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

IFM Investors Pty Ltd bought a new stake in shares of Chord Energy Corporation (NASDAQ:CHRD - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 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 business. FMR LLC raised its position in Chord Energy by 11.5% in the 4th quarter. FMR LLC now owns 3,814,384 shares of the company's stock worth $445,978,000 after purchasing an additional 394,372 shares during the period. Encompass Capital Advisors LLC purchased a new stake in Chord Energy in the 4th quarter worth about $43,745,000. Squarepoint Ops LLC raised its position 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 purchasing an additional 264,828 shares during the period. Raymond James Financial Inc. purchased a new stake in Chord Energy in the 4th quarter worth about $29,984,000. Finally, Sourcerock Group LLC raised its position 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 purchasing an additional 214,870 shares during the period. 97.76% of the stock is currently owned by hedge funds and other institutional investors.

Chord Energy Stock Performance

Shares of NASDAQ CHRD traded up $1.19 during midday trading on Thursday, reaching $108.11. The company had a trading volume of 565,493 shares, compared to its average volume of 858,416. 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 business's 50-day simple moving average is $97.62 and its 200 day simple moving average is $104.70. Chord Energy Corporation has a 1 year low of $79.83 and a 1 year high of $181.17. The stock has a market cap of $6.24 billion, a P/E ratio of 7.23 and a beta of 0.96.

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

Chord Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 9th. Investors of record on Wednesday, May 21st were issued a dividend of $1.30 per share. The ex-dividend date of this dividend was Wednesday, May 21st. This represents a $5.20 annualized dividend and a dividend yield of 4.81%. Chord Energy's dividend payout ratio (DPR) is presently 34.78%.

Insider Activity

In related 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 completion of the transaction, the executive vice president owned 21,277 shares of the company's stock, valued at $2,002,165.70. This trade represents a 12.68% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.70% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Wall Street Zen raised shares of Chord Energy from a "sell" rating to a "hold" rating in a research report on Friday, June 27th. Wells Fargo & Company reduced their target price on shares of Chord Energy from $158.00 to $142.00 and set an "overweight" rating on the stock in a research report on Monday, June 16th. Citigroup raised their target price on shares of Chord Energy from $120.00 to $125.00 and gave the stock a "buy" rating in a research report on Wednesday. Mizuho dropped their price objective on shares of Chord Energy from $154.00 to $150.00 and set an "outperform" rating on the stock in a research note on Tuesday, May 13th. Finally, Piper Sandler dropped their price objective on shares of Chord Energy from $161.00 to $159.00 and set an "overweight" rating on the stock in a research note on Tuesday, July 1st. One analyst has rated the stock with a sell rating, two have issued a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $151.08.

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.