Teachers Retirement System of The State of Kentucky Sells 7,278 Shares of Chord Energy Co. (NASDAQ:CHRD)

Teachers Retirement System of The State of Kentucky reduced its holdings in Chord Energy Co. (NASDAQ:CHRD) by 26.0% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 20,693 shares of the company’s stock after selling 7,278 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in Chord Energy were worth $3,470,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of CHRD. Stifel Financial Corp increased its holdings in shares of Chord Energy by 145.4% in the fourth quarter. Stifel Financial Corp now owns 55,913 shares of the company’s stock worth $9,294,000 after acquiring an additional 33,129 shares in the last quarter. The Manufacturers Life Insurance Company increased its holdings in shares of Chord Energy by 5.5% in the fourth quarter. The Manufacturers Life Insurance Company now owns 247,807 shares of the company’s stock worth $41,193,000 after acquiring an additional 12,960 shares in the last quarter. Westwood Holdings Group Inc. increased its holdings in shares of Chord Energy by 4.9% in the fourth quarter. Westwood Holdings Group Inc. now owns 107,334 shares of the company’s stock worth $17,842,000 after acquiring an additional 5,032 shares in the last quarter. Personal CFO Solutions LLC increased its holdings in shares of Chord Energy by 7.4% in the fourth quarter. Personal CFO Solutions LLC now owns 2,803 shares of the company’s stock worth $466,000 after acquiring an additional 193 shares in the last quarter. Finally, Capital Fund Management S.A. increased its holdings in shares of Chord Energy by 252.9% in the fourth quarter. Capital Fund Management S.A. now owns 43,934 shares of the company’s stock worth $7,303,000 after acquiring an additional 31,484 shares in the last quarter. 97.76% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. Wolfe Research assumed coverage on Chord Energy in a research report on Thursday, July 18th. They set a “peer perform” rating for the company. Wells Fargo & Company reduced their price objective on Chord Energy from $200.00 to $185.00 and set an “overweight” rating for the company in a research report on Tuesday. Citigroup reduced their price objective on Chord Energy from $195.00 to $180.00 and set a “buy” rating for the company in a research report on Monday, August 12th. Jefferies Financial Group assumed coverage on Chord Energy in a research report on Thursday, September 5th. They set a “hold” rating and a $160.00 price objective for the company. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $200.00 price objective on shares of Chord Energy in a research report on Friday, September 20th. Two investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $197.90.

Chord Energy Stock Performance

Shares of NASDAQ CHRD opened at $134.70 on Friday. The stock has a 50 day moving average price of $145.95 and a 200 day moving average price of $165.42. Chord Energy Co. has a 52 week low of $126.96 and a 52 week high of $190.23. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.91 and a current ratio of 0.96. The stock has a market capitalization of $5.62 billion, a PE ratio of 6.25, a price-to-earnings-growth ratio of 4.92 and a beta of 0.99.

Chord Energy (NASDAQ:CHRD) last released its quarterly earnings data on Wednesday, August 7th. The company reported $4.69 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $5.00 by ($0.31). Chord Energy had a net margin of 20.83% and a return on equity of 15.06%. The business had revenue of $902.70 million during the quarter, compared to analyst estimates of $982.43 million. During the same period in the previous year, the business earned $3.65 earnings per share. The business’s quarterly revenue was up 29.8% on a year-over-year basis. Analysts predict that Chord Energy Co. will post 18.48 earnings per share for the current fiscal year.

Chord Energy Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 5th. Stockholders of record on Wednesday, August 21st were given a $1.25 dividend. The ex-dividend date was Wednesday, August 21st. This represents a $5.00 dividend on an annualized basis and a dividend yield of 3.71%. Chord Energy’s payout ratio is 23.46%.

Insider Activity

In other Chord Energy news, Director Samantha Holroyd acquired 500 shares of the business’s stock in a transaction dated Friday, August 23rd. The stock was bought at an average cost of $149.51 per share, with a total value of $74,755.00. Following the completion of the transaction, the director now directly owns 14,417 shares in the company, valued at approximately $2,155,485.67. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 0.70% of the company’s stock.

Chord Energy Company 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.