Chord Energy Corporation $CHRD Shares Sold by JPMorgan Chase & Co.

JPMorgan Chase & Co. decreased its position in shares of Chord Energy Corporation (NASDAQ:CHRD) by 7.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 242,924 shares of the company’s stock after selling 18,373 shares during the quarter. JPMorgan Chase & Co. owned about 0.43% of Chord Energy worth $24,139,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the company. First Citizens Bank & Trust Co. lifted its position in Chord Energy by 2.3% in the 3rd quarter. First Citizens Bank & Trust Co. now owns 5,306 shares of the company’s stock valued at $527,000 after purchasing an additional 120 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in Chord Energy by 18.8% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 822 shares of the company’s stock valued at $82,000 after purchasing an additional 130 shares during the period. WealthCollab LLC grew its position in Chord Energy by 90.6% in the 2nd quarter. WealthCollab LLC now owns 305 shares of the company’s stock worth $30,000 after purchasing an additional 145 shares during the last quarter. PNC Financial Services Group Inc. increased its stake in shares of Chord Energy by 3.8% in the third quarter. PNC Financial Services Group Inc. now owns 4,325 shares of the company’s stock valued at $430,000 after purchasing an additional 157 shares during the period. Finally, Jones Financial Companies Lllp increased its stake in shares of Chord Energy by 15.5% in the third quarter. Jones Financial Companies Lllp now owns 1,245 shares of the company’s stock valued at $130,000 after purchasing an additional 167 shares during the period. Institutional investors own 97.76% of the company’s stock.

Chord Energy Price Performance

Shares of Chord Energy stock opened at $130.75 on Tuesday. Chord Energy Corporation has a 52 week low of $79.83 and a 52 week high of $133.29. The company has a current ratio of 1.06, a quick ratio of 0.98 and a debt-to-equity ratio of 0.18. The stock has a market cap of $7.41 billion, a PE ratio of 207.54 and a beta of 0.84. The company’s 50-day moving average price is $107.01 and its two-hundred day moving average price is $98.99.

Chord Energy (NASDAQ:CHRD) last posted its quarterly earnings data on Wednesday, February 25th. The company reported $1.28 earnings per share for the quarter, beating the consensus estimate of $1.17 by $0.11. Chord Energy had a net margin of 0.91% and a return on equity of 6.71%. The company had revenue of $1.17 billion during the quarter, compared to analyst estimates of $1.03 billion. During the same quarter last year, the firm posted $3.49 EPS. The business’s revenue for the quarter was down 19.6% on a year-over-year basis. As a group, sell-side analysts anticipate that Chord Energy Corporation will post 15.59 EPS for the current fiscal year.

Chord Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 27th. Investors of record on Thursday, March 12th will be issued a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a yield of 4.0%. The ex-dividend date is Thursday, March 12th. Chord Energy’s dividend payout ratio (DPR) is presently 825.40%.

Insider Buying and Selling at Chord Energy

In other Chord Energy news, CAO Lara J. Kroll sold 5,000 shares of the company’s stock in a transaction on Tuesday, March 3rd. The stock was sold at an average price of $113.66, for a total value of $568,300.00. Following the transaction, the chief accounting officer owned 8,921 shares of the company’s stock, valued at approximately $1,013,960.86. This represents a 35.92% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Shannon Browning Kinney sold 1,801 shares of the stock in a transaction on Tuesday, March 3rd. The shares were sold at an average price of $114.36, for a total value of $205,962.36. Following the sale, the executive vice president owned 20,188 shares of the company’s stock, valued at $2,308,699.68. This trade represents a 8.19% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 23,927 shares of company stock worth $2,912,028. 0.70% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on CHRD shares. Zacks Research upgraded Chord Energy from a “strong sell” rating to a “hold” rating in a research report on Friday, March 6th. Citigroup raised their target price on Chord Energy from $97.00 to $120.00 and gave the company a “neutral” rating in a research report on Friday, March 6th. Mizuho set a $148.00 target price on Chord Energy in a research note on Friday, January 9th. Piper Sandler boosted their price target on Chord Energy from $158.00 to $190.00 and gave the stock an “overweight” rating in a research report on Thursday, March 12th. Finally, Royal Bank Of Canada decreased their price target on Chord Energy from $135.00 to $128.00 and set an “outperform” rating for the company in a research note on Tuesday, January 13th. Eight analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, Chord Energy has an average rating of “Moderate Buy” and a consensus price target of $131.27.

Chord Energy Profile

Chord Energy Corporation (NASDAQ: CHRD), formerly known as Oasis Petroleum Inc, is an independent exploration and production company focused on the acquisition, development and production of crude oil, natural gas and natural gas liquids. Headquartered in Houston, Texas, Chord Energy emerged from financial restructuring in early 2021 and rebranded in October 2022 to reflect its renewed strategic vision.

The company’s core operations are concentrated in two prolific U.S. resource plays: the Williston Basin across North Dakota and Montana, and the Delaware Basin spanning parts of West Texas and southeastern New Mexico.