10,697 Shares in Chord Energy Corporation (NASDAQ:CHRD) Purchased by IFM Investors Pty Ltd

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

Several other hedge funds have also recently made changes to their positions in the stock. Altshuler Shaham Ltd purchased a new stake in Chord Energy during the fourth quarter valued at approximately $25,000. Twin Tree Management LP purchased a new stake in Chord Energy during the fourth quarter valued at approximately $33,000. Larson Financial Group LLC increased its holdings in Chord Energy by 238.3% during the fourth quarter. Larson Financial Group LLC now owns 318 shares of the company's stock valued at $37,000 after buying an additional 224 shares during the last quarter. Fifth Third Bancorp increased its holdings in Chord Energy by 195.8% during the first quarter. Fifth Third Bancorp now owns 698 shares of the company's stock valued at $79,000 after buying an additional 462 shares during the last quarter. Finally, Pilgrim Partners Asia Pte Ltd purchased a new stake in Chord Energy during the fourth quarter valued at approximately $80,000. 97.76% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have recently issued reports on CHRD shares. Bank of America reduced their price objective on shares of Chord Energy from $114.00 to $112.00 and set a "buy" rating for the company in a research note on Friday, May 23rd. Mizuho reduced their price objective on shares of Chord Energy from $154.00 to $150.00 and set an "outperform" rating for the company in a research note on Tuesday, May 13th. Wells Fargo & Company reduced 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. Wall Street Zen raised shares of Chord Energy from a "sell" rating to a "hold" rating in a research note on Friday, June 27th. Finally, Piper Sandler reduced their price objective on shares of Chord Energy from $161.00 to $159.00 and set an "overweight" rating for the company in a research note on Tuesday, July 1st. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $151.08.

Chord Energy Stock Performance

Shares of CHRD traded up $1.08 during trading hours on Friday, hitting $109.19. The stock had a trading volume of 581,260 shares, compared to its average volume of 858,700. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.83 and a current ratio of 0.89. The firm has a 50-day moving average price of $97.94 and a 200 day moving average price of $104.67. Chord Energy Corporation has a fifty-two week low of $79.83 and a fifty-two week high of $181.17. The firm has a market capitalization of $6.31 billion, a price-to-earnings ratio of 7.30 and a beta of 0.96.

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, topping analysts' consensus estimates of $3.60 by $0.44. The company had revenue of $1.22 billion during 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 firm's revenue for the quarter was up 12.0% on a year-over-year basis. During the same period in the prior year, the business posted $5.10 earnings per share. As a group, research analysts anticipate that Chord Energy Corporation will post 15.59 EPS for the current year.

Chord Energy Dividend Announcement

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

Insider Activity at Chord Energy

In other news, EVP Shannon Browning Kinney sold 3,091 shares of the 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 in the company, valued at $2,002,165.70. This represents a 12.68% 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. 0.70% of the stock is owned by company insiders.

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.