Public Employees Retirement System of Ohio Makes New $1.99 Million Investment in Chord Energy Corporation $CHRD

Public Employees Retirement System of Ohio acquired a new stake in shares of Chord Energy Corporation (NASDAQ:CHRD) during the 2nd quarter, according to its most recent disclosure with the SEC. The fund acquired 17,423 shares of the company’s stock, valued at approximately $1,991,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Bessemer Group Inc. boosted its position in shares of Chord Energy by 63.8% during the first quarter. Bessemer Group Inc. now owns 190 shares of the company’s stock valued at $27,000 after purchasing an additional 74 shares in the last quarter. Versant Capital Management Inc raised its holdings in Chord Energy by 330.9% in the second quarter. Versant Capital Management Inc now owns 237 shares of the company’s stock worth $27,000 after purchasing an additional 182 shares in the last quarter. V Square Quantitative Management LLC purchased a new position in Chord Energy during the first quarter valued at $29,000. WealthCollab LLC lifted its position in Chord Energy by 90.6% during the second quarter. WealthCollab LLC now owns 305 shares of the company’s stock valued at $30,000 after buying an additional 145 shares during the period. Finally, Root Financial Partners LLC boosted its holdings in shares of Chord Energy by 178.6% during the 1st quarter. Root Financial Partners LLC now owns 234 shares of the company’s stock valued at $33,000 after buying an additional 150 shares in the last quarter. Hedge funds and other institutional investors own 97.76% of the company’s stock.

Chord Energy Stock Performance

Shares of NASDAQ CHRD opened at $146.39 on Monday. The firm’s 50 day moving average price is $133.51 and its 200-day moving average price is $131.91. The company has a market cap of $8.01 billion, a PE ratio of 9.81 and a beta of 0.50. Chord Energy Corporation has a 52-week low of $84.25 and a 52-week high of $153.00. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.15 and a current ratio of 1.22.

Chord Energy (NASDAQ:CHRD) last posted its quarterly earnings results on Wednesday, August 5th. The company reported $6.44 EPS for the quarter, missing analysts’ consensus estimates of $6.55 by ($0.11). The firm had revenue of $2.17 billion for the quarter, compared to analysts’ expectations of $1.62 billion. Chord Energy had a net margin of 13.42% and a return on equity of 10.18%. The company’s quarterly revenue was up 128.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.79 EPS. On average, equities research analysts expect that Chord Energy Corporation will post 19.33 EPS for the current fiscal year.

Chord Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 4th. Shareholders of record on Thursday, August 20th were paid a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a yield of 3.6%. The ex-dividend date was Thursday, August 20th. Chord Energy’s dividend payout ratio (DPR) is currently 34.85%.

Analysts Set New Price Targets

Several research analysts recently issued reports on CHRD shares. Truist Financial decreased their price target on shares of Chord Energy from $170.00 to $166.00 and set a “buy” rating for the company in a research note on Monday, August 10th. Morgan Stanley cut their price objective on shares of Chord Energy from $175.00 to $169.00 and set an “overweight” rating on the stock in a report on Monday, June 29th. Wall Street Zen downgraded shares of Chord Energy from a “strong-buy” rating to a “buy” rating in a research note on Saturday, June 27th. BMO Capital Markets reiterated an “outperform” rating on shares of Chord Energy in a report on Monday, June 29th. Finally, Citigroup dropped their price target on Chord Energy from $155.00 to $130.00 and set a “neutral” rating on the stock in a research report on Friday, July 10th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Chord Energy has a consensus rating of “Moderate Buy” and a consensus price target of $153.46.

Insider Buying and Selling at Chord Energy

In related news, EVP Shannon Kinney sold 4,019 shares of the stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $140.00, for a total transaction of $562,660.00. Following the sale, the executive vice president directly owned 13,560 shares of the company’s stock, valued at $1,898,400. This trade represents a 22.86% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Douglas E. Brooks sold 8,000 shares of Chord Energy stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $133.14, for a total value of $1,065,120.00. Following the completion of the sale, the director owned 10,705 shares of the company’s stock, valued at $1,425,263.70. The trade was a 42.77% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 23,969 shares of company stock worth $3,389,599. Insiders own 0.79% of the company’s stock.

About Chord Energy

Chord Energy Corporation (NASDAQ: CHRD), formerly known as Oasis Petroleum Inc, is an independent exploration and production company focused on the acquisition, development and production of crude oil, natural gas and natural gas liquids. Headquartered in Houston, Texas, Chord Energy emerged from financial restructuring in early 2021 and rebranded in October 2022 to reflect its renewed strategic vision.

The company’s core operations are concentrated in two prolific U.S. resource plays: the Williston Basin across North Dakota and Montana, and the Delaware Basin spanning parts of West Texas and southeastern New Mexico.