Strs Ohio Grows Stock Holdings in Chord Energy Co. (NASDAQ:CHRD)

Strs Ohio lifted its position in shares of Chord Energy Co. (NASDAQ:CHRD) by 14.0% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 6,500 shares of the company’s stock after buying an additional 800 shares during the quarter. Strs Ohio’s holdings in Chord Energy were worth $1,080,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Contravisory Investment Management Inc. increased its holdings in Chord Energy by 48.9% in the 4th 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. Viking Fund Management LLC increased its holdings 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 acquiring an additional 100 shares during the last quarter. Fifth Third Bancorp increased its holdings in Chord Energy by 15.4% in the 3rd quarter. Fifth Third Bancorp now owns 526 shares of the company’s stock valued at $85,000 after acquiring an additional 70 shares during the last quarter. Blue Trust Inc. increased its holdings in Chord Energy by 25.7% in the 4th quarter. Blue Trust Inc. now owns 1,144 shares of the company’s stock valued at $185,000 after acquiring an additional 234 shares during the last quarter. Finally, WBI Investments Inc. bought a new stake in Chord Energy in the 3rd quarter valued at $206,000. Hedge funds and other institutional investors own 97.76% of the company’s stock.

Chord Energy Stock Performance

Chord Energy stock opened at $183.12 on Wednesday. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.22 and a quick ratio of 1.16. Chord Energy Co. has a 1-year low of $133.34 and a 1-year high of $190.23. The firm has a market capitalization of $7.61 billion, a P/E ratio of 7.78 and a beta of 1.06. The company’s 50-day moving average is $171.02 and its 200 day moving average is $164.85.

Chord Energy (NASDAQ:CHRD) last posted its quarterly earnings data on Wednesday, February 21st. The company reported $5.25 earnings per share for the quarter, topping analysts’ consensus estimates of $5.04 by $0.21. Chord Energy had a net margin of 26.27% and a return on equity of 16.35%. The company had revenue of $964.69 million for the quarter, compared to analyst estimates of $891.67 million. Research analysts forecast that Chord Energy Co. will post 21.6 EPS for the current year.

Chord Energy Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 19th. Shareholders of record on Tuesday, March 5th were paid a $3.25 dividend. This is an increase from Chord Energy’s previous quarterly dividend of $1.25. This represents a $13.00 dividend on an annualized basis and a yield of 7.10%. The ex-dividend date of this dividend was Monday, March 4th. Chord Energy’s dividend payout ratio is currently 21.25%.

Insiders Place Their Bets

In other Chord Energy news, CFO Michael H. Lou sold 3,000 shares of the company’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $154.15, for a total value of $462,450.00. Following the transaction, the chief financial officer now directly owns 131,209 shares in the company, valued at approximately $20,225,867.35. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.70% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on CHRD shares. Mizuho lifted their price target on shares of Chord Energy from $189.00 to $195.00 and gave the company a “buy” rating in a report on Thursday, March 14th. Piper Sandler boosted their target price on shares of Chord Energy from $219.00 to $230.00 and gave the stock an “overweight” rating in a report on Friday, April 19th. Truist Financial reduced their target price on shares of Chord Energy from $229.00 to $224.00 and set a “buy” rating on the stock in a report on Friday, April 5th. Bank of America downgraded shares of Chord Energy from a “buy” rating to an “underperform” rating and reduced their target price for the stock from $177.00 to $165.00 in a report on Friday, January 5th. Finally, Stifel Nicolaus boosted their target price on shares of Chord Energy from $178.00 to $211.00 and gave the stock a “buy” rating in a report on Tuesday, February 27th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, Chord Energy currently has an average rating of “Moderate Buy” and a consensus price target of $191.50.

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.