JPMorgan Chase & Co. Has $33.19 Million Position in Chord Energy Co. (NASDAQ:CHRD)

JPMorgan Chase & Co. lowered its holdings in shares of Chord Energy Co. (NASDAQ:CHRD - Free Report) by 47.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 254,833 shares of the company's stock after selling 233,333 shares during the quarter. JPMorgan Chase & Co. owned 0.42% of Chord Energy worth $33,187,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Victory Capital Management Inc. grew its holdings in shares of Chord Energy by 41.3% during the third quarter. Victory Capital Management Inc. now owns 2,245,435 shares of the company's stock worth $292,423,000 after buying an additional 656,374 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Chord Energy by 3.0% in the third quarter. Geode Capital Management LLC now owns 1,162,442 shares of the company's stock valued at $151,077,000 after purchasing an additional 34,156 shares during the last quarter. Bank of Montreal Can lifted its position in shares of Chord Energy by 956.5% in the second quarter. Bank of Montreal Can now owns 58,359 shares of the company's stock worth $9,873,000 after purchasing an additional 52,835 shares in the last quarter. Foundry Partners LLC lifted its position in shares of Chord Energy by 22.7% in the third quarter. Foundry Partners LLC now owns 52,009 shares of the company's stock worth $6,773,000 after purchasing an additional 9,613 shares in the last quarter. Finally, Caxton Associates LP acquired a new position in Chord Energy during the second quarter worth $2,515,000. Institutional investors own 97.76% of the company's stock.

Chord Energy Stock Performance

Chord Energy stock traded up $0.64 during trading hours on Tuesday, hitting $122.79. The company had a trading volume of 620,436 shares, compared to its average volume of 675,633. The firm has a 50-day moving average of $122.71 and a 200 day moving average of $139.89. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.93 and a quick ratio of 0.89. The firm has a market cap of $7.51 billion, a PE ratio of 6.32, a PEG ratio of 4.79 and a beta of 0.99. Chord Energy Co. has a one year low of $109.59 and a one year high of $190.23.

Chord Energy (NASDAQ:CHRD - Get Free Report) last announced its earnings results on Wednesday, November 6th. The company reported $3.40 earnings per share for the quarter, missing analysts' consensus estimates of $3.63 by ($0.23). Chord Energy had a return on equity of 12.88% and a net margin of 19.74%. The firm had revenue of $1.12 billion for the quarter, compared to the consensus estimate of $1.26 billion. During the same quarter last year, the business posted $5.04 EPS. Chord Energy's revenue for the quarter was up 33.4% on a year-over-year basis. On average, sell-side analysts expect that Chord Energy Co. will post 16.5 earnings per share for the current year.

Chord Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Wednesday, November 27th were paid a $1.25 dividend. The ex-dividend date of this dividend was Wednesday, November 27th. This represents a $5.00 annualized dividend and a dividend yield of 4.07%. Chord Energy's dividend payout ratio (DPR) is presently 25.75%.

Insider Buying and Selling

In other Chord Energy news, CAO Shannon Browning Kinney sold 1,000 shares of the firm's stock in a transaction 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 in the company, valued at $2,267,428.80. This trade represents a 4.88 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.70% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several brokerages have commented on CHRD. BMO Capital Markets cut their price target on shares of Chord Energy from $205.00 to $175.00 and set an "outperform" rating on the stock in a research report on Friday, October 4th. UBS Group dropped their target price on Chord Energy from $168.00 to $161.00 and set a "buy" rating on the stock in a report on Monday, December 9th. Siebert Williams Shank upgraded Chord Energy to a "strong-buy" rating in a research note 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 note on Friday. Finally, Piper Sandler decreased their target price on shares of Chord Energy from $212.00 to $194.00 and set an "overweight" rating for the company in a research note on Tuesday, December 17th. One investment analyst has rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Chord Energy presently has an average rating of "Buy" and a consensus target price of $180.25.

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.