Chord Energy Corporation (NASDAQ:CHRD) Shares Purchased by South Dakota Investment Council

South Dakota Investment Council increased its stake in shares of Chord Energy Corporation (NASDAQ:CHRD - Free Report) by 17.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 135,369 shares of the company's stock after buying an additional 20,067 shares during the period. South Dakota Investment Council owned 0.23% of Chord Energy worth $15,259,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in CHRD. Segall Bryant & Hamill LLC increased its stake in shares of Chord Energy by 4.5% in the 1st quarter. Segall Bryant & Hamill LLC now owns 99,955 shares of the company's stock valued at $11,267,000 after acquiring an additional 4,312 shares during the last quarter. Tectonic Advisors LLC grew its stake in shares of Chord Energy by 7.6% during the 1st quarter. Tectonic Advisors LLC now owns 9,081 shares of the company's stock worth $1,024,000 after acquiring an additional 638 shares in the last quarter. Signaturefd LLC grew its stake in shares of Chord Energy by 53.9% during the 1st quarter. Signaturefd LLC now owns 4,688 shares of the company's stock worth $528,000 after acquiring an additional 1,642 shares in the last quarter. Aurora Investment Counsel bought a new position in shares of Chord Energy during the 1st quarter worth approximately $1,940,000. Finally, CWM LLC grew its stake in shares of Chord Energy by 20.7% during the 1st quarter. CWM LLC now owns 7,752 shares of the company's stock worth $874,000 after acquiring an additional 1,331 shares in the last quarter. Institutional investors and hedge funds own 97.76% of the company's stock.

Chord Energy Stock Performance

Shares of NASDAQ CHRD traded up $0.43 during trading on Friday, reaching $106.40. 510,334 shares of the stock traded hands, compared to its average volume of 855,718. Chord Energy Corporation has a 52-week low of $79.83 and a 52-week high of $175.55. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.89 and a quick ratio of 0.83. The company has a 50-day moving average of $99.30 and a 200-day moving average of $104.28. The stock has a market capitalization of $6.15 billion, a P/E ratio of 7.12 and a beta of 0.96.

Chord Energy (NASDAQ:CHRD - Get Free Report) last posted its quarterly 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 return on equity of 10.34% and a net margin of 16.15%. The business had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.07 billion. During the same period last year, the company earned $5.10 EPS. Chord Energy's revenue for the quarter was up 12.0% compared to the same quarter last year. Analysts forecast that Chord Energy Corporation will post 15.59 EPS for the current fiscal year.

Chord Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 9th. Shareholders of record on Wednesday, May 21st were issued a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.89%. The ex-dividend date was Wednesday, May 21st. Chord Energy's payout ratio is 34.78%.

Insider Activity at Chord Energy

In other Chord Energy news, EVP Shannon Browning Kinney sold 3,091 shares of the business's stock in a transaction dated Thursday, May 8th. The stock was sold at an average price of $94.10, for a total transaction of $290,863.10. Following the completion of the sale, the executive vice president owned 21,277 shares of the company's stock, valued at approximately $2,002,165.70. The trade was a 12.68% decrease in their ownership of the stock. The transaction 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.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Morgan Stanley set a $139.00 price objective on shares of Chord Energy and gave the company a "cautious" rating in a report on Wednesday, March 26th. Wells Fargo & Company raised their price target on Chord Energy from $142.00 to $143.00 and gave the stock an "overweight" rating in a research report on Tuesday. Bank of America decreased their price target on Chord Energy from $114.00 to $112.00 and set a "buy" rating on the stock in a research report on Friday, May 23rd. Royal Bank Of Canada decreased their price target on Chord Energy from $165.00 to $145.00 and set an "outperform" rating on the stock in a research report on Friday, April 11th. Finally, Wall Street Zen cut Chord Energy from a "hold" rating to a "sell" rating in a research report on Friday. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $151.54.

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.