires 467 Shares of Chord Energy Co. (NASDAQ:CHRD)

Texas Permanent School Fund Corp increased its holdings in shares of Chord Energy Co. (NASDAQ:CHRD) by 1.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 36,126 shares of the company’s stock after purchasing an additional 467 shares during the period. Texas Permanent School Fund Corp owned approximately 0.09% of Chord Energy worth $6,439,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Vest Financial LLC lifted its stake in Chord Energy by 36.0% in the fourth quarter. Vest Financial LLC now owns 79,293 shares of the company’s stock valued at $13,181,000 after buying an additional 20,995 shares in the last quarter. Federated Hermes Inc. lifted its position in Chord Energy by 35.4% in the 4th quarter. Federated Hermes Inc. now owns 38,517 shares of the company’s stock valued at $6,403,000 after acquiring an additional 10,075 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its stake in Chord Energy by 12.3% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 491,737 shares of the company’s stock worth $81,742,000 after purchasing an additional 53,992 shares during the period. Capital Fund Management S.A. increased its holdings in Chord Energy by 252.9% during the 4th quarter. Capital Fund Management S.A. now owns 43,934 shares of the company’s stock worth $7,303,000 after purchasing an additional 31,484 shares in the last quarter. Finally, LSV Asset Management acquired a new stake in shares of Chord Energy in the 4th quarter valued at about $16,549,000. 97.76% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CHRD has been the subject of a number of research reports. Mizuho increased their price objective on Chord Energy from $195.00 to $214.00 and gave the stock a “buy” rating in a report on Monday, May 13th. Royal Bank of Canada boosted their price objective on shares of Chord Energy from $180.00 to $200.00 and gave the stock an “outperform” rating in a research report on Monday, April 29th. Truist Financial reduced their target price on shares of Chord Energy from $228.00 to $226.00 and set a “buy” rating for the company in a report on Monday, June 3rd. Piper Sandler lifted their price target on shares of Chord Energy from $231.00 to $233.00 and gave the company an “overweight” rating in a research note on Friday, May 24th. Finally, Bank of America restated a “buy” rating and issued a $201.00 price objective on shares of Chord Energy in a report on Friday, June 14th. One analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $205.00.

Chord Energy Stock Performance

NASDAQ CHRD traded down $0.94 during trading on Friday, reaching $170.25. 48,594 shares of the company’s stock were exchanged, compared to its average volume of 929,273. Chord Energy Co. has a fifty-two week low of $145.06 and a fifty-two week high of $190.23. The stock has a market capitalization of $7.10 billion, a P/E ratio of 8.03, a PEG ratio of 0.88 and a beta of 1.01. The business has a 50 day moving average price of $173.74 and a 200-day moving average price of $169.31. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.14 and a quick ratio of 1.07.

Chord Energy (NASDAQ:CHRD) last posted its earnings results on Tuesday, May 7th. The company reported $5.10 earnings per share for the quarter, topping analysts’ consensus estimates of $4.75 by $0.35. Chord Energy had a return on equity of 16.57% and a net margin of 22.67%. The business had revenue of $1.09 billion for the quarter, compared to analyst estimates of $771.87 million. During the same period in the previous year, the firm earned $4.50 EPS. The firm’s revenue was up 24.8% compared to the same quarter last year. Sell-side analysts forecast that Chord Energy Co. will post 22.27 earnings per share for the current fiscal year.

Chord Energy Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 5th. Investors of record on Wednesday, May 22nd were issued a dividend of $2.94 per share. This represents a $11.76 annualized dividend and a dividend yield of 6.91%. The ex-dividend date of this dividend was Tuesday, May 21st. Chord Energy’s payout ratio is 23.46%.

About Chord Energy

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.