IFM Investors Pty Ltd Acquires Shares of 10,697 Chord Energy Corporation (NASDAQ:CHRD)

IFM Investors Pty Ltd bought a new stake in Chord Energy Corporation (NASDAQ:CHRD - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 10,697 shares of the company's stock, valued at approximately $1,206,000.

Other hedge funds have also made changes to their positions in the company. Natixis Advisors LLC purchased a new stake in Chord Energy during the 4th quarter worth $1,191,000. JPMorgan Chase & Co. increased its stake in Chord Energy by 3.3% during the 4th quarter. JPMorgan Chase & Co. now owns 263,288 shares of the company's stock worth $30,784,000 after buying an additional 8,455 shares during the period. Allspring Global Investments Holdings LLC increased its stake in Chord Energy by 6.4% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 791,958 shares of the company's stock worth $89,198,000 after buying an additional 47,649 shares during the period. New York State Teachers Retirement System increased its stake in Chord Energy by 8.4% during the 1st quarter. New York State Teachers Retirement System now owns 29,190 shares of the company's stock worth $3,290,000 after buying an additional 2,263 shares during the period. Finally, Perigon Wealth Management LLC increased its position in shares of Chord Energy by 56.9% in the 1st quarter. Perigon Wealth Management LLC now owns 35,642 shares of the company's stock worth $4,018,000 after purchasing an additional 12,925 shares during the last quarter. Hedge funds and other institutional investors own 97.76% of the company's stock.

Insider Buying and Selling

In related news, EVP Shannon Browning Kinney sold 3,091 shares of the stock in a transaction that occurred on Thursday, May 8th. The shares were sold at an average price of $94.10, for a total transaction of $290,863.10. Following the completion of the sale, the executive vice president directly owned 21,277 shares of the company's stock, valued at $2,002,165.70. This represents a 12.68% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.70% of the stock is currently owned by corporate insiders.

Chord Energy Stock Performance

Chord Energy stock traded up $1.08 during midday trading on Friday, reaching $109.19. 581,260 shares of the stock traded hands, compared to its average volume of 858,228. The company has a current ratio of 0.89, a quick ratio of 0.83 and a debt-to-equity ratio of 0.09. The firm has a fifty day moving average price of $97.94 and a two-hundred day moving average price of $104.61. The firm has a market cap of $6.31 billion, a price-to-earnings ratio of 6.99 and a beta of 0.96. Chord Energy Corporation has a fifty-two week low of $79.83 and a fifty-two week high of $181.17.

Chord Energy (NASDAQ:CHRD - Get Free Report) last posted its earnings results on Tuesday, May 6th. The company reported $4.04 earnings per share (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 during the quarter, compared to analyst estimates of $1.07 billion. During the same period in the previous year, the business posted $5.10 EPS. Chord Energy's revenue was up 12.0% on a year-over-year basis. On average, equities research analysts forecast that Chord Energy Corporation will post 15.59 earnings per share for the current year.

Chord Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 9th. Investors of record on Wednesday, May 21st were paid a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a yield of 4.76%. The ex-dividend date was Wednesday, May 21st. Chord Energy's dividend payout ratio is presently 34.78%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on CHRD. Piper Sandler dropped their target price on shares of Chord Energy from $161.00 to $159.00 and set an "overweight" rating for the company in a research report on Tuesday, July 1st. Mizuho dropped their target price 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. Bank of America dropped their target price 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. Morgan Stanley set a $139.00 target price on shares of Chord Energy and gave the stock a "cautious" rating in a research report on Wednesday, March 26th. Finally, Royal Bank Of Canada dropped their target price on shares of Chord Energy from $165.00 to $145.00 and set an "outperform" rating for the company in a research report on Friday, April 11th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $151.08.

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.