Sei Investments Co. Sells 44,869 Shares of Chord Energy Corporation $CHRD

Sei Investments Co. cut its stake in Chord Energy Corporation (NASDAQ:CHRD) by 16.6% in the first quarter, Holdings Channel.com reports. The firm owned 225,398 shares of the company’s stock after selling 44,869 shares during the quarter. Sei Investments Co.’s holdings in Chord Energy were worth $32,047,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in CHRD. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of Chord Energy by 17.1% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 123,964 shares of the company’s stock valued at $13,973,000 after purchasing an additional 18,137 shares during the period. Focus Partners Wealth acquired a new position in shares of Chord Energy during the first quarter worth about $289,000. EverSource Wealth Advisors LLC grew its holdings in shares of Chord Energy by 364.2% during the second quarter. EverSource Wealth Advisors LLC now owns 1,555 shares of the company’s stock worth $151,000 after buying an additional 1,220 shares in the last quarter. Jump Financial LLC bought a new position in shares of Chord Energy during the second quarter worth about $1,010,000. Finally, Gamco Investors INC. ET AL raised its position in Chord Energy by 108.5% in the 2nd quarter. Gamco Investors INC. ET AL now owns 10,429 shares of the company’s stock valued at $1,010,000 after buying an additional 5,428 shares during the last quarter. Institutional investors own 97.76% of the company’s stock.

Chord Energy Stock Down 4.7%

CHRD stock opened at $131.80 on Tuesday. Chord Energy Corporation has a 1-year low of $84.25 and a 1-year high of $151.95. The business’s 50 day simple moving average is $129.02 and its 200 day simple moving average is $122.86. The company has a current ratio of 1.02, a quick ratio of 0.96 and a debt-to-equity ratio of 0.18. The firm has a market capitalization of $7.42 billion, a PE ratio of -116.64 and a beta of 0.49.

Chord Energy (NASDAQ:CHRD) last announced its quarterly earnings results on Tuesday, May 5th. The company reported $4.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.51 by $1.05. Chord Energy had a positive return on equity of 7.06% and a negative net margin of 1.25%.The business had revenue of $1.67 billion during the quarter, compared to the consensus estimate of $1.21 billion. During the same quarter last year, the firm posted $4.04 EPS. The company’s quarterly revenue was up 37.1% on a year-over-year basis. As a group, research analysts anticipate that Chord Energy Corporation will post 18.32 EPS for the current year.

Chord Energy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 5th. Stockholders of record on Wednesday, May 20th were paid a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date was Wednesday, May 20th. Chord Energy’s dividend payout ratio (DPR) is currently -460.18%.

Wall Street Analyst Weigh In

Several equities research analysts have commented on CHRD shares. Truist Financial cut their target price on Chord Energy from $185.00 to $170.00 and set a “buy” rating on the stock in a research note on Tuesday, July 7th. Mizuho lifted their price objective on shares of Chord Energy from $164.00 to $175.00 and gave the company an “outperform” rating in a report on Wednesday, May 27th. Roth Capital reissued a “buy” rating and issued a $145.00 price objective on shares of Chord Energy in a research report on Wednesday, July 15th. Morgan Stanley reduced their target price on shares of Chord Energy from $175.00 to $169.00 and set an “overweight” rating for the company in a report on Monday, June 29th. Finally, Citigroup decreased their target price on shares of Chord Energy from $155.00 to $130.00 and set a “neutral” rating for the company in a research report on Friday, July 10th. Eleven analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $152.38.

Insider Transactions at Chord Energy

In related news, COO Darrin J. Henke sold 1,276 shares of Chord Energy stock in a transaction that occurred on Friday, May 15th. The stock was sold at an average price of $145.97, for a total transaction of $186,257.72. Following the completion of the sale, the chief operating officer directly owned 21,157 shares of the company’s stock, valued at approximately $3,088,287.29. This trade represents a 5.69% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Douglas E. Brooks sold 1,500 shares of the business’s stock in a transaction on Monday, May 11th. The shares were sold at an average price of $138.57, for a total value of $207,855.00. Following the completion of the sale, the director owned 18,705 shares of the company’s stock, valued at $2,591,951.85. This trade represents a 7.42% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 9,276 shares of company stock valued at $1,285,968. 0.79% of the stock is currently owned by corporate insiders.

Chord Energy Company Profile

Chord Energy Corporation (NASDAQ: CHRD), formerly known as Oasis Petroleum Inc, is an independent exploration and production company focused on the acquisition, development and production of crude oil, natural gas and natural gas liquids. Headquartered in Houston, Texas, Chord Energy emerged from financial restructuring in early 2021 and rebranded in October 2022 to reflect its renewed strategic vision.

The company’s core operations are concentrated in two prolific U.S. resource plays: the Williston Basin across North Dakota and Montana, and the Delaware Basin spanning parts of West Texas and southeastern New Mexico.