Teachers Retirement System of The State of Kentucky Has $4.81 Million Stock Position in Chord Energy Co. (NASDAQ:CHRD)

Teachers Retirement System of The State of Kentucky lowered its holdings in shares of Chord Energy Co. (NASDAQ:CHRD) by 2.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 28,918 shares of the company’s stock after selling 700 shares during the period. Teachers Retirement System of The State of Kentucky owned approximately 0.07% of Chord Energy worth $4,808,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. HighTower Advisors LLC grew its stake in Chord Energy by 19.0% in the third quarter. HighTower Advisors LLC now owns 2,458 shares of the company’s stock valued at $397,000 after acquiring an additional 392 shares during the period. Deutsche Bank AG boosted its position in shares of Chord Energy by 11.1% during the third quarter. Deutsche Bank AG now owns 28,611 shares of the company’s stock valued at $4,637,000 after buying an additional 2,868 shares during the last quarter. Rhumbline Advisers lifted its holdings in Chord Energy by 2.1% during the third quarter. Rhumbline Advisers now owns 142,622 shares of the company’s stock worth $23,115,000 after acquiring an additional 2,925 shares during the period. Envestnet Portfolio Solutions Inc. bought a new stake in Chord Energy during the third quarter worth $434,000. Finally, Envestnet Asset Management Inc. lifted its holdings in Chord Energy by 41.3% during the third quarter. Envestnet Asset Management Inc. now owns 105,611 shares of the company’s stock worth $17,116,000 after acquiring an additional 30,877 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 $162.69 on Tuesday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.07 and a current ratio of 1.14. Chord Energy Co. has a 52-week low of $145.06 and a 52-week high of $190.23. The firm has a market cap of $6.78 billion, a price-to-earnings ratio of 7.63 and a beta of 1.05. The business’s fifty day moving average is $178.68 and its 200 day moving average is $168.52.

Chord Energy (NASDAQ:CHRD) last released its quarterly earnings data on Tuesday, May 7th. The company reported $5.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.75 by $0.35. Chord Energy had a return on equity of 16.57% and a net margin of 22.67%. The company had revenue of $1.09 billion for the quarter, compared to analyst estimates of $771.87 million. During the same period in the previous year, the company posted $4.50 EPS. The firm’s revenue for the quarter was up 24.8% compared to the same quarter last year. Research analysts predict that Chord Energy Co. will post 22.63 EPS for the current year.

Chord Energy Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 5th. Investors of record on Wednesday, May 22nd were given a dividend of $2.94 per share. This represents a $11.76 annualized dividend and a yield of 7.23%. The ex-dividend date of this dividend was Tuesday, May 21st. Chord Energy’s payout ratio is 23.46%.

Analysts Set New Price Targets

CHRD has been the topic of a number of recent analyst reports. Stifel Nicolaus lifted their price target on Chord Energy from $178.00 to $211.00 and gave the stock a “buy” rating in a report on Tuesday, February 27th. Piper Sandler lifted their price target on Chord Energy from $231.00 to $233.00 and gave the stock an “overweight” rating in a report on Friday, May 24th. BMO Capital Markets assumed coverage on Chord Energy in a report on Monday, June 3rd. They set an “outperform” rating and a $230.00 price target on the stock. Truist Financial lowered their target price on Chord Energy from $228.00 to $226.00 and set a “buy” rating on the stock in a research note on Monday, June 3rd. Finally, Mizuho boosted their target price on Chord Energy from $195.00 to $214.00 and gave the company a “buy” rating in a research note on Monday, May 13th. One equities research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $204.00.

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.