Commonwealth of Pennsylvania Public School Empls Retrmt SYS Reduces Position in Chord Energy Co. (NASDAQ:CHRD)

Commonwealth of Pennsylvania Public School Empls Retrmt SYS trimmed its stake in Chord Energy Co. (NASDAQ:CHRD) by 1.0% in the 4th quarter, HoldingsChannel reports. The firm owned 13,501 shares of the company’s stock after selling 139 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Chord Energy were worth $1,579,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. Commerce Bank raised its stake in shares of Chord Energy by 4.3% in the third quarter. Commerce Bank now owns 2,361 shares of the company’s stock worth $307,000 after buying an additional 98 shares during the period. Kingsview Wealth Management LLC increased its holdings in Chord Energy by 193.5% in the 3rd quarter. Kingsview Wealth Management LLC now owns 14,001 shares of the company’s stock worth $1,823,000 after acquiring an additional 9,231 shares in the last quarter. Daiwa Securities Group Inc. raised its stake in Chord Energy by 4.5% during the 3rd quarter. Daiwa Securities Group Inc. now owns 4,600 shares of the company’s stock worth $599,000 after acquiring an additional 200 shares during the period. Qsemble Capital Management LP purchased a new position in Chord Energy during the third quarter valued at approximately $782,000. Finally, FMR LLC boosted its position in shares of Chord Energy by 2.2% in the third quarter. FMR LLC now owns 3,420,012 shares of the company’s stock worth $445,388,000 after purchasing an additional 74,165 shares during the period. 97.76% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have recently commented on CHRD. Wolfe Research upgraded shares of Chord Energy from a “peer perform” rating to an “outperform” rating and set a $155.00 price objective on the stock in a research report on Friday, January 3rd. Morgan Stanley began coverage on Chord Energy in a report on Friday, January 10th. They set an “equal weight” rating and a $158.00 price target on the stock. Bank of America reaffirmed a “neutral” rating and issued a $138.00 price objective (down previously from $208.00) on shares of Chord Energy in a research note on Monday, January 13th. Williams Trading set a $155.00 target price on Chord Energy in a research note on Wednesday, March 5th. Finally, Piper Sandler dropped their price target on Chord Energy from $193.00 to $184.00 and set an “overweight” rating for the company in a research note on Thursday, March 6th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $163.92.

Chord Energy Trading Down 0.2 %

CHRD opened at $112.60 on Wednesday. The stock has a 50-day moving average of $112.66 and a 200 day moving average of $121.74. The company has a current ratio of 0.93, a quick ratio of 0.89 and a debt-to-equity ratio of 0.10. Chord Energy Co. has a 12 month low of $99.40 and a 12 month high of $190.23. The firm has a market cap of $6.71 billion, a P/E ratio of 5.80, a P/E/G ratio of 5.83 and a beta of 0.98.

Chord Energy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 26th. Stockholders of record on Tuesday, March 11th will be issued a $1.30 dividend. This is a boost from Chord Energy’s previous quarterly dividend of $1.25. The ex-dividend date of this dividend is Tuesday, March 11th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.62%. Chord Energy’s payout ratio is 32.62%.

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.