16,500 Shares in Chord Energy Corporation $CHRD Acquired by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System acquired a new stake in shares of Chord Energy Corporation (NASDAQ:CHRD) in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 16,500 shares of the company’s stock, valued at approximately $2,346,000.

Other hedge funds also recently bought and sold shares of the company. Orion Porfolio Solutions LLC increased its stake in Chord Energy by 6,714.2% in the second 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. Dimensional Fund Advisors LP boosted its stake in shares of 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 purchasing an additional 561,899 shares during the period. AQR Capital Management LLC grew its holdings in shares of 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 purchasing an additional 497,789 shares during the last quarter. Barclays PLC grew its holdings in shares of Chord Energy by 186.2% in the third quarter. Barclays PLC now owns 501,170 shares of the company’s stock worth $49,801,000 after purchasing an additional 326,054 shares during the last quarter. Finally, Wellington Management Group LLP increased its stake in Chord Energy by 19.9% in the 3rd quarter. Wellington Management Group LLP now owns 1,705,153 shares of the company’s stock worth $169,441,000 after buying an additional 282,746 shares during the period. Institutional investors own 97.76% of the company’s stock.

Insider Buying and Selling at Chord Energy

In related news, COO Darrin J. Henke sold 1,276 shares of the firm’s stock in a transaction dated Friday, May 15th. The stock was sold at an average price of $145.97, for a total transaction of $186,257.72. Following the sale, the chief operating officer owned 21,157 shares of the company’s stock, valued at $3,088,287.29. This trade represents a 5.69% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Douglas E. Brooks sold 1,500 shares of Chord Energy stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $138.57, for a total value of $207,855.00. Following the completion of the transaction, the director owned 18,705 shares in the company, valued at $2,591,951.85. This trade represents a 7.42% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 9,276 shares of company stock worth $1,285,968 in the last ninety days. Insiders own 0.79% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Williams Trading set a $189.00 price objective on shares of Chord Energy in a report on Monday, April 20th. Truist Financial reduced their target price on shares of Chord Energy from $187.00 to $185.00 and set a “buy” rating on the stock in a research report on Friday, May 8th. Morgan Stanley decreased their price target on shares of Chord Energy from $175.00 to $169.00 and set an “overweight” rating for the company in a research note on Monday. BMO Capital Markets reiterated an “outperform” rating on shares of Chord Energy in a report on Monday. Finally, Zacks Research cut Chord Energy from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, June 9th. Eleven analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Chord Energy currently has an average rating of “Moderate Buy” and a consensus price target of $157.08.

Chord Energy Stock Down 0.5%

NASDAQ:CHRD opened at $115.97 on Tuesday. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.02 and a quick ratio of 0.96. Chord Energy Corporation has a 1-year low of $84.25 and a 1-year high of $151.95. The company has a 50-day moving average of $135.40 and a 200 day moving average of $118.56. The firm has a market cap of $6.53 billion, a PE ratio of -102.63 and a beta of 0.48.

Chord Energy (NASDAQ:CHRD) last posted its earnings results on Tuesday, May 5th. The company reported $4.56 EPS for the quarter, beating analysts’ consensus estimates of $3.51 by $1.05. Chord Energy had a negative net margin of 1.25% and a positive return on equity of 7.06%. The business had revenue of $1.67 billion for the quarter, compared to the consensus estimate of $1.21 billion. During the same quarter last year, the firm posted $4.04 EPS. The company’s revenue for the quarter was up 37.1% on a year-over-year basis. As a group, research analysts anticipate that Chord Energy Corporation will post 20.53 EPS for the current fiscal year.

Chord Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, June 5th. Shareholders of record on Wednesday, May 20th were issued a dividend of $1.30 per share. The ex-dividend date was Wednesday, May 20th. This represents a $5.20 dividend on an annualized basis and a yield of 4.5%. Chord Energy’s dividend payout ratio is currently -460.18%.

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.