Amalgamated Bank Cuts Stake in Chord Energy Corporation $CHRD

Amalgamated Bank reduced its stake in shares of Chord Energy Corporation (NASDAQ:CHRD) by 5.2% during the 2nd quarter, HoldingsChannel reports. The fund owned 26,532 shares of the company’s stock after selling 1,441 shares during the period. Amalgamated Bank’s holdings in Chord Energy were worth $2,570,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CHRD. Nuveen LLC acquired a new stake in Chord Energy during the first quarter worth about $36,837,000. HITE Hedge Asset Management LLC increased its position in Chord Energy by 27.8% during the 1st quarter. HITE Hedge Asset Management LLC now owns 446,015 shares of the company’s stock worth $50,275,000 after purchasing an additional 97,086 shares in the last quarter. Trexquant Investment LP increased its position in Chord Energy by 176.1% during the 1st quarter. Trexquant Investment LP now owns 144,736 shares of the company’s stock worth $16,315,000 after purchasing an additional 92,320 shares in the last quarter. Gotham Asset Management LLC increased its position in Chord Energy by 864.5% during the 1st quarter. Gotham Asset Management LLC now owns 100,775 shares of the company’s stock worth $11,359,000 after purchasing an additional 90,327 shares in the last quarter. Finally, AQR Capital Management LLC increased its position in Chord Energy by 59.8% during the 1st quarter. AQR Capital Management LLC now owns 236,436 shares of the company’s stock worth $26,651,000 after purchasing an additional 88,490 shares in the last quarter. 97.76% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, EVP Shannon Browning Kinney sold 3,019 shares of the firm’s stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $105.43, for a total transaction of $318,293.17. Following the completion of the sale, the executive vice president owned 14,650 shares of the company’s stock, valued at approximately $1,544,549.50. This trade represents a 17.09% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.70% of the stock is currently owned by company insiders.

Chord Energy Stock Down 2.2%

Shares of NASDAQ:CHRD opened at $88.93 on Wednesday. The company has a quick ratio of 0.90, a current ratio of 0.97 and a debt-to-equity ratio of 0.11. Chord Energy Corporation has a 52-week low of $79.83 and a 52-week high of $136.38. The company has a 50 day moving average of $98.91 and a two-hundred day moving average of $99.64. The company has a market capitalization of $5.09 billion, a price-to-earnings ratio of 22.63 and a beta of 0.92.

Chord Energy (NASDAQ:CHRD) last issued its quarterly earnings data on Tuesday, November 4th. The company reported $2.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.24 by $0.11. Chord Energy had a net margin of 5.02% and a return on equity of 9.02%. The company had revenue of $1.31 billion during the quarter, compared to the consensus estimate of $1.02 billion. During the same quarter last year, the company earned $3.40 earnings per share. Chord Energy’s revenue for the quarter was up 17.0% on a year-over-year basis. As a group, analysts forecast that Chord Energy Corporation will post 15.59 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts recently issued reports on CHRD shares. Roth Capital started coverage on shares of Chord Energy in a research report on Monday, October 13th. They set a “buy” rating and a $130.00 target price for the company. Piper Sandler dropped their target price on shares of Chord Energy from $169.00 to $167.00 and set an “overweight” rating for the company in a research report on Friday, October 3rd. Citigroup increased their target price on shares of Chord Energy from $120.00 to $125.00 and gave the stock a “buy” rating in a research report on Wednesday, July 9th. Scotiabank started coverage on shares of Chord Energy in a research report on Friday, September 19th. They set a “sector perform” rating and a $120.00 target price for the company. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of Chord Energy in a research report on Wednesday, October 8th. Ten research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $138.38.

Chord Energy Company 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.