California State Teachers Retirement System Purchases 12,442 Shares of Chord Energy Corporation $CHRD

Key Points

• California State Teachers Retirement System increased its Chord Energy stake by 22.9%, buying 12,442 shares to own 66,864 shares valued at approximately $9.5 million. Institutional investors collectively hold 97.76% of the company.
• Chord Energy reported first-quarter EPS of $4.56, surpassing the $3.51 analyst consensus, while revenue rose 37.1% year over year to $1.67 billion.
• Analysts maintain a generally positive outlook, with 11 Buy and five Hold ratings, an overall “Moderate Buy” consensus, and an average price target of $152.38. Meanwhile, company insiders sold 9,276 shares worth roughly $1.29 million over the past three months.

California State Teachers Retirement System raised its position in shares of Chord Energy Corporation (NASDAQ:CHRD - Free Report) by 22.9% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 66,864 shares of the company's stock after buying an additional 12,442 shares during the quarter. California State Teachers Retirement System owned about 0.12% of Chord Energy worth $9,507,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the company. Bessemer Group Inc. increased its position in Chord Energy by 63.8% in the first quarter. Bessemer Group Inc. now owns 190 shares of the company's stock worth $27,000 after purchasing an additional 74 shares during the last quarter. Blue Trust Inc. lifted its position in Chord Energy by 22.2% during the first quarter. Blue Trust Inc. now owns 463 shares of the company's stock valued at $66,000 after purchasing an additional 84 shares during the last quarter. SBI Securities Co. Ltd. lifted its position in Chord Energy by 16.5% during the fourth quarter. SBI Securities Co. Ltd. now owns 797 shares of the company's stock valued at $74,000 after purchasing an additional 113 shares during the last quarter. WealthCollab LLC grew its stake in shares of Chord Energy by 90.6% in the 2nd quarter. WealthCollab LLC now owns 305 shares of the company's stock worth $30,000 after buying an additional 145 shares in the last quarter. Finally, Root Financial Partners LLC increased its holdings in shares of Chord Energy by 178.6% in the 1st quarter. Root Financial Partners LLC now owns 234 shares of the company's stock worth $33,000 after buying an additional 150 shares during the last quarter. Institutional investors own 97.76% of the company's stock.

Insiders Place Their Bets

In other news, Director Douglas E. Brooks sold 3,500 shares of the firm's stock in a transaction on Friday, May 8th. The stock was sold at an average price of $136.71, for a total transaction of $478,485.00. Following the transaction, the director owned 20,205 shares in the company, valued at approximately $2,762,225.55. This trade represents a 14.76% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, COO Darrin J. Henke sold 1,276 shares of the company'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 completion of the sale, the chief operating officer directly owned 21,157 shares of the company's stock, valued at approximately $3,088,287.29. This trade represents a 5.69% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 9,276 shares of company stock worth $1,285,968 in the last three months. Corporate insiders own 0.79% of the company's stock.

Chord Energy Stock Performance

Shares of NASDAQ:CHRD opened at $139.33 on Tuesday. The firm has a market cap of $7.84 billion, a PE ratio of -123.30 and a beta of 0.48. The firm's 50 day simple moving average is $128.16 and its 200-day simple moving average is $124.44. Chord Energy Corporation has a one year low of $84.25 and a one year high of $151.95. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.96 and a current ratio of 1.02.

Chord Energy (NASDAQ:CHRD - Get Free Report) last announced its quarterly earnings results on Tuesday, May 5th. The company reported $4.56 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.51 by $1.05. The firm had revenue of $1.67 billion during the quarter, compared to analyst estimates of $1.21 billion. Chord Energy had a positive return on equity of 7.06% and a negative net margin of 1.25%.Chord Energy's quarterly revenue was up 37.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $4.04 earnings per share. As a group, equities analysts predict that Chord Energy Corporation will post 18.32 EPS for the current year.

Analyst Ratings Changes

A number of research analysts recently commented on the stock. Wall Street Zen downgraded shares of Chord Energy from a "strong-buy" rating to a "buy" rating in a report on Saturday, June 27th. Roth Capital reissued a "buy" rating and set a $145.00 price objective on shares of Chord Energy in a research note on Wednesday, July 15th. Wells Fargo & Company upped their price objective on Chord Energy from $136.00 to $175.00 and gave the company an "overweight" rating in a research report on Wednesday, April 8th. BMO Capital Markets reaffirmed an "outperform" rating on shares of Chord Energy in a research note on Monday, June 29th. Finally, Williams Trading set a $189.00 target price on Chord Energy in a report on Monday, April 20th. Eleven analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $152.38.

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.

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