Ontario Teachers Pension Plan Board Sells 20,495 Shares of Chord Energy Co. (NASDAQ:CHRD)

Ontario Teachers Pension Plan Board lowered its stake in Chord Energy Co. (NASDAQ:CHRD) by 75.2% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 6,753 shares of the company’s stock after selling 20,495 shares during the quarter. Ontario Teachers Pension Plan Board’s holdings in Chord Energy were worth $879,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Hexagon Capital Partners LLC grew its stake in shares of Chord Energy by 462.9% during the 3rd quarter. Hexagon Capital Partners LLC now owns 197 shares of the company’s stock worth $26,000 after acquiring an additional 162 shares in the last quarter. UMB Bank n.a. lifted its position in shares of Chord Energy by 77.7% in the third quarter. UMB Bank n.a. now owns 231 shares of the company’s stock valued at $30,000 after buying an additional 101 shares during the last quarter. Spartan Fund Management Inc. acquired a new position in Chord Energy in the 3rd quarter valued at about $34,000. Ashton Thomas Private Wealth LLC bought a new position in Chord Energy during the 2nd quarter worth $40,000. Finally, Benjamin F. Edwards & Company Inc. raised its position in shares of Chord Energy by 125.9% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 244 shares of the company’s stock valued at $41,000 after buying an additional 136 shares in the last quarter. Institutional investors and hedge funds own 97.76% of the company’s stock.

Chord Energy Stock Up 1.9 %

CHRD opened at $132.36 on Friday. Chord Energy Co. has a fifty-two week low of $123.30 and a fifty-two week high of $190.23. The firm has a market capitalization of $8.09 billion, a P/E ratio of 6.82, a PEG ratio of 5.14 and a beta of 0.98. The company’s 50-day moving average is $131.00 and its 200 day moving average is $153.33. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.93 and a quick ratio of 0.89.

Chord Energy (NASDAQ:CHRD) last announced its earnings results on Wednesday, November 6th. The company reported $3.40 earnings per share for the quarter, missing analysts’ consensus estimates of $3.63 by ($0.23). The business had revenue of $1.12 billion during the quarter, compared to analysts’ expectations of $1.26 billion. Chord Energy had a return on equity of 12.88% and a net margin of 19.74%. Chord Energy’s quarterly revenue was up 33.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $5.04 EPS. Research analysts expect that Chord Energy Co. will post 16.5 earnings per share for the current fiscal year.

Chord Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Wednesday, November 27th will be paid a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a dividend yield of 3.78%. The ex-dividend date is Wednesday, November 27th. Chord Energy’s payout ratio is 25.75%.

Wall Street Analysts Forecast Growth

CHRD has been the topic of several analyst reports. Jefferies Financial Group initiated coverage on shares of Chord Energy in a research report on Thursday, September 5th. They set a “hold” rating and a $160.00 price target on the stock. Piper Sandler raised their price target on shares of Chord Energy from $211.00 to $212.00 and gave the company an “overweight” rating in a research note on Monday. UBS Group started coverage on shares of Chord Energy in a research report on Wednesday, October 16th. They issued a “buy” rating and a $168.00 price target on the stock. Citigroup lowered their price objective on shares of Chord Energy from $195.00 to $180.00 and set a “buy” rating for the company in a research note on Monday, August 12th. Finally, Wells Fargo & Company dropped their price target on Chord Energy from $185.00 to $180.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 16th. Two equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $188.45.

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.