17,423 Shares in Chord Energy Corporation $CHRD Acquired by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio bought a new position in Chord Energy Corporation (NASDAQ:CHRD) in the second quarter, HoldingsChannel.com reports. The fund bought 17,423 shares of the company’s stock, valued at approximately $1,991,000.

A number of other hedge funds have also added to or reduced their stakes in the stock. Orion Porfolio Solutions LLC lifted its stake in shares of Chord Energy by 6,714.2% in the 2nd quarter. Orion Porfolio Solutions LLC now owns 709,086 shares of the company’s stock worth $68,675,000 after purchasing an additional 698,680 shares during the period. Bank of New York Mellon Corp purchased a new stake in Chord Energy during the second quarter valued at approximately $66,489,000. Dimensional Fund Advisors LP increased its holdings in Chord Energy by 85.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,218,167 shares of the company’s stock valued at $112,927,000 after buying an additional 561,899 shares during the last quarter. AQR Capital Management LLC raised its position in Chord Energy by 210.5% in the second quarter. AQR Capital Management LLC now owns 734,225 shares of the company’s stock worth $71,110,000 after acquiring an additional 497,789 shares during the period. Finally, Jennison Associates LLC purchased a new position in shares of Chord Energy during the 1st quarter worth $60,190,000. 97.76% of the stock is currently owned by hedge funds and other institutional investors.

Chord Energy Price Performance

CHRD stock opened at $146.39 on Monday. Chord Energy Corporation has a one year low of $84.25 and a one year high of $153.00. The company’s fifty day moving average price is $133.51 and its 200-day moving average price is $131.91. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.15 and a current ratio of 1.22. The company has a market capitalization of $8.01 billion, a PE ratio of 9.81 and a beta of 0.50.

Chord Energy (NASDAQ:CHRD) last issued its earnings results on Wednesday, August 5th. The company reported $6.44 earnings per share for the quarter, missing analysts’ consensus estimates of $6.55 by ($0.11). The company had revenue of $2.17 billion for the quarter, compared to the consensus estimate of $1.62 billion. Chord Energy had a return on equity of 10.18% and a net margin of 13.42%.Chord Energy’s revenue was up 128.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.79 EPS. On average, equities analysts anticipate that Chord Energy Corporation will post 19.33 EPS for the current fiscal year.

Chord Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 4th. Shareholders of record on Thursday, August 20th were issued a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a dividend yield of 3.6%. The ex-dividend date of this dividend was Thursday, August 20th. Chord Energy’s dividend payout ratio is 34.85%.

Analysts Set New Price Targets

Several research firms have recently commented on CHRD. Seaport Research Partners began coverage on Chord Energy in a research note on Thursday. They issued a “neutral” rating for the company. Wells Fargo & Company boosted their price target on Chord Energy from $163.00 to $175.00 and gave the company an “overweight” rating in a report on Wednesday. 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. Truist Financial decreased their price objective on Chord Energy from $170.00 to $166.00 and set a “buy” rating on the stock in a research note on Monday, August 10th. Finally, UBS Group lifted their price objective on Chord Energy from $153.00 to $171.00 and gave the company a “buy” rating in a research report on Wednesday, August 12th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Chord Energy currently has an average rating of “Moderate Buy” and a consensus target price of $153.46.

Insider Buying and Selling at Chord Energy

In other news, EVP Shannon Kinney sold 4,019 shares of the firm’s stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $140.00, for a total transaction of $562,660.00. Following the completion of the transaction, the executive vice president owned 13,560 shares in the company, valued at $1,898,400. This trade represents a 22.86% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Samantha Mckinney sold 9,750 shares of Chord Energy stock in a transaction dated Tuesday, September 1st. The stock was sold at an average price of $149.94, for a total value of $1,461,915.00. Following the completion of the sale, the director directly owned 7,280 shares in the company, valued at $1,091,563.20. This trade represents a 57.25% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 23,969 shares of company stock valued at $3,389,599 in the last 90 days. Insiders own 0.79% of the company’s stock.

About Chord Energy

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.