South Dakota Investment Council Has $15.26 Million Stock Position in Chord Energy Corporation (NASDAQ:CHRD)

South Dakota Investment Council grew its position in Chord Energy Corporation (NASDAQ:CHRD - Free Report) by 17.4% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 135,369 shares of the company's stock after acquiring an additional 20,067 shares during the quarter. South Dakota Investment Council owned 0.23% of Chord Energy worth $15,259,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. FMR LLC raised its holdings in shares of 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 buying an additional 394,372 shares in the last quarter. Encompass Capital Advisors LLC acquired a new position in shares of Chord Energy in the 4th quarter worth approximately $43,745,000. Squarepoint Ops LLC raised its holdings in shares of 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 in the last quarter. Raymond James Financial Inc. acquired a new position in shares of Chord Energy in the 4th quarter worth approximately $29,984,000. Finally, Sourcerock Group LLC raised its holdings in shares of 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 in the last quarter. Institutional investors own 97.76% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. 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. Wall Street Zen cut Chord Energy from a "hold" rating to a "sell" rating in a report on Friday. Piper Sandler raised their price target on Chord Energy from $159.00 to $164.00 and gave the company an "overweight" rating in a report on Thursday, July 17th. Wells Fargo & Company raised their price target on Chord Energy from $142.00 to $143.00 and gave the company an "overweight" rating in a report on Tuesday, July 15th. Finally, Citigroup raised their price target on Chord Energy from $120.00 to $125.00 and gave the company a "buy" rating in a report on Wednesday, July 9th. Two equities research analysts have rated the stock with a sell rating, one has 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 MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $151.54.

Insider Activity at Chord Energy

In other 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 value of $290,863.10. Following the sale, 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.70% of the stock is currently owned by company insiders.

Chord Energy Trading Up 1.7%

Shares of NASDAQ:CHRD traded up $1.74 during midday trading on Tuesday, hitting $107.25. The company had a trading volume of 218,765 shares, compared to its average volume of 851,819. Chord Energy Corporation has a 12 month low of $79.83 and a 12 month high of $175.55. 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 stock has a market cap of $6.19 billion, a price-to-earnings ratio of 7.16 and a beta of 0.96. The firm has a fifty day simple moving average of $99.30 and a 200 day simple moving average of $104.18.

Chord Energy (NASDAQ:CHRD - Get Free Report) last posted its earnings results 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. The firm had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.07 billion. Chord Energy had a return on equity of 10.34% and a net margin of 16.15%. The company's revenue for the quarter was up 12.0% on a year-over-year basis. During the same period in the previous year, the company posted $5.10 earnings per share. On average, analysts predict 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. Shareholders of record on Wednesday, May 21st were issued a dividend of $1.30 per share. The ex-dividend date was Wednesday, May 21st. This represents a $5.20 annualized dividend and a yield of 4.85%. Chord Energy's dividend payout ratio is presently 34.78%.

Chord Energy 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.