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

IFM Investors Pty Ltd acquired a new position in Chord Energy Corporation (NASDAQ:CHRD - Free Report) in the first 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.

A number of other institutional investors have also added to or reduced their stakes in the company. FMR LLC grew its position in shares of Chord Energy by 11.5% during the 4th quarter. FMR LLC now owns 3,814,384 shares of the company's stock valued at $445,978,000 after acquiring an additional 394,372 shares during the period. Encompass Capital Advisors LLC bought a new position in Chord Energy in the 4th quarter worth approximately $43,745,000. Squarepoint Ops LLC boosted its holdings in Chord Energy by 365.5% in the 4th quarter. Squarepoint Ops LLC now owns 337,284 shares of the company's stock worth $39,435,000 after buying an additional 264,828 shares during the period. Raymond James Financial Inc. bought a new position in Chord Energy in the 4th quarter worth approximately $29,984,000. Finally, Sourcerock Group LLC boosted its holdings in Chord Energy by 214.9% in the 4th quarter. Sourcerock Group LLC now owns 314,870 shares of the company's stock worth $36,815,000 after buying an additional 214,870 shares during the period. 97.76% of the stock is owned by institutional investors.

Chord Energy Price Performance

Shares of Chord Energy stock traded up $0.35 on Thursday, hitting $107.27. 146,155 shares of the company traded hands, compared to its average volume of 854,923. The firm's 50-day simple moving average is $97.30 and its 200 day simple moving average is $104.72. 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 company has a market cap of $6.20 billion, a P/E ratio of 7.18 and a beta of 0.96. Chord Energy Corporation has a 12-month low of $79.83 and a 12-month high of $181.17.

Chord Energy (NASDAQ:CHRD - Get Free Report) last posted its quarterly earnings data on Tuesday, May 6th. The company reported $4.04 earnings per share for the quarter, beating the consensus estimate of $3.60 by $0.44. The firm had revenue of $1.22 billion for the quarter, compared to analysts' expectations of $1.07 billion. Chord Energy had a net margin of 16.15% and a return on equity of 10.34%. The business's quarterly revenue was up 12.0% on a year-over-year basis. During the same quarter last year, the company posted $5.10 EPS. Analysts expect 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, June 9th. Stockholders of record on Wednesday, May 21st were given a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a dividend yield of 4.85%. The ex-dividend date of this dividend was Wednesday, May 21st. Chord Energy's dividend payout ratio (DPR) is currently 34.78%.

Insider Buying and Selling at Chord Energy

In other news, EVP Shannon Browning Kinney sold 3,091 shares of the firm's stock in a transaction 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 sale, the executive vice president owned 21,277 shares in the company, valued at approximately $2,002,165.70. This trade represents a 12.68% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 0.70% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. Mizuho cut their price objective on shares of Chord Energy from $154.00 to $150.00 and set an "outperform" rating for the company in a report on Tuesday, May 13th. Piper Sandler cut their price objective on shares of Chord Energy from $161.00 to $159.00 and set an "overweight" rating for the company in a report on Tuesday, July 1st. 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. Wall Street Zen raised shares of Chord Energy from a "sell" rating to a "hold" rating in a report on Friday, June 27th. Finally, Royal Bank Of Canada cut their price objective on shares of Chord Energy from $165.00 to $145.00 and set an "outperform" rating for the company in a report on Friday, April 11th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target 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.