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

JPMorgan Chase & Co. decreased its holdings in shares of Chord Energy Co. (NASDAQ:CHRD) by 47.8% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 254,833 shares of the company’s stock after selling 233,333 shares during the period. JPMorgan Chase & Co. owned approximately 0.42% of Chord Energy worth $33,187,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of CHRD. Hexagon Capital Partners LLC lifted its holdings in shares of Chord Energy by 462.9% during the third quarter. Hexagon Capital Partners LLC now owns 197 shares of the company’s stock worth $26,000 after purchasing an additional 162 shares during the period. Stone House Investment Management LLC acquired a new stake in Chord Energy in the third quarter valued at $26,000. UMB Bank n.a. boosted its position in shares of Chord Energy by 77.7% during the 3rd quarter. UMB Bank n.a. now owns 231 shares of the company’s stock worth $30,000 after purchasing an additional 101 shares in the last quarter. Ashton Thomas Private Wealth LLC acquired a new position in shares of Chord Energy during the 2nd quarter worth $40,000. Finally, Benjamin F. Edwards & Company Inc. increased its holdings in shares of Chord Energy by 125.9% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 244 shares of the company’s stock valued at $41,000 after purchasing an additional 136 shares in the last quarter. 97.76% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CHRD has been the topic of several recent analyst reports. Siebert Williams Shank upgraded shares of Chord Energy to a “strong-buy” rating in a research report on Tuesday, October 15th. Wolfe Research upgraded Chord Energy from a “peer perform” rating to an “outperform” rating and set a $155.00 price objective on the stock in a research report on Friday. Truist Financial reduced their target price on Chord Energy from $223.00 to $185.00 and set a “buy” rating on the stock in a research report on Monday, September 30th. Piper Sandler decreased their target price on shares of Chord Energy from $212.00 to $194.00 and set an “overweight” rating on the stock in a research report on Tuesday, December 17th. Finally, Royal Bank of Canada cut 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. One research analyst has rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $180.25.

Chord Energy Stock Performance

Chord Energy stock opened at $122.15 on Tuesday. The firm has a market capitalization of $7.47 billion, a PE ratio of 6.29, a price-to-earnings-growth ratio of 4.79 and a beta of 0.99. The stock’s 50 day moving average price is $122.77 and its 200 day moving average price is $140.18. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.89 and a current ratio of 0.93. Chord Energy Co. has a one year low of $109.59 and a one year high of $190.23.

Chord Energy (NASDAQ:CHRD) last issued its quarterly earnings data on Wednesday, November 6th. The company reported $3.40 EPS for the quarter, missing analysts’ consensus estimates of $3.63 by ($0.23). The firm had revenue of $1.12 billion during the quarter, compared to analyst estimates of $1.26 billion. Chord Energy had a return on equity of 12.88% and a net margin of 19.74%. The business’s quarterly revenue was up 33.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $5.04 EPS. As a group, sell-side 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 was paid on Thursday, December 12th. Stockholders of record on Wednesday, November 27th were given a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a dividend yield of 4.09%. The ex-dividend date of this dividend was Wednesday, November 27th. Chord Energy’s payout ratio is currently 25.75%.

Insider Buying and Selling

In other Chord Energy news, CAO Shannon Browning Kinney sold 1,000 shares of the stock in a transaction that occurred 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 owns 19,488 shares of the company’s stock, valued at $2,267,428.80. This trade represents a 4.88 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 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.