JPMorgan Chase & Co. Has $24.14 Million Holdings in Chord Energy Corporation $CHRD

JPMorgan Chase & Co. cut its position in shares of Chord Energy Corporation (NASDAQ:CHRD) by 7.0% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 242,924 shares of the company’s stock after selling 18,373 shares during the quarter. JPMorgan Chase & Co.’s holdings in Chord Energy were worth $24,139,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in CHRD. Victory Capital Management Inc. increased its position in shares of Chord Energy by 5.4% in the third quarter. Victory Capital Management Inc. now owns 3,166,564 shares of the company’s stock worth $314,661,000 after acquiring an additional 163,125 shares in the last quarter. Wellington Management Group LLP lifted its position in shares of Chord Energy by 19.9% in the 3rd quarter. Wellington Management Group LLP now owns 1,705,153 shares of the company’s stock valued at $169,441,000 after acquiring an additional 282,746 shares in the last quarter. American Century Companies Inc. boosted its stake in Chord Energy by 15.5% in the 2nd quarter. American Century Companies Inc. now owns 1,337,079 shares of the company’s stock worth $129,496,000 after purchasing an additional 179,209 shares during the period. Sourcerock Group LLC boosted its stake in Chord Energy by 2.1% in the 2nd quarter. Sourcerock Group LLC now owns 1,031,973 shares of the company’s stock worth $99,947,000 after purchasing an additional 20,916 shares during the period. Finally, Adage Capital Partners GP L.L.C. grew its position in Chord Energy by 22.2% during the 2nd quarter. Adage Capital Partners GP L.L.C. now owns 990,381 shares of the company’s stock worth $95,918,000 after purchasing an additional 180,000 shares in the last quarter. 97.76% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have issued reports on CHRD. Morgan Stanley cut their target price on shares of Chord Energy from $123.00 to $114.00 and set an “equal weight” rating on the stock in a research note on Friday, January 23rd. Jefferies Financial Group set a $99.00 target price on Chord Energy in a research report on Saturday, January 17th. Mizuho set a $148.00 price target on Chord Energy in a report on Friday, January 9th. Royal Bank Of Canada dropped their price target on Chord Energy from $135.00 to $128.00 and set an “outperform” rating on the stock in a research report on Tuesday, January 13th. Finally, UBS Group increased their price objective on Chord Energy from $119.00 to $142.00 and gave the stock a “buy” rating in a research note on Thursday, March 5th. Eight research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat.com, Chord Energy presently has a consensus rating of “Moderate Buy” and a consensus price target of $131.27.

Chord Energy Stock Down 0.9%

Chord Energy stock opened at $130.75 on Tuesday. Chord Energy Corporation has a twelve month low of $79.83 and a twelve month high of $133.29. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.98 and a current ratio of 1.06. The firm has a market cap of $7.41 billion, a PE ratio of 207.54 and a beta of 0.84. The firm’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 issued its earnings results on Wednesday, February 25th. The company reported $1.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 business posted $3.49 EPS. The company’s revenue for the quarter was down 19.6% on a year-over-year basis. On average, research analysts predict that Chord Energy Corporation will post 15.59 EPS for the current fiscal year.

Chord Energy Announces Dividend

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

Insider Transactions at Chord Energy

In other Chord Energy news, EVP Michael H. Lou sold 15,000 shares of the business’s stock in a transaction dated Thursday, March 12th. The stock was sold at an average price of $125.47, for a total value of $1,882,050.00. Following the transaction, the executive vice president owned 82,699 shares in the company, valued at $10,376,243.53. The trade was a 15.35% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Douglas E. Brooks sold 2,126 shares of the company’s stock in a transaction dated Friday, March 6th. The stock was sold at an average price of $120.28, for a total value of $255,715.28. Following the completion of the transaction, the director directly owned 25,181 shares in the company, valued at approximately $3,028,770.68. The trade was a 7.79% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 23,927 shares of company stock worth $2,912,028 in the last ninety days. Company insiders own 0.70% of the company’s stock.

Chord Energy Company 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.