Ontario Teachers Pension Plan Board Sells 20,495 Shares of Chord Energy Co. (NASDAQ:CHRD)

Ontario Teachers Pension Plan Board reduced its stake in shares of Chord Energy Co. (NASDAQ:CHRD) by 75.2% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,753 shares of the company’s stock after selling 20,495 shares during the quarter. Ontario Teachers Pension Plan Board’s holdings in Chord Energy were worth $879,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Victory Capital Management Inc. raised its stake in shares of Chord Energy by 41.3% during the third quarter. Victory Capital Management Inc. now owns 2,245,435 shares of the company’s stock valued at $292,423,000 after acquiring an additional 656,374 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of Chord Energy by 72.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,771,780 shares of the company’s stock worth $297,090,000 after buying an additional 741,705 shares during the last quarter. Boston Partners increased its stake in shares of Chord Energy by 107.0% during the first quarter. Boston Partners now owns 1,305,942 shares of the company’s stock valued at $232,813,000 after buying an additional 674,965 shares during the period. American Century Companies Inc. raised its holdings in shares of Chord Energy by 13.2% during the second quarter. American Century Companies Inc. now owns 971,982 shares of the company’s stock valued at $162,982,000 after acquiring an additional 113,618 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in Chord Energy by 27.7% in the second quarter. Bank of New York Mellon Corp now owns 761,852 shares of the company’s stock valued at $127,747,000 after acquiring an additional 165,196 shares in the last quarter. 97.76% of the stock is owned by hedge funds and other institutional investors.

Chord Energy Price Performance

Shares of NASDAQ CHRD opened at $132.36 on Friday. The company has a 50 day moving average of $131.00 and a 200 day moving average of $153.33. 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 Co. has a twelve month low of $123.30 and a twelve month high of $190.23. The firm has a market cap of $8.09 billion, a P/E ratio of 6.82, a PEG ratio of 5.14 and a beta of 0.98.

Chord Energy (NASDAQ:CHRD) last announced its quarterly earnings results on Wednesday, November 6th. The company reported $3.40 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.63 by ($0.23). The business had revenue of $1.12 billion for the quarter, compared to the consensus estimate of $1.26 billion. Chord Energy had a net margin of 19.74% and a return on equity of 12.88%. The company’s revenue for the quarter was up 33.4% compared to the same quarter last year. During the same period in the previous year, the company earned $5.04 earnings per share. As a group, research analysts expect that Chord Energy Co. will post 16.5 EPS for the current fiscal year.

Chord Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Wednesday, November 27th will be given a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a yield of 3.78%. The ex-dividend date of this dividend is Wednesday, November 27th. Chord Energy’s payout ratio is 25.75%.

Wall Street Analyst Weigh In

CHRD has been the topic of a number of research reports. Jefferies Financial Group began coverage on shares of Chord Energy in a research note on Thursday, September 5th. They set a “hold” rating and a $160.00 target price on the stock. Siebert Williams Shank upgraded Chord Energy to a “strong-buy” rating in a report on Tuesday, October 15th. UBS Group began coverage on Chord Energy in a research note on Wednesday, October 16th. They issued a “buy” rating and a $168.00 target price for the company. Royal Bank of Canada reduced their price target on Chord Energy from $185.00 to $180.00 and set an “outperform” rating on the stock in a research note on Wednesday. Finally, Piper Sandler raised their price objective on Chord Energy from $211.00 to $212.00 and gave the company an “overweight” rating in a research report on Monday. Two analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Chord Energy has a consensus rating of “Moderate Buy” and an average target price of $188.45.

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.