South Dakota Investment Council Acquires 8,246 Shares of Chord Energy Corporation $CHRD

South Dakota Investment Council raised its stake in shares of Chord Energy Corporation (NASDAQ:CHRD) by 6.1% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 143,615 shares of the company’s stock after buying an additional 8,246 shares during the quarter. South Dakota Investment Council’s holdings in Chord Energy were worth $13,909,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Versor Investments LP boosted its position in shares of Chord Energy by 117.3% during the second quarter. Versor Investments LP now owns 6,279 shares of the company’s stock worth $608,000 after acquiring an additional 3,389 shares during the last quarter. Assetmark Inc. lifted its stake in Chord Energy by 7.3% in the 2nd quarter. Assetmark Inc. now owns 1,417 shares of the company’s stock worth $137,000 after purchasing an additional 96 shares in the last quarter. Hantz Financial Services Inc. boosted its holdings in shares of Chord Energy by 11,140.0% during the 2nd quarter. Hantz Financial Services Inc. now owns 1,124 shares of the company’s stock valued at $109,000 after purchasing an additional 1,114 shares during the last quarter. Teacher Retirement System of Texas grew its position in shares of Chord Energy by 2.7% during the second quarter. Teacher Retirement System of Texas now owns 24,844 shares of the company’s stock valued at $2,406,000 after purchasing an additional 655 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd grew its position in shares of Chord Energy by 52.9% during the second quarter. Y Intercept Hong Kong Ltd now owns 17,293 shares of the company’s stock valued at $1,675,000 after purchasing an additional 5,985 shares in the last quarter. Institutional investors own 97.76% of the company’s stock.

Insider Activity

In other news, EVP Shannon Browning Kinney sold 3,019 shares of the company’s stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $105.43, for a total transaction of $318,293.17. Following the transaction, the executive vice president owned 14,650 shares of the company’s stock, valued at approximately $1,544,549.50. This represents a 17.09% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.70% of the stock is owned by company insiders.

Chord Energy Stock Up 0.5%

Shares of CHRD opened at $90.72 on Monday. The company has a quick ratio of 0.90, a current ratio of 0.97 and a debt-to-equity ratio of 0.11. The business has a fifty day moving average of $99.58 and a 200 day moving average of $99.70. The company has a market cap of $5.19 billion, a PE ratio of 23.08 and a beta of 0.92. Chord Energy Corporation has a 52-week low of $79.83 and a 52-week high of $136.38.

Chord Energy (NASDAQ:CHRD) last announced its earnings results on Wednesday, August 6th. The company reported $1.79 earnings per share for the quarter, missing the consensus estimate of $1.88 by ($0.09). The firm had revenue of $1.18 billion during the quarter, compared to analysts’ expectations of $984.07 million. Chord Energy had a net margin of 5.02% and a return on equity of 9.02%. The company’s revenue was up 5.3% compared to the same quarter last year. During the same period in the prior year, the company posted $4.69 EPS. On average, sell-side analysts expect that Chord Energy Corporation will post 15.59 EPS for the current year.

Chord Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 8th. Shareholders of record on Thursday, August 21st were paid a $1.30 dividend. The ex-dividend date of this dividend was Thursday, August 21st. This represents a $5.20 annualized dividend and a yield of 5.7%. Chord Energy’s dividend payout ratio (DPR) is presently 132.32%.

Analysts Set New Price Targets

A number of brokerages recently commented on CHRD. Bank of America increased their price target on Chord Energy from $112.00 to $123.00 and gave the company a “buy” rating in a research note on Wednesday, September 17th. Morgan Stanley lowered their target price on Chord Energy from $131.00 to $128.00 and set an “equal weight” rating for the company in a research report on Tuesday, October 14th. Royal Bank Of Canada restated an “outperform” rating and issued a $130.00 price target on shares of Chord Energy in a research report on Monday, October 6th. UBS Group upped their price target on shares of Chord Energy from $122.00 to $130.00 and gave the company a “buy” rating in a research note on Tuesday, September 16th. Finally, Citigroup lifted their price objective on shares of Chord Energy from $120.00 to $125.00 and gave the stock a “buy” rating in a research note on Wednesday, July 9th. Ten research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $138.38.

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.