Janney Montgomery Scott LLC Has $1.29 Million Position in Chord Energy Corporation (NASDAQ:CHRD)

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

Several other hedge funds also recently made changes to their positions in CHRD. FMR LLC increased its position in Chord Energy by 11.5% during the 4th quarter. FMR LLC now owns 3,814,384 shares of the company's stock valued at $445,978,000 after buying an additional 394,372 shares in the last quarter. Victory Capital Management Inc. lifted its position in Chord Energy by 27.6% in the 4th quarter. Victory Capital Management Inc. now owns 2,864,456 shares of the company's stock valued at $334,912,000 after acquiring an additional 619,021 shares in the last quarter. Boston Partners boosted its stake in Chord Energy by 5.6% during the 4th quarter. Boston Partners now owns 2,186,483 shares of the company's stock valued at $255,684,000 after purchasing an additional 115,215 shares during the last quarter. American Century Companies Inc. raised its stake in shares of Chord Energy by 15.0% in the fourth quarter. American Century Companies Inc. now owns 1,116,073 shares of the company's stock worth $130,491,000 after purchasing an additional 145,627 shares during the last quarter. Finally, Adage Capital Partners GP L.L.C. grew its stake in shares of Chord Energy by 19.0% in the fourth quarter. Adage Capital Partners GP L.L.C. now owns 855,381 shares of the company's stock worth $100,011,000 after acquiring an additional 136,751 shares during the period. 97.76% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on CHRD shares. Wells Fargo & Company cut their price objective on Chord Energy from $158.00 to $142.00 and set an "overweight" rating for the company in a research note on Monday, June 16th. 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 reduced their price objective on shares of Chord Energy from $165.00 to $145.00 and set an "outperform" rating for the company in a research note on Friday, April 11th. Piper Sandler cut their price target on shares of Chord Energy from $161.00 to $159.00 and set an "overweight" rating on the stock in a research note on Tuesday. Finally, Bank of America cut their target price on Chord Energy from $114.00 to $112.00 and set a "buy" rating on the stock in a research report on Friday, May 23rd. One analyst has rated the stock with a sell rating, two have issued a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, Chord Energy has an average rating of "Moderate Buy" and an average target price of $150.69.

Chord Energy Trading Up 2.6%

Shares of Chord Energy stock traded up $2.59 on Wednesday, reaching $103.43. 419,977 shares of the company were exchanged, compared to its average volume of 856,659. The company has a current ratio of 0.89, a quick ratio of 0.83 and a debt-to-equity ratio of 0.09. The firm has a market capitalization of $5.97 billion, a price-to-earnings ratio of 6.91 and a beta of 0.96. Chord Energy Corporation has a fifty-two week low of $79.83 and a fifty-two week high of $181.17. The stock has a fifty day moving average price of $95.90 and a 200-day moving average price of $104.98.

Chord Energy (NASDAQ:CHRD - Get Free Report) last announced its quarterly earnings results on Tuesday, May 6th. The company reported $4.04 EPS for the quarter, topping the consensus estimate of $3.60 by $0.44. The company had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.07 billion. Chord Energy had a net margin of 16.15% and a return on equity of 10.34%. Chord Energy's quarterly revenue was up 12.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $5.10 EPS. On average, analysts expect that Chord Energy Corporation will post 15.59 EPS for the current year.

Chord Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 9th. Stockholders of record on Wednesday, May 21st were given a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a dividend yield of 5.03%. The ex-dividend date was Wednesday, May 21st. Chord Energy's dividend payout ratio is presently 34.78%.

Insider Buying and Selling

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

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.