Oregon Public Employees Retirement Fund Reduces Stock Position in Chord Energy Co. (NASDAQ:CHRD)

Oregon Public Employees Retirement Fund reduced its holdings in Chord Energy Co. (NASDAQ:CHRD) by 0.8% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 12,467 shares of the company’s stock after selling 100 shares during the period. Oregon Public Employees Retirement Fund’s holdings in Chord Energy were worth $1,458,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Stone House Investment Management LLC purchased a new position in shares of Chord Energy in the 3rd quarter worth $26,000. Brooklyn Investment Group purchased a new position in shares of Chord Energy in the 4th quarter worth $29,000. R Squared Ltd purchased a new position in shares of Chord Energy in the 4th quarter worth $51,000. Venturi Wealth Management LLC grew its stake in shares of Chord Energy by 1,751.9% in the 4th quarter. Venturi Wealth Management LLC now owns 500 shares of the company’s stock worth $58,000 after buying an additional 473 shares in the last quarter. Finally, Union Bancaire Privee UBP SA purchased a new position in shares of Chord Energy in the 4th quarter worth $77,000. 97.76% of the stock is owned by hedge funds and other institutional investors.

Chord Energy Trading Up 0.5 %

Shares of CHRD opened at $114.30 on Friday. Chord Energy Co. has a 1-year low of $107.24 and a 1-year high of $190.23. The company has a 50-day moving average of $116.36 and a 200 day moving average of $127.06. The firm has a market capitalization of $6.99 billion, a price-to-earnings ratio of 5.89, a PEG ratio of 5.83 and a beta of 0.98. 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 Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 26th. Investors of record on Tuesday, March 11th will be issued a dividend of $1.30 per share. This is a positive change 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 yield of 4.55%. Chord Energy’s dividend payout ratio (DPR) is presently 31.37%.

Analyst Ratings Changes

A number of equities analysts have commented on CHRD shares. Mizuho dropped their price objective on shares of Chord Energy from $192.00 to $178.00 and set an “outperform” rating for the company in a research note on Monday, December 16th. Morgan Stanley started coverage on shares of Chord Energy in a research note on Friday, January 10th. They set an “equal weight” rating and a $158.00 price target for the company. Piper Sandler dropped their price target on shares of Chord Energy from $194.00 to $193.00 and set an “overweight” rating for the company in a research note on Wednesday, January 15th. Wolfe Research raised shares of Chord Energy from a “peer perform” rating to an “outperform” rating and set a $155.00 price target for the company in a research note on Friday, January 3rd. Finally, UBS Group dropped their price target on shares of Chord Energy from $168.00 to $161.00 and set a “buy” rating for the company in a research note on Monday, December 9th. Three research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $169.92.

Insider Activity at Chord Energy

In related news, CAO Shannon Browning Kinney sold 1,000 shares of Chord Energy stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $116.35, for a total transaction of $116,350.00. Following the transaction, the chief accounting officer now directly owns 19,488 shares of the company’s stock, valued at $2,267,428.80. This trade represents a 4.88 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 0.70% of the stock is currently owned by company insiders.

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.