Chord Energy Co. (NASDAQ:CHRD) Shares Sold by Vestcor Inc

Vestcor Inc trimmed its holdings in shares of Chord Energy Co. (NASDAQ:CHRD - Free Report) by 17.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 41,215 shares of the company's stock after selling 8,580 shares during the quarter. Vestcor Inc owned 0.07% of Chord Energy worth $5,367,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in CHRD. Cetera Investment Advisers raised its position in shares of Chord Energy by 319.1% during the 1st quarter. Cetera Investment Advisers now owns 9,479 shares of the company's stock valued at $1,689,000 after buying an additional 7,217 shares in the last quarter. Cetera Advisors LLC bought a new position in Chord Energy in the 1st quarter worth about $444,000. SG Americas Securities LLC grew its stake in Chord Energy by 172.1% in the 2nd quarter. SG Americas Securities LLC now owns 12,755 shares of the company's stock worth $2,139,000 after acquiring an additional 8,068 shares in the last quarter. Securian Asset Management Inc. grew its stake in Chord Energy by 45.1% in the 2nd quarter. Securian Asset Management Inc. now owns 4,959 shares of the company's stock worth $832,000 after acquiring an additional 1,542 shares in the last quarter. Finally, Envestnet Portfolio Solutions Inc. lifted its position in shares of Chord Energy by 11.5% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 3,899 shares of the company's stock worth $654,000 after purchasing an additional 403 shares during the period. 97.76% of the stock is currently owned by hedge funds and other institutional investors.

Chord Energy Stock Performance

Shares of Chord Energy stock traded down $1.41 during trading on Tuesday, hitting $117.92. 702,484 shares of the company's stock were exchanged, compared to its average volume of 892,972. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.89 and a current ratio of 0.93. The business has a 50-day simple moving average of $128.75 and a 200-day simple moving average of $147.78. Chord Energy Co. has a 52-week low of $115.96 and a 52-week high of $190.23. The stock has a market capitalization of $7.21 billion, a price-to-earnings ratio of 6.07, a PEG ratio of 4.70 and a beta of 0.96.

Chord Energy (NASDAQ:CHRD - Get Free Report) last released its quarterly earnings data 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). Chord Energy had a net margin of 19.74% and a return on equity of 12.88%. The firm had revenue of $1.12 billion during the quarter, compared to analysts' expectations of $1.26 billion. During the same period in the previous year, the firm posted $5.04 EPS. The firm's quarterly revenue was up 33.4% on a year-over-year basis. On average, research analysts forecast that Chord Energy Co. will post 16.5 EPS for the current year.

Chord Energy Announces Dividend

The business 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. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 4.24%. Chord Energy's dividend payout ratio is currently 25.75%.

Wall Street Analysts Forecast Growth

CHRD has been the subject of several research reports. Piper Sandler upped their price target on shares of Chord Energy from $211.00 to $212.00 and gave the stock an "overweight" rating in a research report on Monday, November 18th. 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 target price for the company. Siebert Williams Shank raised shares of Chord Energy to a "strong-buy" rating in a research report on Tuesday, October 15th. Wells Fargo & Company decreased their target price on shares of Chord Energy from $185.00 to $180.00 and set an "overweight" rating for the company in a research report on Wednesday, October 16th. Finally, Truist Financial decreased their target price on shares of Chord Energy from $223.00 to $185.00 and set a "buy" rating for the company in a research report on Monday, September 30th. Two investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $187.82.

Insider Transactions at Chord Energy

In related news, CAO Shannon Browning Kinney sold 1,000 shares of the business's stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $121.27, for a total transaction of $121,270.00. Following the transaction, the chief accounting officer now directly owns 20,488 shares in the company, valued at approximately $2,484,579.76. The trade was a 4.65 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.70% of the company's stock.

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.