California State Teachers Retirement System Cuts Stake in Chord Energy Co. (NASDAQ:CHRD)

California State Teachers Retirement System trimmed its stake in Chord Energy Co. (NASDAQ:CHRD - Free Report) by 24.9% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 57,871 shares of the company's stock after selling 19,200 shares during the period. California State Teachers Retirement System owned about 0.10% of Chord Energy worth $6,766,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Altshuler Shaham Ltd acquired a new position in shares of Chord Energy in the fourth quarter valued at approximately $25,000. Twin Tree Management LP acquired a new position in Chord Energy during the 4th quarter worth approximately $33,000. Larson Financial Group LLC grew its holdings in Chord Energy by 238.3% during the 4th quarter. Larson Financial Group LLC now owns 318 shares of the company's stock worth $37,000 after acquiring an additional 224 shares in the last quarter. R Squared Ltd acquired a new position in Chord Energy during the 4th quarter worth approximately $51,000. Finally, Venturi Wealth Management LLC grew its holdings in Chord Energy by 1,751.9% during the 4th quarter. Venturi Wealth Management LLC now owns 500 shares of the company's stock worth $58,000 after acquiring an additional 473 shares in the last quarter. 97.76% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Chord Energy

In other Chord Energy news, EVP Shannon Browning Kinney sold 3,091 shares of the firm's stock in a transaction dated Thursday, May 8th. The shares were sold at an average price of $94.10, for a total transaction of $290,863.10. Following the sale, the executive vice president now directly owns 21,277 shares of the company's stock, valued at $2,002,165.70. This trade represents a 12.68% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.70% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Piper Sandler lowered their price target on shares of Chord Energy from $184.00 to $183.00 and set an "overweight" rating for the company in a report on Tuesday, April 22nd. Bank of America reduced their price target on shares of Chord Energy from $114.00 to $112.00 and set a "buy" rating for the company in a research report on Friday, May 23rd. Mizuho reduced their price target on shares of Chord Energy from $154.00 to $150.00 and set an "outperform" rating for the company in a research report on Tuesday, May 13th. Wells Fargo & Company cut their price objective on shares of Chord Energy from $166.00 to $158.00 and set an "overweight" rating for the company in a research report on Tuesday, April 15th. Finally, Williams Trading set a $155.00 price objective on shares of Chord Energy in a research report on Wednesday, March 5th. Two analysts have rated the stock with a sell rating, one has assigned a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $153.77.

Chord Energy Price Performance

Shares of NASDAQ:CHRD traded down $2.92 on Wednesday, reaching $92.81. 610,224 shares of the company were exchanged, compared to its average volume of 929,366. The company has a current ratio of 0.93, a quick ratio of 0.89 and a debt-to-equity ratio of 0.10. Chord Energy Co. has a 1-year low of $79.83 and a 1-year high of $181.17. The firm has a market cap of $5.36 billion, a price-to-earnings ratio of 4.78, a price-to-earnings-growth ratio of 5.83 and a beta of 0.99. The company has a 50-day moving average of $93.76 and a 200-day moving average of $108.46.

Chord Energy (NASDAQ:CHRD - Get Free Report) last issued its quarterly earnings data on Tuesday, May 6th. The company reported $4.04 EPS for the quarter, beating analysts' consensus estimates of $3.60 by $0.44. The firm had revenue of $1.22 billion for the quarter, compared to analysts' expectations of $1.07 billion. Chord Energy had a net margin of 19.74% and a return on equity of 12.88%. The firm's revenue was up 12.0% on a year-over-year basis. During the same period in the prior year, the company earned $5.10 EPS. Equities analysts forecast that Chord Energy Co. will post 15.59 earnings per share for the current fiscal year.

Chord Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 9th. Investors of record on Wednesday, May 21st will be paid a $1.30 dividend. The ex-dividend date is Wednesday, May 21st. This represents a $5.20 dividend on an annualized basis and a yield of 5.60%. Chord Energy's payout ratio is 34.78%.

Chord Energy Company 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.