IFM Investors Pty Ltd Takes Position in Chord Energy Corporation (NASDAQ:CHRD)

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

Several other large investors also recently modified their holdings of the business. FMR LLC grew its stake in shares of Chord Energy by 11.5% during the fourth 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 in the last quarter. Boston Partners grew its stake in Chord Energy by 5.6% in the fourth quarter. Boston Partners now owns 2,186,483 shares of the company's stock worth $255,684,000 after purchasing an additional 115,215 shares in the last quarter. American Century Companies Inc. grew its stake in Chord Energy by 15.0% in the fourth quarter. American Century Companies Inc. now owns 1,116,073 shares of the company's stock worth $130,491,000 after purchasing an additional 145,627 shares in the last quarter. Adage Capital Partners GP L.L.C. lifted its holdings in Chord Energy by 19.0% in the fourth quarter. Adage Capital Partners GP L.L.C. now owns 855,381 shares of the company's stock worth $100,011,000 after acquiring an additional 136,751 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its holdings in Chord Energy by 6.4% in the first quarter. Allspring Global Investments Holdings LLC now owns 791,958 shares of the company's stock worth $89,198,000 after acquiring an additional 47,649 shares during the last quarter. 97.76% of the stock is currently owned by institutional investors and hedge funds.

Chord Energy Trading Up 4.9%

Chord Energy stock opened at $108.20 on Wednesday. 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 market cap of $6.25 billion, a price-to-earnings ratio of 7.24 and a beta of 0.96. Chord Energy Corporation has a 1 year low of $79.83 and a 1 year high of $181.17. The firm's 50 day moving average price is $96.97 and its two-hundred day moving average price is $104.70.

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 the consensus estimate 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 for the quarter, compared to analysts' expectations of $1.07 billion. During the same period in the previous year, the company posted $5.10 EPS. The company's quarterly revenue was up 12.0% compared to the same quarter last year. On average, research analysts predict that Chord Energy Corporation will post 15.59 EPS for the current fiscal year.

Chord Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 9th. Stockholders of record on Wednesday, May 21st were issued a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a dividend yield of 4.81%. The ex-dividend date was Wednesday, May 21st. Chord Energy's dividend payout ratio is currently 34.78%.

Insider Activity at Chord Energy

In other news, EVP Shannon Browning Kinney sold 3,091 shares of the business'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 transaction, the executive vice president directly owned 21,277 shares in the company, valued at $2,002,165.70. The trade was a 12.68% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.70% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages have issued reports on CHRD. Royal Bank Of Canada cut their target price on shares of Chord Energy from $165.00 to $145.00 and set an "outperform" rating on the stock in a report on Friday, April 11th. Wall Street Zen raised Chord Energy from a "sell" rating to a "hold" rating in a report on Friday, June 27th. Morgan Stanley set a $139.00 price target on Chord Energy and gave the company a "cautious" rating in a report on Wednesday, March 26th. Piper Sandler cut their price target on Chord Energy from $161.00 to $159.00 and set an "overweight" rating on the stock in a report on Tuesday, July 1st. Finally, Bank of America cut their price target on Chord Energy from $114.00 to $112.00 and set a "buy" rating on the stock in a report on Friday, May 23rd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $150.69.

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.

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