Amalgamated Bank Boosts Stock Holdings in Chord Energy Co. (NASDAQ:CHRD)

Amalgamated Bank grew its stake in shares of Chord Energy Co. (NASDAQ:CHRD) by 79.6% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 38,902 shares of the company’s stock after buying an additional 17,241 shares during the period. Amalgamated Bank owned 0.09% of Chord Energy worth $6,523,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Rise Advisors LLC acquired a new position in Chord Energy in the first quarter valued at $31,000. Ashton Thomas Private Wealth LLC acquired a new position in shares of Chord Energy in the 2nd quarter valued at about $40,000. GAMMA Investing LLC lifted its stake in shares of Chord Energy by 151.6% in the 2nd quarter. GAMMA Investing LLC now owns 317 shares of the company’s stock valued at $53,000 after purchasing an additional 191 shares in the last quarter. Atlas Capital Advisors LLC purchased a new stake in shares of Chord Energy during the 2nd quarter worth about $60,000. Finally, Quadrant Capital Group LLC increased its position in Chord Energy by 94.3% during the 4th quarter. Quadrant Capital Group LLC now owns 406 shares of the company’s stock worth $67,000 after purchasing an additional 197 shares in the last quarter. 97.76% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Chord Energy news, Director Samantha Holroyd acquired 500 shares of the stock in a transaction that occurred on Friday, August 23rd. The stock was acquired at an average price of $149.51 per share, with a total value of $74,755.00. Following the transaction, the director now directly owns 14,417 shares in the company, valued at $2,155,485.67. The acquisition was disclosed in a document filed with the SEC, which is available through this link. 0.70% of the stock is owned by corporate insiders.

Chord Energy Stock Performance

Shares of CHRD stock opened at $136.34 on Friday. The stock has a market capitalization of $5.68 billion, a price-to-earnings ratio of 6.40, a PEG ratio of 4.48 and a beta of 0.99. Chord Energy Co. has a one year low of $129.75 and a one year high of $190.23. The company’s 50-day simple moving average is $153.51 and its 200-day simple moving average is $167.31. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.91 and a current ratio of 0.96.

Chord Energy (NASDAQ:CHRD) last issued its earnings results on Wednesday, August 7th. The company reported $4.69 EPS for the quarter, missing the consensus estimate of $5.00 by ($0.31). The firm had revenue of $902.70 million during the quarter, compared to analyst estimates of $982.43 million. Chord Energy had a return on equity of 15.06% and a net margin of 20.83%. Chord Energy’s revenue was up 29.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.65 EPS. Equities analysts anticipate that Chord Energy Co. will post 19.67 earnings per share for the current fiscal year.

Chord Energy Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 5th. Shareholders of record on Wednesday, August 21st were paid a dividend of $1.25 per share. The ex-dividend date of this dividend was Wednesday, August 21st. This represents a $5.00 annualized dividend and a yield of 3.67%. Chord Energy’s payout ratio is 23.46%.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on CHRD shares. BMO Capital Markets initiated coverage on shares of Chord Energy in a research note on Monday, June 3rd. They set an “outperform” rating and a $230.00 price objective for the company. Royal Bank of Canada restated an “outperform” rating and set a $200.00 target price on shares of Chord Energy in a report on Thursday, September 5th. Bank of America increased their price target on Chord Energy from $201.00 to $208.00 and gave the company a “buy” rating in a report on Wednesday, August 21st. Wolfe Research initiated coverage on Chord Energy in a research note on Thursday, July 18th. They set a “peer perform” rating on the stock. Finally, Jefferies Financial Group began coverage on Chord Energy in a research note on Thursday, September 5th. They issued a “hold” rating and a $160.00 target price for the company. Two analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $202.10.

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.