Retirement Systems of Alabama Has $17.46 Million Stock Position in Chord Energy Corporation (NASDAQ:CHRD)

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

Several other hedge funds also recently modified their holdings of the company. Blue Trust Inc. boosted its stake in Chord Energy by 24.2% during the first quarter. Blue Trust Inc. now owns 1,377 shares of the company's stock valued at $155,000 after buying an additional 268 shares in the last quarter. State of Alaska Department of Revenue lifted its holdings in Chord Energy by 1.0% in the 1st quarter. State of Alaska Department of Revenue now owns 19,163 shares of the company's stock valued at $2,159,000 after acquiring an additional 190 shares during the last quarter. Rakuten Securities Inc. boosted its position in shares of Chord Energy by 10,914.4% during the 1st quarter. Rakuten Securities Inc. now owns 33,594 shares of the company's stock valued at $3,787,000 after purchasing an additional 33,289 shares in the last quarter. Albert D Mason Inc. grew its stake in shares of Chord Energy by 42.4% in the 1st quarter. Albert D Mason Inc. now owns 7,893 shares of the company's stock worth $890,000 after purchasing an additional 2,350 shares during the last quarter. Finally, Fifth Third Bancorp grew its stake in shares of Chord Energy by 195.8% in the 1st quarter. Fifth Third Bancorp now owns 698 shares of the company's stock worth $79,000 after purchasing an additional 462 shares during the last quarter. 97.76% of the stock is currently owned by institutional investors and hedge funds.

Chord Energy Stock Down 0.9%

Shares of CHRD traded down $0.84 during trading hours on Wednesday, reaching $97.66. The company's stock had a trading volume of 615,003 shares, compared to its average volume of 892,234. The company has a 50 day moving average of $95.51 and a two-hundred day moving average of $105.64. The company has a quick ratio of 0.83, a current ratio of 0.89 and a debt-to-equity ratio of 0.09. The firm has a market cap of $5.64 billion, a price-to-earnings ratio of 6.53, a P/E/G ratio of 6.83 and a beta of 0.96. Chord Energy Corporation has a 1-year low of $79.83 and a 1-year high of $181.17.

Chord Energy (NASDAQ:CHRD - Get Free Report) last announced 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. Chord Energy had a net margin of 16.15% and a return on equity of 10.34%. The firm had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.07 billion. During the same period in the previous year, the firm posted $5.10 earnings per share. The firm's revenue was up 12.0% on a year-over-year basis. As a group, research analysts predict that Chord Energy Corporation will post 15.59 EPS for the current fiscal year.

Chord Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 9th. Investors of record on Wednesday, May 21st were given a dividend of $1.30 per share. The ex-dividend date was Wednesday, May 21st. This represents a $5.20 dividend on an annualized basis and a yield of 5.32%. Chord Energy's payout ratio is 34.78%.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. Morgan Stanley set a $139.00 target price on shares of Chord Energy and gave the company a "cautious" rating in a research note on Wednesday, March 26th. Mizuho decreased their target price on Chord Energy from $154.00 to $150.00 and set an "outperform" rating on the stock in a report on Tuesday, May 13th. Wall Street Zen downgraded Chord Energy from a "hold" rating to a "sell" rating in a report on Friday, May 30th. Williams Trading set a $155.00 price target on Chord Energy in a research report on Wednesday, March 5th. Finally, Royal Bank Of Canada cut their price objective on Chord Energy from $165.00 to $145.00 and set an "outperform" rating on the stock in a report on Friday, April 11th. Two analysts have rated the stock with a sell rating, one has given a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Chord Energy has a consensus rating of "Moderate Buy" and a consensus target price of $152.54.

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 stock was sold at an average price of $94.10, for a total transaction of $290,863.10. Following the transaction, the executive vice president now directly owns 21,277 shares in the company, valued at $2,002,165.70. This trade represents a 12.68% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.70% of the stock is currently owned by company insiders.

About Chord Energy

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.