Pacer Advisors Inc. Sells 341,240 Shares of Chord Energy Corporation $CHRD

Pacer Advisors Inc. decreased its holdings in Chord Energy Corporation (NASDAQ:CHRD) by 60.0% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 227,964 shares of the company’s stock after selling 341,240 shares during the period. Pacer Advisors Inc.’s holdings in Chord Energy were worth $32,412,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. Bessemer Group Inc. boosted its position in Chord Energy by 63.8% during the 1st quarter. Bessemer Group Inc. now owns 190 shares of the company’s stock valued at $27,000 after acquiring an additional 74 shares in the last quarter. V Square Quantitative Management LLC purchased a new stake in shares of Chord Energy during the 1st quarter worth $29,000. WealthCollab LLC lifted its stake in shares of Chord Energy by 90.6% during the 2nd quarter. WealthCollab LLC now owns 305 shares of the company’s stock worth $30,000 after purchasing an additional 145 shares during the last quarter. Root Financial Partners LLC boosted its position in Chord Energy by 178.6% during the first quarter. Root Financial Partners LLC now owns 234 shares of the company’s stock valued at $33,000 after purchasing an additional 150 shares in the last quarter. Finally, Rockefeller Capital Management L.P. boosted its position in Chord Energy by 213.1% during the fourth quarter. Rockefeller Capital Management L.P. now owns 501 shares of the company’s stock valued at $47,000 after purchasing an additional 341 shares in the last quarter. Hedge funds and other institutional investors own 97.76% of the company’s stock.

Chord Energy Trading Down 0.7%

Shares of NASDAQ:CHRD opened at $139.33 on Tuesday. The business’s 50-day moving average is $128.16 and its 200 day moving average is $124.44. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.02 and a quick ratio of 0.96. Chord Energy Corporation has a 1 year low of $84.25 and a 1 year high of $151.95. The firm has a market capitalization of $7.84 billion, a P/E ratio of -123.30 and a beta of 0.48.

Chord Energy (NASDAQ:CHRD) last issued its quarterly earnings results on Tuesday, May 5th. The company reported $4.56 earnings per share for the quarter, topping 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 company earned $4.04 earnings per share. The company’s quarterly revenue was up 37.1% on a year-over-year basis. On average, research analysts predict that Chord Energy Corporation will post 18.32 earnings per share for the current fiscal year.

Insider Activity at Chord Energy

In other Chord Energy news, Director Douglas E. Brooks sold 3,500 shares of the company’s stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $136.71, for a total transaction of $478,485.00. Following the transaction, the director owned 20,205 shares in the company, valued at approximately $2,762,225.55. This represents a 14.76% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, COO Darrin J. Henke sold 1,276 shares of the firm’s stock in a transaction 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 transaction, the chief operating officer directly owned 21,157 shares of the company’s stock, valued at approximately $3,088,287.29. This represents a 5.69% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 9,276 shares of company stock valued at $1,285,968 over the last ninety days. 0.79% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Wells Fargo & Company boosted their target price on shares of Chord Energy from $136.00 to $175.00 and gave the stock an “overweight” rating in a report on Wednesday, April 8th. Zacks Research cut shares of Chord Energy from a “strong-buy” rating to a “hold” rating in a report on Tuesday, June 9th. Wall Street Zen downgraded shares of Chord Energy from a “strong-buy” rating to a “buy” rating in a research report on Saturday, June 27th. Citigroup reduced their price objective on shares of Chord Energy from $155.00 to $130.00 and set a “neutral” rating for the company in a research note on Friday, July 10th. Finally, Truist Financial decreased their target price on shares of Chord Energy from $185.00 to $170.00 and set a “buy” rating for the company in a research report on Tuesday, July 7th. Eleven analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, Chord Energy presently has an average rating of “Moderate Buy” and an average price target of $152.38.

About Chord Energy

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.