South Dakota Investment Council Has $18.89 Million Holdings in Chord Energy Corporation $CHRD

South Dakota Investment Council decreased its stake in Chord Energy Corporation (NASDAQ:CHRD) by 4.0% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 132,890 shares of the company’s stock after selling 5,491 shares during the period. South Dakota Investment Council’s holdings in Chord Energy were worth $18,894,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of CHRD. Bessemer Group Inc. raised its stake in Chord Energy by 63.8% during the first quarter. Bessemer Group Inc. now owns 190 shares of the company’s stock worth $27,000 after acquiring an additional 74 shares in the last quarter. V Square Quantitative Management LLC acquired a new stake in shares of Chord Energy in the 1st quarter valued at $29,000. WealthCollab LLC boosted its stake in shares of Chord Energy by 90.6% in the 2nd quarter. WealthCollab LLC now owns 305 shares of the company’s stock valued at $30,000 after purchasing an additional 145 shares in the last quarter. Root Financial Partners LLC boosted its stake in shares of Chord Energy by 178.6% in the 1st quarter. Root Financial Partners LLC now owns 234 shares of the company’s stock valued at $33,000 after purchasing an additional 150 shares in the last quarter. Finally, Rockefeller Capital Management L.P. grew its holdings in shares of Chord Energy by 213.1% in the 4th quarter. Rockefeller Capital Management L.P. now owns 501 shares of the company’s stock worth $47,000 after purchasing an additional 341 shares during the last quarter. 97.76% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on CHRD. Morgan Stanley dropped their target price on shares of Chord Energy from $175.00 to $169.00 and set an “overweight” rating for the company in a research report on Monday, June 29th. Roth Capital restated a “buy” rating and issued a $145.00 price target on shares of Chord Energy in a research report on Wednesday, July 15th. Zacks Research cut shares of Chord Energy from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, June 9th. Truist Financial dropped their price objective on shares of Chord Energy from $185.00 to $170.00 and set a “buy” rating for the company in a report on Tuesday, July 7th. Finally, Scotiabank lifted their target price on shares of Chord Energy from $114.00 to $135.00 and gave the company a “sector perform” rating in a research note on Wednesday, April 22nd. Eleven research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $152.38.

Chord Energy Price Performance

Shares of CHRD stock opened at $136.47 on Thursday. Chord Energy Corporation has a 52 week low of $84.25 and a 52 week high of $151.95. The stock has a market capitalization of $7.68 billion, a PE ratio of -120.77 and a beta of 0.49. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.96 and a current ratio of 1.02. The stock’s fifty day moving average is $128.42 and its 200-day moving average is $123.44.

Chord Energy (NASDAQ:CHRD) last released its quarterly earnings results on Tuesday, May 5th. The company reported $4.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.51 by $1.05. The business had revenue of $1.67 billion during the quarter, compared to analysts’ expectations of $1.21 billion. Chord Energy had a positive return on equity of 7.06% and a negative net margin of 1.25%.The firm’s revenue for the quarter was up 37.1% compared to the same quarter last year. During the same period in the previous year, the business posted $4.04 earnings per share. Equities research analysts expect that Chord Energy Corporation will post 18.32 EPS for the current fiscal year.

Chord Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 5th. Shareholders of record on Wednesday, May 20th were given a $1.30 dividend. This represents a $5.20 annualized dividend and a yield of 3.8%. The ex-dividend date was Wednesday, May 20th. Chord Energy’s dividend payout ratio (DPR) is presently -460.18%.

Insider Transactions at Chord Energy

In other Chord Energy news, Director Douglas E. Brooks sold 3,500 shares of the business’s stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $136.71, for a total value of $478,485.00. Following the completion of the transaction, the director directly owned 20,205 shares of the company’s stock, valued at approximately $2,762,225.55. The trade was a 14.76% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, COO Darrin J. Henke sold 1,276 shares of the company’s stock in a transaction that occurred on Friday, May 15th. The stock was sold at an average price of $145.97, for a total transaction of $186,257.72. Following the transaction, the chief operating officer owned 21,157 shares in the company, valued at $3,088,287.29. The trade was a 5.69% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 9,276 shares of company stock valued at $1,285,968. Insiders own 0.79% of the company’s stock.

Chord Energy Profile

Chord Energy Corporation (NASDAQ: CHRD), formerly known as Oasis Petroleum Inc, is an independent exploration and production company focused on the acquisition, development and production of crude oil, natural gas and natural gas liquids. Headquartered in Houston, Texas, Chord Energy emerged from financial restructuring in early 2021 and rebranded in October 2022 to reflect its renewed strategic vision.

The company’s core operations are concentrated in two prolific U.S. resource plays: the Williston Basin across North Dakota and Montana, and the Delaware Basin spanning parts of West Texas and southeastern New Mexico.