IFM Investors Pty Ltd Makes New Investment in Chord Energy Corporation (NASDAQ:CHRD)

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

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Natixis Advisors LLC acquired a new position in shares of Chord Energy during the 4th quarter worth about $1,191,000. JPMorgan Chase & Co. increased its stake in shares of 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 purchasing an additional 8,455 shares during the last quarter. Allspring Global Investments Holdings LLC increased its stake in shares of 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 purchasing an additional 47,649 shares during the last quarter. Perigon Wealth Management LLC increased its stake in shares of Chord Energy by 56.9% during 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. Finally, SG Americas Securities LLC increased its stake in shares of Chord Energy by 309.8% during the 1st quarter. SG Americas Securities LLC now owns 11,092 shares of the company's stock worth $1,250,000 after purchasing an additional 8,385 shares during the last quarter. 97.76% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on CHRD. Bank of America cut their price objective on shares of Chord Energy from $114.00 to $112.00 and set a "buy" rating for the company in a report on Friday, May 23rd. 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. Morgan Stanley set a $139.00 price target on shares of Chord Energy and gave the company a "cautious" rating in a research note on Wednesday, March 26th. Piper Sandler cut their price target on shares of Chord Energy from $161.00 to $159.00 and set an "overweight" rating on the stock in a report on Tuesday, July 1st. Finally, Wall Street Zen raised shares of Chord Energy from a "sell" rating to a "hold" rating in a research note on Friday, June 27th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, Chord Energy presently has an average rating of "Moderate Buy" and an average price target of $151.08.

Chord Energy Stock Down 1.2%

Shares of CHRD traded down $1.28 on Wednesday, reaching $106.92. The company's stock had a trading volume of 631,144 shares, compared to its average volume of 857,154. Chord Energy Corporation has a twelve month low of $79.83 and a twelve month high of $181.17. 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 of $96.97 and a 200-day moving average of $104.70. The stock has a market capitalization of $6.18 billion, a PE ratio of 7.15 and a beta of 0.96.

Chord Energy (NASDAQ:CHRD - Get Free Report) last issued its quarterly earnings data on Tuesday, May 6th. The company reported $4.04 earnings per share (EPS) for the quarter, topping 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 business had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.07 billion. During the same period in the prior year, the firm posted $5.10 EPS. The firm's quarterly revenue was up 12.0% compared to the same quarter last year. Equities analysts predict that Chord Energy Corporation will post 15.59 EPS for the current year.

Chord Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 9th. Shareholders of record on Wednesday, May 21st were given a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a yield of 4.86%. The ex-dividend date of this dividend was Wednesday, May 21st. Chord Energy's payout ratio is 34.78%.

Insider Transactions at Chord Energy

In other Chord Energy news, EVP Shannon Browning Kinney sold 3,091 shares of the company'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 directly owned 21,277 shares of the company's stock, valued at approximately $2,002,165.70. This represents a 12.68% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 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.