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

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

Other hedge funds and other institutional investors also recently modified their holdings of the company. Charles Schwab Investment Management Inc. increased its holdings in shares of Chord Energy by 3.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 497,088 shares of the company’s stock worth $82,631,000 after purchasing an additional 14,616 shares during the period. Principal Securities Inc. bought a new position in Chord Energy during the 4th quarter worth $101,000. Johnson Investment Counsel Inc. acquired a new position in Chord Energy in the 4th quarter valued at $211,000. Dimensional Fund Advisors LP lifted its position in shares of Chord Energy by 3.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 670,548 shares of the company’s stock valued at $111,468,000 after acquiring an additional 21,399 shares during the period. Finally, Boston Partners grew its holdings in shares of Chord Energy by 50.8% during the 4th quarter. Boston Partners now owns 630,977 shares of the company’s stock worth $104,815,000 after purchasing an additional 212,463 shares in the last quarter. Institutional investors and hedge funds own 97.76% of the company’s stock.

Insider Activity at Chord Energy

In related news, Director Samantha Holroyd bought 500 shares of the business’s stock in a transaction on Friday, August 23rd. The shares were purchased at an average cost of $149.51 per share, with a total value of $74,755.00. Following the acquisition, the director now owns 14,417 shares of the company’s stock, valued at $2,155,485.67. The purchase was disclosed in a filing with the SEC, which is available through this link. 0.70% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

CHRD has been the subject of a number of analyst reports. BMO Capital Markets began coverage on Chord Energy in a research note on Monday, June 3rd. They issued an “outperform” rating and a $230.00 price target for the company. Truist Financial decreased 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 dropped their price objective on Chord Energy from $195.00 to $180.00 and set a “buy” rating for the company in a research report on Monday, August 12th. Jefferies Financial Group initiated coverage on Chord Energy in a research note on Thursday. They issued a “hold” rating and a $160.00 price objective on the stock. Finally, Mizuho boosted their target price on Chord Energy from $195.00 to $214.00 and gave the stock a “buy” rating in a research note on Monday, May 13th. Two investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $202.10.

Chord Energy Price Performance

Chord Energy stock opened at $134.37 on Friday. The company has a market capitalization of $5.60 billion, a PE ratio of 6.31, a P/E/G 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 stock has a 50-day moving average price of $160.03 and a two-hundred day moving average price of $169.13. Chord Energy Co. has a 12 month low of $133.96 and a 12 month high of $190.23.

Chord Energy (NASDAQ:CHRD) last issued its quarterly earnings data on Wednesday, August 7th. The company reported $4.69 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $5.00 by ($0.31). Chord Energy had a net margin of 20.83% and a return on equity of 15.06%. The business had revenue of $902.70 million during the quarter, compared to the consensus estimate of $982.43 million. During the same quarter last year, the business earned $3.65 EPS. The firm’s quarterly revenue was up 29.8% compared to the same quarter last year. Analysts expect that Chord Energy Co. will post 19.61 EPS for the current year.

Chord Energy Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 5th. Investors of record on Wednesday, August 21st were paid a $1.25 dividend. 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 23.46%.

Chord Energy Profile

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.