Chord Energy Co. (NASDAQ:CHRD) Shares Sold by JPMorgan Chase & Co.

JPMorgan Chase & Co. reduced its stake in shares of Chord Energy Co. (NASDAQ:CHRD) by 47.8% in the third quarter, Holdings Channel.com reports. The institutional investor owned 254,833 shares of the company’s stock after selling 233,333 shares during the period. JPMorgan Chase & Co.’s holdings in Chord Energy were worth $33,187,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently added to or reduced their stakes in CHRD. TD Asset Management Inc boosted its position in shares of Chord Energy by 101.4% during the second quarter. TD Asset Management Inc now owns 10,070 shares of the company’s stock worth $1,689,000 after buying an additional 5,070 shares during the period. National Bank of Canada FI boosted its position in Chord Energy by 5,164.0% during the 2nd quarter. National Bank of Canada FI now owns 7,896 shares of the company’s stock worth $1,333,000 after acquiring an additional 7,746 shares during the period. Arizona State Retirement System grew its stake in shares of Chord Energy by 50.4% in the second quarter. Arizona State Retirement System now owns 17,065 shares of the company’s stock worth $2,861,000 after purchasing an additional 5,721 shares in the last quarter. Los Angeles Capital Management LLC acquired a new position in shares of Chord Energy during the second quarter valued at $4,229,000. Finally, Ashton Thomas Private Wealth LLC bought a new stake in shares of Chord Energy during the second quarter valued at about $40,000. 97.76% of the stock is owned by institutional investors and hedge funds.

Chord Energy Trading Up 1.0 %

NASDAQ:CHRD opened at $122.15 on Tuesday. The stock has a fifty day simple moving average of $122.77 and a 200 day simple moving average of $140.18. The firm has a market capitalization of $7.47 billion, a price-to-earnings ratio of 6.29, a price-to-earnings-growth ratio of 4.79 and a beta of 0.99. Chord Energy Co. has a 1-year low of $109.59 and a 1-year high of $190.23. 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 (NASDAQ:CHRD) last announced its earnings results on Wednesday, November 6th. The company reported $3.40 EPS for the quarter, missing the consensus estimate of $3.63 by ($0.23). Chord Energy had a return on equity of 12.88% and a net margin of 19.74%. The firm had revenue of $1.12 billion during the quarter, compared to analyst estimates of $1.26 billion. During the same quarter in the previous year, the business earned $5.04 earnings per share. The business’s quarterly revenue was up 33.4% compared to the same quarter last year. Sell-side analysts forecast that Chord Energy Co. will post 16.5 earnings per share for the current year.

Chord Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Wednesday, November 27th were paid a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a yield of 4.09%. The ex-dividend date was Wednesday, November 27th. Chord Energy’s dividend payout ratio (DPR) is currently 25.75%.

Insider Activity

In related news, CAO Shannon Browning Kinney sold 1,000 shares of the company’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 transaction, the chief accounting officer now directly owns 19,488 shares of the company’s stock, valued at approximately $2,267,428.80. The trade was a 4.88 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.70% of the company’s stock.

Analyst Upgrades and Downgrades

CHRD has been the subject of several research analyst reports. Siebert Williams Shank upgraded shares of Chord Energy to a “strong-buy” rating in a research report on Tuesday, October 15th. Mizuho decreased their price objective on shares of Chord Energy from $192.00 to $178.00 and set an “outperform” rating for the company in a report on Monday, December 16th. UBS Group dropped their target price on Chord Energy from $168.00 to $161.00 and set a “buy” rating on the stock in a report on Monday, December 9th. Truist Financial cut their target price on Chord Energy from $223.00 to $185.00 and set a “buy” rating for the company in a research report on Monday, September 30th. Finally, Wells Fargo & Company boosted their price objective on Chord Energy from $175.00 to $176.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 17th. One equities research analyst has rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $180.25.

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.