Amalgamated Bank Sells 9,374 Shares of Chord Energy Co. (NASDAQ:CHRD)

Amalgamated Bank reduced its stake in shares of Chord Energy Co. (NASDAQ:CHRD - Free Report) by 24.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 29,528 shares of the company's stock after selling 9,374 shares during the quarter. Amalgamated Bank's holdings in Chord Energy were worth $3,845,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Dimensional Fund Advisors LP raised its stake in shares of Chord Energy by 72.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,771,780 shares of the company's stock worth $297,090,000 after buying an additional 741,705 shares during the last quarter. Victory Capital Management Inc. raised its stake in shares of Chord Energy by 397.5% during the second quarter. Victory Capital Management Inc. now owns 1,589,061 shares of the company's stock valued at $266,454,000 after purchasing an additional 1,269,658 shares during the period. Boston Partners boosted its position in Chord Energy by 107.0% in the 1st quarter. Boston Partners now owns 1,305,942 shares of the company's stock valued at $232,813,000 after buying an additional 674,965 shares during the last quarter. American Century Companies Inc. increased its holdings in Chord Energy by 13.2% during the 2nd quarter. American Century Companies Inc. now owns 971,982 shares of the company's stock worth $162,982,000 after purchasing an additional 113,618 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its position in shares of Chord Energy by 27.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 761,852 shares of the company's stock worth $127,747,000 after purchasing an additional 165,196 shares during the last quarter. 97.76% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Samantha Holroyd purchased 500 shares of the firm's stock in a transaction dated Friday, August 23rd. The stock was bought at an average price of $149.51 per share, for a total transaction of $74,755.00. Following the purchase, the director now directly owns 14,417 shares in the company, valued at approximately $2,155,485.67. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.70% of the company's stock.

Chord Energy Price Performance

Shares of NASDAQ CHRD traded down $0.85 during mid-day trading on Friday, reaching $132.01. The company had a trading volume of 812,293 shares, compared to its average volume of 807,586. The business's 50-day simple moving average is $132.26 and its 200 day simple moving average is $156.35. The firm has a market cap of $8.17 billion, a price-to-earnings ratio of 6.80, a PEG ratio of 5.12 and a beta of 0.98. 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 Co. has a one year low of $123.30 and a one year high of $190.23.

Chord Energy (NASDAQ:CHRD - Get Free Report) last issued its earnings results on Wednesday, November 6th. The company reported $3.40 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $3.63 by ($0.23). Chord Energy had a return on equity of 14.12% 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 period in the previous year, the company earned $5.04 EPS. Chord Energy's revenue for the quarter was up 33.4% on a year-over-year basis. On average, research analysts predict that Chord Energy Co. will post 17.07 earnings per share for the current fiscal year.

Chord Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Wednesday, November 27th will be issued a dividend of $1.25 per share. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $5.00 annualized dividend and a dividend yield of 3.79%. Chord Energy's dividend payout ratio is currently 25.75%.

Analyst Upgrades and Downgrades

Several research firms have recently commented on CHRD. Bank of America upped their target price on Chord Energy from $201.00 to $208.00 and gave the company a "buy" rating in a report on Wednesday, August 21st. Wells Fargo & Company decreased their price target on shares of Chord Energy from $185.00 to $180.00 and set an "overweight" rating for the company in a report on Wednesday, October 16th. Wolfe Research initiated coverage on Chord Energy in a research note on Thursday, July 18th. They issued a "peer perform" rating on the stock. BMO Capital Markets decreased their price objective on shares of Chord Energy from $205.00 to $175.00 and set an "outperform" rating for the company in a report on Friday, October 4th. Finally, Siebert Williams Shank upgraded shares of Chord Energy to a "strong-buy" rating in a report on Tuesday, October 15th. Two research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $190.18.

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.