Louisiana State Employees Retirement System Lowers Holdings in Chord Energy Co. (NASDAQ:CHRD)

Louisiana State Employees Retirement System reduced its stake in shares of Chord Energy Co. (NASDAQ:CHRDFree Report) by 0.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 17,000 shares of the company’s stock after selling 100 shares during the quarter. Louisiana State Employees Retirement System’s holdings in Chord Energy were worth $1,988,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Stone House Investment Management LLC purchased a new position in shares of Chord Energy during the 3rd quarter valued at approximately $26,000. Brooklyn Investment Group purchased a new position in Chord Energy in the fourth quarter valued at $29,000. Spartan Fund Management Inc. acquired a new position in shares of Chord Energy in the third quarter worth about $34,000. Fortitude Family Office LLC purchased a new stake in shares of Chord Energy during the 3rd quarter worth about $47,000. Finally, R Squared Ltd acquired a new stake in shares of Chord Energy during the 4th quarter valued at about $51,000. 97.76% of the stock is owned by institutional investors and hedge funds.

Chord Energy Stock Up 0.7 %

Shares of NASDAQ:CHRD opened at $110.93 on Friday. Chord Energy Co. has a 52-week low of $107.24 and a 52-week high of $190.23. The stock has a market cap of $6.78 billion, a P/E ratio of 5.71, a PEG ratio of 5.46 and a beta of 0.98. The business has a fifty day moving average of $117.12 and a two-hundred day moving average of $129.92. The company has a quick ratio of 0.89, a current ratio of 0.93 and a debt-to-equity ratio of 0.10.

Chord Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Wednesday, November 27th were given a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a yield of 4.51%. The ex-dividend date was Wednesday, November 27th. Chord Energy’s payout ratio is currently 25.75%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on CHRD. Piper Sandler lowered their price target on Chord Energy from $194.00 to $193.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 15th. Royal Bank of Canada dropped their price target on shares of Chord Energy from $185.00 to $180.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 20th. Morgan Stanley started coverage on shares of Chord Energy in a research report on Friday, January 10th. They set an “equal weight” rating and a $158.00 price objective for the company. Wells Fargo & Company dropped their target price on shares of Chord Energy from $176.00 to $175.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 15th. Finally, Bank of America restated a “neutral” rating and set a $138.00 price target (down previously from $208.00) on shares of Chord Energy in a research report on Monday, January 13th. Three research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Chord Energy has a consensus rating of “Moderate Buy” and an average price target of $173.08.

Read Our Latest Analysis on Chord Energy

Insiders Place Their Bets

In other Chord Energy news, CAO Shannon Browning Kinney sold 1,000 shares of the firm’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $116.35, for a total transaction of $116,350.00. Following the completion of the sale, the chief accounting officer now 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.70% of the stock is owned by insiders.

About Chord Energy

(Free Report)

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.

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Institutional Ownership by Quarter for Chord Energy (NASDAQ:CHRD)

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