New Mexico Educational Retirement Board Purchases 4,200 Shares of Chord Energy Co. (NASDAQ:CHRD)

New Mexico Educational Retirement Board lifted its position in Chord Energy Co. (NASDAQ:CHRD) by 49.4% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,700 shares of the company’s stock after buying an additional 4,200 shares during the period. New Mexico Educational Retirement Board’s holdings in Chord Energy were worth $2,130,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in CHRD. Victory Capital Management Inc. raised its holdings in Chord Energy by 397.5% during the 2nd quarter. Victory Capital Management Inc. now owns 1,589,061 shares of the company’s stock worth $266,454,000 after buying an additional 1,269,658 shares during the period. First Trust Advisors LP raised its holdings in shares of Chord Energy by 11.0% during the fourth quarter. First Trust Advisors LP now owns 1,402,359 shares of the company’s stock worth $233,114,000 after acquiring an additional 138,957 shares during the period. Boston Partners raised its holdings in shares of Chord Energy by 107.0% during the first quarter. Boston Partners now owns 1,305,942 shares of the company’s stock worth $232,813,000 after acquiring an additional 674,965 shares during the period. Bank of New York Mellon Corp lifted its position 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 valued at $127,747,000 after acquiring an additional 165,196 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in Chord Energy by 3.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 670,548 shares of the company’s stock worth $111,468,000 after purchasing an additional 21,399 shares during the period. Institutional investors and hedge funds own 97.76% of the company’s stock.

Chord Energy Stock Performance

NASDAQ CHRD opened at $134.37 on Friday. The firm has a market capitalization of $5.60 billion, a P/E ratio of 6.31, a price-to-earnings-growth ratio of 0.88 and a beta of 0.99. The company has a current ratio of 0.96, a quick ratio of 0.91 and a debt-to-equity ratio of 0.11. The firm’s fifty day moving average price is $160.03 and its two-hundred day moving average price is $169.13. Chord Energy Co. has a 1 year low of $133.96 and a 1 year high of $190.23.

Chord Energy (NASDAQ:CHRD) last released its quarterly earnings data on Wednesday, August 7th. The company reported $4.69 earnings per share for the quarter, missing the consensus estimate of $5.00 by ($0.31). The firm had revenue of $902.70 million for the quarter, compared to analyst estimates of $982.43 million. Chord Energy had a return on equity of 15.06% and a net margin of 20.83%. The firm’s revenue for the quarter was up 29.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.65 earnings per share. As a group, research analysts anticipate that Chord Energy Co. will post 19.61 EPS for the current 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 paid a dividend of $1.25 per share. The ex-dividend date of this dividend was Wednesday, August 21st. This represents a $5.00 annualized dividend and a dividend yield of 3.72%. Chord Energy’s dividend payout ratio is currently 23.46%.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Truist Financial dropped their price target 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. Citigroup cut their target price on 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 started coverage on Chord Energy in a research report on Thursday. They set a “hold” rating and a $160.00 price target for the company. Piper Sandler lowered their price objective on shares of Chord Energy from $234.00 to $206.00 and set an “overweight” rating on the stock in a report on Thursday, August 15th. Finally, Wolfe Research initiated coverage on shares of Chord Energy in a report on Thursday, July 18th. They set a “peer perform” rating for the company. Two research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $202.10.

Insider Transactions at Chord Energy

In other Chord Energy news, Director Samantha Holroyd purchased 500 shares of the business’s stock in a transaction on Friday, August 23rd. The stock was acquired at an average price of $149.51 per share, with a total value of $74,755.00. Following the acquisition, the director now directly owns 14,417 shares of the company’s stock, valued at approximately $2,155,485.67. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.70% of the stock is currently owned by corporate insiders.

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.