Louisiana State Employees Retirement System Acquires Shares of 11,600 Chord Energy Co. (NASDAQ:CHRD)

Louisiana State Employees Retirement System acquired a new stake in Chord Energy Co. (NASDAQ:CHRD) during the fourth quarter, according to its most recent filing with the SEC. The firm acquired 11,600 shares of the company’s stock, valued at approximately $1,928,000.

A number of other hedge funds have also recently bought and sold shares of the company. BlackRock Inc. grew its stake in shares of Chord Energy by 50.4% during the first quarter. BlackRock Inc. now owns 4,888,058 shares of the company’s stock worth $657,933,000 after purchasing an additional 1,638,278 shares during the period. First Trust Advisors LP grew its stake in shares of Chord Energy by 514.8% during the first quarter. First Trust Advisors LP now owns 1,477,124 shares of the company’s stock worth $198,821,000 after purchasing an additional 1,236,882 shares during the period. Charles Schwab Investment Management Inc. acquired a new stake in shares of Chord Energy during the fourth quarter worth $59,579,000. FMR LLC grew its stake in shares of Chord Energy by 12.9% during the third quarter. FMR LLC now owns 3,185,243 shares of the company’s stock worth $516,232,000 after purchasing an additional 364,673 shares during the period. Finally, State Street Corp grew its stake in shares of Chord Energy by 22.5% during the first quarter. State Street Corp now owns 1,903,685 shares of the company’s stock worth $256,236,000 after purchasing an additional 349,592 shares during the period. 97.76% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CFO Michael H. Lou sold 3,000 shares of the business’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $165.00, for a total value of $495,000.00. Following the sale, the chief financial officer now directly owns 128,209 shares in the company, valued at $21,154,485. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.70% of the company’s stock.

Analysts Set New Price Targets

CHRD has been the subject of a number of analyst reports. Piper Sandler lifted their price objective on Chord Energy from $218.00 to $219.00 and gave the stock an “overweight” rating in a research note on Thursday, March 7th. Stifel Nicolaus boosted their target price on Chord Energy from $178.00 to $211.00 and gave the company a “buy” rating in a research note on Tuesday, February 27th. Bank of America cut Chord Energy from a “buy” rating to an “underperform” rating and decreased their target price for the company from $177.00 to $165.00 in a research note on Friday, January 5th. Truist Financial decreased their target price on Chord Energy from $229.00 to $224.00 and set a “buy” rating for the company in a research note on Friday, April 5th. Finally, Mizuho boosted their target price on Chord Energy from $189.00 to $195.00 and gave the company a “buy” rating in a research note on Thursday, March 14th. One analyst has rated the stock with a sell rating, one has issued a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $190.40.

Chord Energy Stock Performance

Shares of Chord Energy stock opened at $178.65 on Friday. The firm has a market cap of $7.42 billion, a price-to-earnings ratio of 7.59 and a beta of 1.06. The stock’s 50-day moving average is $170.08 and its 200-day moving average is $164.39. Chord Energy Co. has a one year low of $133.34 and a one year high of $190.23. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.22 and a quick ratio of 1.16.

Chord Energy (NASDAQ:CHRD) last issued its quarterly earnings results on Wednesday, February 21st. The company reported $5.25 EPS for the quarter, beating analysts’ consensus estimates of $5.04 by $0.21. The company had revenue of $964.69 million for the quarter, compared to analyst estimates of $891.67 million. Chord Energy had a return on equity of 16.35% and a net margin of 26.27%. Equities analysts predict that Chord Energy Co. will post 21.71 earnings per share for the current fiscal year.

Chord Energy Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 19th. Stockholders of record on Tuesday, March 5th were issued a $3.25 dividend. This represents a $13.00 dividend on an annualized basis and a dividend yield of 7.28%. This is a positive change from Chord Energy’s previous quarterly dividend of $1.25. The ex-dividend date of this dividend was Monday, March 4th. Chord Energy’s payout ratio is 21.25%.

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.