Chord Energy Co. (NASDAQ:CHRD) Shares Sold by Texas Permanent School Fund Corp

Texas Permanent School Fund Corp decreased its stake in Chord Energy Co. (NASDAQ:CHRD) by 7.1% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 33,560 shares of the company’s stock after selling 2,566 shares during the period. Texas Permanent School Fund Corp owned 0.08% of Chord Energy worth $5,627,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Principal Securities Inc. acquired a new position in Chord Energy in the fourth quarter valued at $101,000. Johnson Investment Counsel Inc. acquired a new stake in shares of Chord Energy in the 4th quarter valued at about $211,000. Dimensional Fund Advisors LP boosted its position in shares of Chord Energy by 3.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 670,548 shares of the company’s stock valued at $111,468,000 after purchasing an additional 21,399 shares during the period. Avantax Advisory Services Inc. grew its stake in Chord Energy by 35.8% during the 4th quarter. Avantax Advisory Services Inc. now owns 2,904 shares of the company’s stock worth $483,000 after buying an additional 766 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC increased its position in Chord Energy by 112.4% during the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 8,700 shares of the company’s stock worth $1,446,000 after buying an additional 4,604 shares during the period. 97.76% of the stock is owned by hedge funds and other institutional investors.

Chord Energy Stock Performance

NASDAQ CHRD opened at $132.72 on Friday. The stock has a market capitalization of $5.53 billion, a price-to-earnings ratio of 6.23, a PEG ratio of 4.54 and a beta of 0.99. The business’s 50 day moving average is $157.72 and its two-hundred day moving average is $168.49. Chord Energy Co. has a 12-month low of $129.75 and a 12-month high of $190.23. The company has a current ratio of 0.96, a quick ratio of 0.91 and a debt-to-equity ratio of 0.11.

Chord Energy (NASDAQ:CHRD) last announced its quarterly earnings data on Wednesday, August 7th. The company reported $4.69 earnings per share for the quarter, missing analysts’ consensus estimates of $5.00 by ($0.31). Chord Energy had a return on equity of 15.06% and a net margin of 20.83%. The business had revenue of $902.70 million for the quarter, compared to analyst estimates of $982.43 million. During the same period in the prior year, the company earned $3.65 EPS. The company’s revenue was up 29.8% on a year-over-year basis. Research analysts expect that Chord Energy Co. will post 19.61 EPS for the current year.

Chord Energy Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 5th. Stockholders of record on Wednesday, August 21st were issued 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 3.77%. Chord Energy’s dividend payout ratio is presently 23.46%.

Wall Street Analyst Weigh In

CHRD has been the topic of a number of research reports. Piper Sandler lowered their target price on shares of Chord Energy from $234.00 to $206.00 and set an “overweight” rating on the stock in a research report on Thursday, August 15th. Wolfe Research initiated coverage on shares of Chord Energy in a research report on Thursday, July 18th. They set a “peer perform” rating on the stock. Citigroup dropped their price objective on shares of Chord Energy from $195.00 to $180.00 and set a “buy” rating on the stock in a research note on Monday, August 12th. Jefferies Financial Group assumed coverage on shares of Chord Energy in a research note on Thursday, September 5th. They set a “hold” rating and a $160.00 target price for the company. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $200.00 price target on shares of Chord Energy in a research report on Thursday, September 5th. Two equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, Chord Energy currently has a consensus rating of “Moderate Buy” and a consensus price target of $202.10.

Insider Activity at Chord Energy

In related news, Director Samantha Holroyd bought 500 shares of the stock in a transaction on Friday, August 23rd. The shares were bought at an average cost of $149.51 per share, for a total transaction of $74,755.00. Following the completion of the transaction, the director now owns 14,417 shares of the company’s stock, valued at approximately $2,155,485.67. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company 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.