Amalgamated Bank Cuts Stock Holdings in Chord Energy Co. (NASDAQ:CHRD)

Amalgamated Bank decreased its holdings in shares of Chord Energy Co. (NASDAQ:CHRD) by 1.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 29,128 shares of the company’s stock after selling 400 shares during the period. Amalgamated Bank’s holdings in Chord Energy were worth $3,406,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of CHRD. Stone House Investment Management LLC purchased a new position in Chord Energy in the third quarter worth $26,000. Brooklyn Investment Group purchased a new position in shares of Chord Energy in the 4th quarter valued at about $29,000. R Squared Ltd acquired a new stake in shares of Chord Energy in the fourth quarter valued at about $51,000. Venturi Wealth Management LLC grew its position in Chord Energy by 1,751.9% during the fourth quarter. Venturi Wealth Management LLC now owns 500 shares of the company’s stock worth $58,000 after buying an additional 473 shares during the period. Finally, Union Bancaire Privee UBP SA purchased a new position in Chord Energy in the fourth quarter valued at about $77,000. 97.76% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on CHRD shares. Morgan Stanley began coverage on Chord Energy in a report on Friday, January 10th. They issued an “equal weight” rating and a $158.00 price target on the stock. UBS Group cut their price target on Chord Energy from $168.00 to $161.00 and set a “buy” rating for the company in a research note on Monday, December 9th. Royal Bank of Canada lowered their price objective on shares of Chord Energy from $185.00 to $180.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 20th. Mizuho cut their target price on shares of Chord Energy from $192.00 to $178.00 and set an “outperform” rating for the company in a research report on Monday, December 16th. Finally, Wells Fargo & Company lowered their price target on shares of Chord Energy from $176.00 to $175.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 15th. Three equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $169.92.

Insider Buying and Selling at Chord Energy

In related news, CAO Shannon Browning Kinney sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $116.35, for a total value of $116,350.00. Following the sale, the chief accounting officer now directly owns 19,488 shares of the company’s stock, valued at approximately $2,267,428.80. This trade represents a 4.88 % decrease in their ownership of the stock. 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 company insiders.

Chord Energy Price Performance

CHRD stock opened at $114.30 on Friday. The stock has a market capitalization of $6.99 billion, a price-to-earnings ratio of 5.89, a price-to-earnings-growth ratio of 5.83 and a beta of 0.98. The company has a quick ratio of 0.89, a current ratio of 0.93 and a debt-to-equity ratio of 0.10. Chord Energy Co. has a 52-week low of $107.24 and a 52-week high of $190.23. The stock’s fifty day simple moving average is $116.36 and its 200-day simple moving average is $127.06.

Chord Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 26th. Shareholders of record on Tuesday, March 11th will be paid a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a yield of 4.55%. This is a positive change from Chord Energy’s previous quarterly dividend of $1.25. The ex-dividend date of this dividend is Tuesday, March 11th. Chord Energy’s dividend payout ratio (DPR) is presently 31.37%.

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.