IFM Investors Pty Ltd Takes $1.21 Million Position in Chord Energy Corporation $CHRD

Key Points

• IFM Investors Pty Ltd recently invested approximately $1.21 million in Chord Energy Corporation, purchasing 10,697 shares in the first quarter.
• Chord Energy's stock has seen multiple analyst upgrades, with Citigroup and UBS increasing their target prices, while an average rating of "Moderate Buy" has been assigned by analysts.
• The company recently declared a $1.30 quarterly dividend, yielding 5.0%, though its payout ratio stands at 132.32%.

IFM Investors Pty Ltd acquired a new stake in Chord Energy Corporation (NASDAQ:CHRD - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 10,697 shares of the company's stock, valued at approximately $1,206,000.

Other large investors have also made changes to their positions in the company. AQR Capital Management LLC boosted its holdings in shares of Chord Energy by 59.8% in the 1st quarter. AQR Capital Management LLC now owns 236,436 shares of the company's stock valued at $26,651,000 after acquiring an additional 88,490 shares during the last quarter. Hsbc Holdings PLC boosted its holdings in shares of Chord Energy by 364.2% in the 1st quarter. Hsbc Holdings PLC now owns 35,795 shares of the company's stock valued at $4,055,000 after acquiring an additional 28,084 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in shares of Chord Energy by 6.4% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 791,958 shares of the company's stock valued at $89,198,000 after acquiring an additional 47,649 shares during the last quarter. Aurora Investment Counsel purchased a new stake in shares of Chord Energy in the 1st quarter valued at $1,940,000. Finally, New York State Teachers Retirement System boosted its holdings in shares of Chord Energy by 8.4% in the 1st quarter. New York State Teachers Retirement System now owns 29,190 shares of the company's stock valued at $3,290,000 after acquiring an additional 2,263 shares during the last quarter. 97.76% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CHRD has been the topic of several recent research reports. UBS Group upped their price objective on shares of Chord Energy from $122.00 to $130.00 and gave the company a "buy" rating in a report on Tuesday. Bank of America increased their price target on shares of Chord Energy from $112.00 to $123.00 and gave the stock a "buy" rating in a report on Wednesday. Citigroup increased their price target on shares of Chord Energy from $120.00 to $125.00 and gave the stock a "buy" rating in a report on Wednesday, July 9th. Mizuho lowered their price target on shares of Chord Energy from $152.00 to $142.00 and set an "outperform" rating on the stock in a report on Monday. Finally, Wells Fargo & Company increased their price target on shares of Chord Energy from $146.00 to $149.00 and gave the stock an "overweight" rating in a report on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $149.42.

Chord Energy Price Performance

NASDAQ:CHRD traded down $1.07 during trading hours on Thursday, reaching $104.28. 224,380 shares of the company were exchanged, compared to its average volume of 844,451. The company has a current ratio of 0.97, a quick ratio of 0.90 and a debt-to-equity ratio of 0.11. The stock's 50-day moving average is $105.84 and its 200-day moving average is $101.07. The firm has a market cap of $5.97 billion, a PE ratio of 26.53 and a beta of 0.97. Chord Energy Corporation has a twelve month low of $79.83 and a twelve month high of $140.15.

Chord Energy (NASDAQ:CHRD - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The company reported $1.79 earnings per share for the quarter, missing analysts' consensus estimates of $1.88 by ($0.09). The company had revenue of $1.18 billion for the quarter, compared to analyst estimates of $984.07 million. Chord Energy had a return on equity of 9.02% and a net margin of 5.02%.The business's revenue was up 5.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $4.69 earnings per share. On average, sell-side analysts anticipate that Chord Energy Corporation will post 15.59 earnings per share for the current fiscal year.

Chord Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 8th. Shareholders of record on Thursday, August 21st were given a dividend of $1.30 per share. The ex-dividend date was Thursday, August 21st. This represents a $5.20 dividend on an annualized basis and a yield of 5.0%. Chord Energy's dividend payout ratio is currently 132.32%.

Insiders Place Their Bets

In other news, EVP Shannon Browning Kinney sold 3,019 shares of the stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $105.43, for a total value of $318,293.17. Following the completion of the sale, the executive vice president directly owned 14,650 shares in the company, valued at $1,544,549.50. This represents a 17.09% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.70% of the company's stock.

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.