California Public Employees Retirement System Has $12.56 Million Holdings in Chord Energy Co. (NASDAQ:CHRD)

California Public Employees Retirement System lifted its position in shares of Chord Energy Co. (NASDAQ:CHRD) by 2.1% during the 4th quarter, HoldingsChannel.com reports. The firm owned 107,404 shares of the company’s stock after buying an additional 2,172 shares during the quarter. California Public Employees Retirement System’s holdings in Chord Energy were worth $12,558,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in CHRD. Townsquare Capital LLC lifted its stake in shares of Chord Energy by 55.7% in the third quarter. Townsquare Capital LLC now owns 2,199 shares of the company’s stock worth $286,000 after acquiring an additional 787 shares during the period. Benjamin Edwards Inc. increased its stake in Chord Energy by 61.3% during the 3rd quarter. Benjamin Edwards Inc. now owns 3,117 shares of the company’s stock valued at $407,000 after purchasing an additional 1,184 shares in the last quarter. HighTower Advisors LLC boosted its stake in Chord Energy by 58.7% during the 3rd quarter. HighTower Advisors LLC now owns 6,821 shares of the company’s stock valued at $899,000 after purchasing an additional 2,522 shares during the last quarter. Investment Management Corp of Ontario grew its holdings in Chord Energy by 42.9% during the third quarter. Investment Management Corp of Ontario now owns 2,000 shares of the company’s stock worth $260,000 after buying an additional 600 shares in the last quarter. Finally, Quarry LP raised its holdings in shares of Chord Energy by 437.5% in the third quarter. Quarry LP now owns 946 shares of the company’s stock valued at $123,000 after purchasing an additional 770 shares during the last quarter. 97.76% of the stock is owned by institutional investors.

Chord Energy Stock Down 11.7 %

CHRD stock opened at $87.82 on Friday. The company has a market capitalization of $5.22 billion, a price-to-earnings ratio of 4.52, a price-to-earnings-growth ratio of 5.83 and a beta of 0.96. 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’s 50 day moving average price is $109.83 and its two-hundred day moving average price is $120.34. Chord Energy Co. has a fifty-two week low of $86.70 and a fifty-two week high of $190.23.

Chord Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 26th. Shareholders of record on Tuesday, March 11th were issued a $1.30 dividend. This is an increase from Chord Energy’s previous quarterly dividend of $1.25. The ex-dividend date was Tuesday, March 11th. This represents a $5.20 dividend on an annualized basis and a yield of 5.92%. Chord Energy’s dividend payout ratio is 32.62%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. Williams Trading set a $155.00 target price on Chord Energy in a research report on Wednesday, March 5th. Bank of America dropped their target price on Chord Energy from $138.00 to $125.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 1st. Mizuho reduced their price target on shares of Chord Energy from $192.00 to $178.00 and set an “outperform” rating for the company in a research report on Monday, December 16th. Wells Fargo & Company cut their price objective on Chord Energy from $175.00 to $166.00 and set an “overweight” rating for the company in a report on Monday, March 24th. Finally, Truist Financial lifted their price target on Chord Energy from $185.00 to $186.00 and gave the stock a “buy” rating in a research note on Monday, January 13th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $161.46.

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.