State of New Jersey Common Pension Fund D Purchases 624 Shares of Chord Energy Co. (NASDAQ:CHRD)

State of New Jersey Common Pension Fund D raised its position in Chord Energy Co. (NASDAQ:CHRD) by 3.6% during the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 18,066 shares of the company’s stock after acquiring an additional 624 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Chord Energy were worth $3,029,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of CHRD. Victory Capital Management Inc. grew its holdings in Chord Energy by 397.5% during the second quarter. Victory Capital Management Inc. now owns 1,589,061 shares of the company’s stock valued at $266,454,000 after purchasing an additional 1,269,658 shares during the period. First Trust Advisors LP lifted its position in shares of Chord Energy by 11.0% during the 4th quarter. First Trust Advisors LP now owns 1,402,359 shares of the company’s stock valued at $233,114,000 after buying an additional 138,957 shares in the last quarter. Boston Partners grew its stake in shares of Chord Energy by 107.0% during the 1st quarter. Boston Partners now owns 1,305,942 shares of the company’s stock valued at $232,813,000 after acquiring an additional 674,965 shares during the period. Bank of New York Mellon Corp increased its holdings in Chord Energy by 27.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 761,852 shares of the company’s stock worth $127,747,000 after acquiring an additional 165,196 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC raised its stake in Chord Energy by 4.9% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 558,329 shares of the company’s stock worth $93,621,000 after acquiring an additional 26,185 shares during the period. 97.76% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Samantha Holroyd acquired 500 shares of the firm’s stock in a transaction on Friday, August 23rd. The shares were acquired 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 directly owns 14,417 shares in the company, valued at approximately $2,155,485.67. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.70% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of analysts have recently issued reports on CHRD shares. Piper Sandler reduced their price objective on shares of Chord Energy from $234.00 to $206.00 and set an “overweight” rating for the company in a research note on Thursday, August 15th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $200.00 target price on shares of Chord Energy in a report on Thursday, September 5th. Bank of America raised their price target on Chord Energy from $201.00 to $208.00 and gave the company a “buy” rating in a report on Wednesday, August 21st. Jefferies Financial Group assumed coverage on Chord Energy in a research note on Thursday, September 5th. They issued a “hold” rating and a $160.00 price objective for the company. Finally, Truist Financial decreased their target price on Chord Energy from $226.00 to $223.00 and set a “buy” rating on the stock in a research note on Monday, July 22nd. Two equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $202.10.

Chord Energy Stock Performance

NASDAQ CHRD opened at $135.95 on Thursday. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.96 and a quick ratio of 0.91. Chord Energy Co. has a 1-year low of $129.75 and a 1-year high of $190.23. The business has a 50 day simple moving average of $154.20 and a two-hundred day simple moving average of $167.53. The stock has a market capitalization of $5.67 billion, a PE ratio of 6.38, a P/E/G ratio of 4.48 and a beta of 0.99.

Chord Energy (NASDAQ:CHRD) last posted its earnings results 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). The business had revenue of $902.70 million during the quarter, compared to analysts’ expectations of $982.43 million. Chord Energy had a net margin of 20.83% and a return on equity of 15.06%. The company’s revenue for the quarter was up 29.8% compared to the same quarter last year. During the same period last year, the business posted $3.65 earnings per share. On average, research analysts predict that Chord Energy Co. will post 19.67 EPS for the current fiscal year.

Chord Energy Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 5th. Stockholders of record on Wednesday, August 21st were given a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a dividend yield of 3.68%. The ex-dividend date of this dividend was Wednesday, August 21st. Chord Energy’s dividend payout ratio is 23.46%.

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.