Chord Energy Co. (NASDAQ:CHRD) Stock Holdings Lessened by Amalgamated Bank

Amalgamated Bank lessened its holdings in shares of Chord Energy Co. (NASDAQ:CHRD) by 2.7% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 23,638 shares of the company’s stock after selling 658 shares during the period. Amalgamated Bank owned 0.06% of Chord Energy worth $3,929,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Contravisory Investment Management Inc. grew its holdings in shares of Chord Energy by 48.9% during the fourth quarter. Contravisory Investment Management Inc. now owns 259 shares of the company’s stock valued at $43,000 after purchasing an additional 85 shares during the last quarter. SRS Capital Advisors Inc. increased its position in Chord Energy by 306.9% in the fourth quarter. SRS Capital Advisors Inc. now owns 293 shares of the company’s stock worth $49,000 after buying an additional 221 shares during the period. Lindbrook Capital LLC lifted its stake in Chord Energy by 67.6% in the fourth quarter. Lindbrook Capital LLC now owns 305 shares of the company’s stock valued at $51,000 after buying an additional 123 shares during the last quarter. Viking Fund Management LLC boosted its holdings in shares of Chord Energy by 40.0% during the fourth quarter. Viking Fund Management LLC now owns 350 shares of the company’s stock valued at $58,000 after acquiring an additional 100 shares during the period. Finally, Fifth Third Bancorp grew its position in shares of Chord Energy by 15.4% during the third quarter. Fifth Third Bancorp now owns 526 shares of the company’s stock worth $85,000 after acquiring an additional 70 shares during the last quarter. Institutional investors and hedge funds own 97.76% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on CHRD. Stifel Nicolaus boosted their target price on shares of Chord Energy from $178.00 to $211.00 and gave the company a “buy” rating in a research note on Tuesday, February 27th. Truist Financial decreased their price objective on Chord Energy from $229.00 to $224.00 and set a “buy” rating for the company in a report on Friday, April 5th. Piper Sandler lifted their target price on Chord Energy from $219.00 to $230.00 and gave the company an “overweight” rating in a research note on Friday, April 19th. Royal Bank of Canada increased their price target on Chord Energy from $180.00 to $200.00 and gave the stock an “outperform” rating in a research note on Monday, April 29th. Finally, Mizuho lifted their price objective on shares of Chord Energy from $189.00 to $195.00 and gave the company a “buy” rating in a research note on Thursday, March 14th. One analyst has rated the stock with a sell rating, one has issued a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $193.50.

Chord Energy Price Performance

Shares of NASDAQ CHRD opened at $180.22 on Thursday. The firm has a 50-day moving average of $175.41 and a two-hundred day moving average of $166.02. The company has a market capitalization of $7.49 billion, a price-to-earnings ratio of 7.66 and a beta of 1.07. The company has a current ratio of 1.22, a quick ratio of 1.16 and a debt-to-equity ratio of 0.08. Chord Energy Co. has a twelve month low of $137.78 and a twelve month high of $190.23.

Chord Energy (NASDAQ:CHRD) last issued its earnings results on Tuesday, May 7th. The company reported $5.10 earnings per share for the quarter, topping analysts’ consensus estimates of $4.75 by $0.35. The firm had revenue of $1.09 billion during the quarter, compared to analysts’ expectations of $771.87 million. Chord Energy had a net margin of 26.27% and a return on equity of 16.35%. The firm’s revenue for the quarter was up 24.8% compared to the same quarter last year. During the same period last year, the firm posted $4.50 earnings per share. As a group, analysts expect that Chord Energy Co. will post 22.03 earnings per share for the current fiscal year.

Chord Energy Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 19th. Shareholders of record on Tuesday, March 5th were issued a $3.25 dividend. This represents a $13.00 annualized dividend and a dividend yield of 7.21%. This is a boost from Chord Energy’s previous quarterly dividend of $1.25. The ex-dividend date was Monday, March 4th. Chord Energy’s dividend payout ratio (DPR) is presently 21.25%.

Insider Transactions at Chord Energy

In related news, CFO Michael H. Lou sold 3,000 shares of the firm’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $165.00, for a total value of $495,000.00. Following the completion of the transaction, the chief financial officer now owns 128,209 shares of the company’s stock, valued at approximately $21,154,485. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.70% of the stock is currently owned by insiders.

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.