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

Pacer Advisors Inc. cut its position in shares of Chord Energy Corporation (NASDAQ:CHRD) by 60.0% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 227,964 shares of the company’s stock after selling 341,240 shares during the period. Pacer Advisors Inc. owned approximately 0.40% of Chord Energy worth $32,412,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Orion Porfolio Solutions LLC lifted its stake in Chord Energy by 6,714.2% in the second quarter. Orion Porfolio Solutions LLC now owns 709,086 shares of the company’s stock worth $68,675,000 after purchasing an additional 698,680 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Chord Energy by 85.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,218,167 shares of the company’s stock valued at $112,927,000 after buying an additional 561,899 shares during the last quarter. AQR Capital Management LLC grew its stake in shares of Chord Energy by 210.5% during the second quarter. AQR Capital Management LLC now owns 734,225 shares of the company’s stock valued at $71,110,000 after buying an additional 497,789 shares during the last quarter. Jennison Associates LLC bought a new position in shares of Chord Energy during the first quarter valued at approximately $60,190,000. Finally, First Trust Advisors LP raised its holdings in shares of Chord Energy by 98.2% in the first quarter. First Trust Advisors LP now owns 579,920 shares of the company’s stock worth $82,453,000 after buying an additional 287,340 shares during the period. 97.76% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Chord Energy

In related news, Director Douglas E. Brooks sold 1,500 shares of Chord Energy stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $138.57, for a total value of $207,855.00. Following the completion of the sale, the director directly owned 18,705 shares in the company, valued at $2,591,951.85. The trade was a 7.42% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, COO Darrin J. Henke sold 1,276 shares of the company’s stock in a transaction dated 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 ownership of the stock. 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 quarter. Company insiders own 0.79% of the company’s stock.

Chord Energy Stock Performance

Chord Energy stock opened at $139.33 on Tuesday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.96 and a current ratio of 1.02. The company has a market capitalization of $7.84 billion, a PE ratio of -123.30 and a beta of 0.48. The company has a 50 day moving average price of $128.16 and a 200-day moving average price of $124.44. Chord Energy Corporation has a fifty-two week low of $84.25 and a fifty-two week high of $151.95.

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

Analysts Set New Price Targets

A number of brokerages recently issued reports on CHRD. Roth Capital reissued a “buy” rating and set a $145.00 price target on shares of Chord Energy in a research note on Wednesday, July 15th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Chord Energy in a research note on Friday, June 12th. BMO Capital Markets reiterated an “outperform” rating on shares of Chord Energy in a research report on Monday, June 29th. Truist Financial decreased their target price on Chord Energy from $185.00 to $170.00 and set a “buy” rating for the company in a research report on Tuesday, July 7th. Finally, Scotiabank upped their price target on shares of Chord Energy from $114.00 to $135.00 and gave the stock a “sector perform” rating in a report on Wednesday, April 22nd. Eleven research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $152.38.

Chord Energy 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.