Retirement Systems of Alabama Reduces Position in Chord Energy Corporation (NASDAQ:CHRD)

Retirement Systems of Alabama trimmed its position in shares of Chord Energy Corporation (NASDAQ:CHRD - Free Report) by 4.8% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 154,902 shares of the company's stock after selling 7,726 shares during the period. Retirement Systems of Alabama owned 0.26% of Chord Energy worth $17,461,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Natixis Advisors LLC bought a new stake in shares of Chord Energy during the 4th quarter valued at $1,191,000. JPMorgan Chase & Co. increased its holdings in Chord Energy by 3.3% in the 4th quarter. JPMorgan Chase & Co. now owns 263,288 shares of the company's stock valued at $30,784,000 after acquiring an additional 8,455 shares during the last quarter. SG Americas Securities LLC increased its holdings in Chord Energy by 309.8% in the 1st quarter. SG Americas Securities LLC now owns 11,092 shares of the company's stock valued at $1,250,000 after acquiring an additional 8,385 shares during the last quarter. M&T Bank Corp bought a new stake in Chord Energy in the 4th quarter valued at $1,004,000. Finally, Raymond James Financial Inc. bought a new stake in Chord Energy in the 4th quarter valued at $29,984,000. 97.76% of the stock is currently owned by institutional investors.

Chord Energy Trading Down 0.5%

CHRD traded down $0.51 on Friday, reaching $104.08. 1,991,946 shares of the company traded hands, compared to its average volume of 894,107. Chord Energy Corporation has a one year low of $79.83 and a one year high of $181.17. The firm has a fifty day simple moving average of $94.94 and a two-hundred day simple moving average of $105.98. The company has a market cap of $6.01 billion, a P/E ratio of 6.96, a price-to-earnings-growth ratio of 7.21 and a beta of 0.96. The company has a quick ratio of 0.83, a current ratio of 0.89 and a debt-to-equity ratio of 0.09.

Chord Energy (NASDAQ:CHRD - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The company reported $4.04 earnings per share for the quarter, beating analysts' consensus estimates of $3.60 by $0.44. Chord Energy had a net margin of 16.15% and a return on equity of 10.34%. The company had revenue of $1.22 billion during the quarter, compared to analyst estimates of $1.07 billion. During the same quarter last year, the business posted $5.10 EPS. The firm's revenue for the quarter was up 12.0% on a year-over-year basis. As a group, equities research analysts expect that Chord Energy Corporation will post 15.59 earnings per share for the current year.

Chord Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 9th. Stockholders of record on Wednesday, May 21st were issued a $1.30 dividend. The ex-dividend date was Wednesday, May 21st. This represents a $5.20 annualized dividend and a dividend yield of 5.00%. Chord Energy's dividend payout ratio is currently 34.78%.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the stock. Williams Trading set a $155.00 price target on shares of Chord Energy in a report on Wednesday, March 5th. Citigroup reduced their price target on shares of Chord Energy from $135.00 to $120.00 and set a "buy" rating on the stock in a report on Monday, April 7th. Morgan Stanley set a $139.00 price target on shares of Chord Energy and gave the company a "cautious" rating in a report on Wednesday, March 26th. Wells Fargo & Company dropped their price objective on shares of Chord Energy from $158.00 to $142.00 and set an "overweight" rating for the company in a research note on Monday, June 16th. Finally, Mizuho dropped their price objective on shares of Chord Energy from $154.00 to $150.00 and set an "outperform" rating for the company in a research note on Tuesday, May 13th. Two analysts have rated the stock with a sell rating, one has given a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Chord Energy has an average rating of "Moderate Buy" and a consensus target price of $152.54.

Insider Activity

In other news, EVP Shannon Browning Kinney sold 3,091 shares of the business's stock in a transaction dated Thursday, May 8th. The shares were sold at an average price of $94.10, for a total value of $290,863.10. Following the completion of the sale, the executive vice president now owns 21,277 shares in the company, valued at approximately $2,002,165.70. The trade was a 12.68% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.70% of the company's stock.

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.