Chord Energy Corporation (NASDAQ:CHRD) Stock Holdings Lowered by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC reduced its holdings in Chord Energy Corporation (NASDAQ:CHRD) by 37.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,404 shares of the company’s stock after selling 6,936 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Chord Energy were worth $1,286,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Gables Capital Management Inc. raised its holdings in shares of Chord Energy by 6.9% in the 4th quarter. Gables Capital Management Inc. now owns 1,550 shares of the company’s stock worth $181,000 after purchasing an additional 100 shares in the last quarter. Envestnet Portfolio Solutions Inc. raised its holdings in shares of Chord Energy by 2.9% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 3,710 shares of the company’s stock worth $434,000 after purchasing an additional 106 shares in the last quarter. MGO One Seven LLC raised its holdings in shares of Chord Energy by 6.7% in the 4th quarter. MGO One Seven LLC now owns 1,775 shares of the company’s stock worth $208,000 after purchasing an additional 111 shares in the last quarter. ProShare Advisors LLC raised its holdings in shares of Chord Energy by 6.0% during the fourth quarter. ProShare Advisors LLC now owns 2,861 shares of the company’s stock valued at $335,000 after acquiring an additional 163 shares during the period. Finally, Signaturefd LLC raised its holdings in shares of Chord Energy by 6.2% during the fourth quarter. Signaturefd LLC now owns 3,046 shares of the company’s stock valued at $356,000 after acquiring an additional 177 shares during the period. 97.76% of the stock is currently owned by institutional investors.

Insider Transactions at Chord Energy

In other news, EVP Shannon Browning Kinney sold 3,091 shares of the stock in a transaction on Thursday, May 8th. The shares were sold at an average price of $94.10, for a total transaction of $290,863.10. Following the transaction, the executive vice president now owns 21,277 shares in the company, valued at $2,002,165.70. This represents a 12.68% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.70% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Mizuho cut their price target on shares of Chord Energy from $154.00 to $150.00 and set an “outperform” rating on the stock in a report on Tuesday, May 13th. 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. Royal Bank Of Canada cut their price target on shares of Chord Energy from $165.00 to $145.00 and set an “outperform” rating on the stock in a report on Friday, April 11th. Wells Fargo & Company cut their price target on shares of Chord Energy from $158.00 to $142.00 and set an “overweight” rating on the stock in a report on Monday, June 16th. Finally, Wall Street Zen upgraded shares of Chord Energy from a “sell” rating to a “hold” rating in a report on Friday. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Chord Energy currently has an average rating of “Moderate Buy” and an average price target of $152.54.

Chord Energy Stock Down 0.7%

CHRD stock opened at $98.70 on Friday. Chord Energy Corporation has a 12-month low of $79.83 and a 12-month high of $181.17. The company has a quick ratio of 0.83, a current ratio of 0.89 and a debt-to-equity ratio of 0.09. The company has a market cap of $5.70 billion, a price-to-earnings ratio of 6.60, a PEG ratio of 6.84 and a beta of 0.96. The company has a 50 day moving average of $95.69 and a two-hundred day moving average of $105.27.

Chord Energy (NASDAQ:CHRD) last released its earnings results on Tuesday, May 6th. The company reported $4.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.60 by $0.44. Chord Energy had a net margin of 16.15% and a return on equity of 10.34%. The company had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.07 billion. During the same quarter in the prior year, the firm earned $5.10 EPS. The company’s revenue was up 12.0% compared to the same quarter last year. On average, equities analysts anticipate that Chord Energy Corporation will post 15.59 earnings per share for the current fiscal year.

Chord Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 9th. Stockholders of record on Wednesday, May 21st were paid a dividend of $1.30 per share. The ex-dividend date was Wednesday, May 21st. This represents a $5.20 annualized dividend and a dividend yield of 5.27%. Chord Energy’s dividend payout ratio (DPR) is 34.78%.

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.