Ontario Teachers Pension Plan Board Increases Stake in Chord Energy Co. (NASDAQ:CHRD)

Ontario Teachers Pension Plan Board raised its position in Chord Energy Co. (NASDAQ:CHRD - Free Report) by 127.9% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 37,140 shares of the company's stock after acquiring an additional 20,846 shares during the period. Ontario Teachers Pension Plan Board owned about 0.09% of Chord Energy worth $6,174,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of CHRD. Contravisory Investment Management Inc. increased its position in shares of Chord Energy by 48.9% in the fourth quarter. Contravisory Investment Management Inc. now owns 259 shares of the company's stock valued at $43,000 after acquiring an additional 85 shares during the last quarter. SRS Capital Advisors Inc. boosted its stake in shares of Chord Energy by 306.9% during the 4th quarter. SRS Capital Advisors Inc. now owns 293 shares of the company's stock worth $49,000 after acquiring an additional 221 shares during the period. Lindbrook Capital LLC increased its holdings in shares of Chord Energy by 67.6% in the fourth quarter. Lindbrook Capital LLC now owns 305 shares of the company's stock valued at $51,000 after purchasing an additional 123 shares during the last quarter. Viking Fund Management LLC grew its stake in Chord Energy by 40.0% in the 4th quarter. Viking Fund Management LLC now owns 350 shares of the company's stock valued at $58,000 after buying an additional 100 shares during the last quarter. Finally, Quadrant Capital Group LLC boosted its holdings in shares of Chord Energy by 94.3% during the fourth quarter. Quadrant Capital Group LLC now owns 406 shares of the company's stock worth $67,000 after acquiring an additional 197 shares during the period. Institutional investors and hedge funds own 97.76% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on CHRD shares. Royal Bank of Canada lifted their target price on Chord Energy from $180.00 to $200.00 and gave the stock an "outperform" rating in a report on Monday, April 29th. Piper Sandler lifted their price target on shares of Chord Energy from $230.00 to $231.00 and gave the company an "overweight" rating in a report on Tuesday, May 14th. Truist Financial decreased their target price on shares of Chord Energy from $229.00 to $224.00 and set a "buy" rating on the stock in a research note on Friday, April 5th. Stifel Nicolaus increased their price target on Chord Energy from $178.00 to $211.00 and gave the company a "buy" rating in a research note on Tuesday, February 27th. Finally, Mizuho boosted their price objective on Chord Energy from $195.00 to $214.00 and gave the stock a "buy" rating in a research report on Monday, May 13th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have issued a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $195.50.

Chord Energy Trading Down 1.5 %

NASDAQ:CHRD traded down $2.71 during trading hours on Wednesday, hitting $177.68. 592,153 shares of the company were exchanged, compared to its average volume of 665,754. The company has a fifty day simple moving average of $179.03 and a 200 day simple moving average of $166.94. Chord Energy Co. has a one year low of $142.02 and a one year high of $190.23. The stock has a market capitalization of $7.41 billion, a price-to-earnings ratio of 8.34 and a beta of 1.07. The company has a current ratio of 1.14, a quick ratio of 1.07 and a debt-to-equity ratio of 0.08.

Chord Energy (NASDAQ:CHRD - Get Free Report) last issued its quarterly earnings data on Tuesday, May 7th. The company reported $5.10 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.75 by $0.35. The company had revenue of $1.09 billion during the quarter, compared to the consensus estimate of $771.87 million. Chord Energy had a return on equity of 16.57% and a net margin of 22.67%. The firm's revenue was up 24.8% compared to the same quarter last year. During the same period last year, the company earned $4.50 earnings per share. Sell-side analysts expect that Chord Energy Co. will post 22.53 EPS for the current fiscal year.

Chord Energy Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 5th. Stockholders of record on Wednesday, May 22nd will be paid a $2.94 dividend. This represents a $11.76 dividend on an annualized basis and a dividend yield of 6.62%. The ex-dividend date is Tuesday, May 21st. Chord Energy's dividend payout ratio is currently 23.46%.

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.