JPMorgan Chase & Co. Increases Stock Position in Chord Energy Co. (NASDAQ:CHRD)

JPMorgan Chase & Co. raised its position in shares of Chord Energy Co. (NASDAQ:CHRD - Free Report) by 3.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 263,288 shares of the company's stock after acquiring an additional 8,455 shares during the period. JPMorgan Chase & Co. owned approximately 0.43% of Chord Energy worth $30,784,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of CHRD. Brooklyn Investment Group purchased a new stake in Chord Energy during the fourth quarter valued at $29,000. Twin Tree Management LP bought a new stake in shares of Chord Energy in the 4th quarter worth about $33,000. Larson Financial Group LLC raised its position in shares of Chord Energy by 238.3% during the 4th quarter. Larson Financial Group LLC now owns 318 shares of the company's stock valued at $37,000 after buying an additional 224 shares in the last quarter. R Squared Ltd bought a new position in shares of Chord Energy in the 4th quarter valued at about $51,000. Finally, Venturi Wealth Management LLC grew its position in Chord Energy by 1,751.9% in the fourth quarter. Venturi Wealth Management LLC now owns 500 shares of the company's stock worth $58,000 after acquiring an additional 473 shares in the last quarter. 97.76% of the stock is currently owned by institutional investors.

Chord Energy Trading Up 4.0 %

Shares of NASDAQ CHRD traded up $3.45 during trading hours on Friday, reaching $89.34. The stock had a trading volume of 1,154,332 shares, compared to its average volume of 968,493. The business's fifty day moving average price is $106.10 and its two-hundred day moving average price is $118.01. The firm has a market cap of $5.31 billion, a price-to-earnings ratio of 4.60, a P/E/G ratio of 5.83 and a beta of 0.96. Chord Energy Co. has a 52-week low of $79.83 and a 52-week high of $190.23. The company has a current ratio of 0.93, a quick ratio of 0.89 and a debt-to-equity ratio of 0.10.

Remove Ads

Chord Energy Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 26th. Stockholders of record on Tuesday, March 11th were given a dividend of $1.30 per share. This is an increase from Chord Energy's previous quarterly dividend of $1.25. The ex-dividend date of this dividend was Tuesday, March 11th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 5.82%. Chord Energy's dividend payout ratio is presently 32.62%.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on CHRD shares. Bank of America lowered their price objective on Chord Energy from $138.00 to $125.00 and set a "neutral" rating for the company in a research note on Tuesday, April 1st. Wells Fargo & Company dropped their price objective on shares of Chord Energy from $175.00 to $166.00 and set an "overweight" rating for the company in a research note on Monday, March 24th. Truist Financial increased their target price on shares of Chord Energy from $185.00 to $186.00 and gave the company a "buy" rating in a research note on Monday, January 13th. Piper Sandler lowered their target price on shares of Chord Energy from $193.00 to $184.00 and set an "overweight" rating for the company in a report on Thursday, March 6th. Finally, Citigroup cut their price target on shares of Chord Energy from $135.00 to $120.00 and set a "buy" rating on the stock in a report on Monday, April 7th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $157.62.

About Chord Energy

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.