Bank of America Corp DE Has $33.41 Million Holdings in Chord Energy Co. (NASDAQ:CHRD)

Bank of America Corp DE lowered its position in Chord Energy Co. (NASDAQ:CHRD - Free Report) by 25.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 285,772 shares of the company's stock after selling 97,114 shares during the period. Bank of America Corp DE owned 0.47% of Chord Energy worth $33,412,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Benjamin Edwards Inc. increased its holdings in shares of Chord Energy by 9.1% in the fourth quarter. Benjamin Edwards Inc. now owns 3,400 shares of the company's stock valued at $398,000 after purchasing an additional 283 shares in the last quarter. BNP Paribas Financial Markets bought a new position in Chord Energy in the fourth quarter valued at about $4,721,000. Ameriprise Financial Inc. raised its holdings in Chord Energy by 8.6% during the 4th quarter. Ameriprise Financial Inc. now owns 108,561 shares of the company's stock worth $12,693,000 after purchasing an additional 8,621 shares during the last quarter. Algert Global LLC acquired a new position in Chord Energy in the fourth quarter valued at approximately $14,515,000. Finally, Alyeska Investment Group L.P. boosted its position in shares of Chord Energy by 39.0% in the 4th quarter. Alyeska Investment Group L.P. now owns 129,814 shares of the company's stock worth $15,178,000 after purchasing an additional 36,438 shares during the last quarter. 97.76% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CHRD has been the subject of several recent analyst reports. Mizuho lowered their target price on shares of Chord Energy from $154.00 to $150.00 and set an "outperform" rating for the company in a research note on Tuesday, May 13th. Royal Bank of Canada decreased their price target on shares of Chord Energy from $165.00 to $145.00 and set an "outperform" rating for the company in a report on Friday, April 11th. Citigroup dropped their price objective on Chord Energy from $135.00 to $120.00 and set a "buy" rating on the stock in a research note on Monday, April 7th. Wells Fargo & Company decreased their target price on Chord Energy from $166.00 to $158.00 and set an "overweight" rating for the company in a research note on Tuesday, April 15th. Finally, Piper Sandler dropped their price target on Chord Energy from $184.00 to $183.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 22nd. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $153.92.

Chord Energy Price Performance

CHRD stock traded down $2.11 during trading on Wednesday, reaching $91.22. 376,582 shares of the company were exchanged, compared to its average volume of 980,644. The company has a market capitalization of $5.27 billion, a price-to-earnings ratio of 4.70, a P/E/G ratio of 5.83 and a beta of 0.99. 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 company has a 50-day moving average of $97.67 and a two-hundred day moving average of $111.15. Chord Energy Co. has a twelve month low of $79.83 and a twelve month high of $188.02.

Chord Energy (NASDAQ:CHRD - Get Free Report) last issued its quarterly earnings data on Tuesday, May 6th. The company reported $4.04 earnings per share for the quarter, topping analysts' consensus estimates of $3.60 by $0.44. The business had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.07 billion. Chord Energy had a return on equity of 12.88% and a net margin of 19.74%. Chord Energy's quarterly revenue was up 12.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $5.10 EPS. As a group, equities analysts predict that Chord Energy Co. will post 15.59 earnings per share for the current fiscal year.

Chord Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 9th. Shareholders of record on Wednesday, May 21st will be issued a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a yield of 5.70%. The ex-dividend date is Wednesday, May 21st. Chord Energy's payout ratio is 34.78%.

Insider Buying and Selling at Chord Energy

In other Chord Energy news, EVP Shannon Browning Kinney sold 3,091 shares of the company's stock in a transaction dated Thursday, May 8th. The stock was sold at an average price of $94.10, for a total value of $290,863.10. Following the sale, the executive vice president now owns 21,277 shares in the company, valued at approximately $2,002,165.70. The trade was a 12.68% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.70% of the company's stock.

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.