Sei Investments Co. Has $32.05 Million Holdings in Chord Energy Corporation $CHRD

Sei Investments Co. decreased its holdings in shares of Chord Energy Corporation (NASDAQ:CHRD) by 16.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 225,398 shares of the company’s stock after selling 44,869 shares during the quarter. Sei Investments Co. owned about 0.40% of Chord Energy worth $32,047,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of CHRD. Bessemer Group Inc. grew its holdings in Chord Energy by 63.8% during the 1st quarter. Bessemer Group Inc. now owns 190 shares of the company’s stock worth $27,000 after acquiring an additional 74 shares during the period. V Square Quantitative Management LLC acquired a new position in shares of Chord Energy in the 1st quarter valued at $29,000. WealthCollab LLC boosted its position in shares of Chord Energy by 90.6% in 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 shares of Chord Energy by 178.6% in the 1st quarter. Root Financial Partners LLC now owns 234 shares of the company’s stock worth $33,000 after purchasing an additional 150 shares during the last quarter. Finally, Rockefeller Capital Management L.P. boosted its position in shares of Chord Energy by 213.1% in the 4th quarter. Rockefeller Capital Management L.P. now owns 501 shares of the company’s stock worth $47,000 after purchasing an additional 341 shares during the last quarter. 97.76% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. Wells Fargo & Company upped their price objective on Chord Energy from $136.00 to $175.00 and gave the company an “overweight” rating in a report on Wednesday, April 8th. Truist Financial reduced their target price on Chord Energy from $185.00 to $170.00 and set a “buy” rating on the stock in a report on Tuesday, July 7th. Wall Street Zen lowered Chord Energy from a “strong-buy” rating to a “buy” rating in a research report on Saturday, June 27th. Morgan Stanley lowered their price target on Chord Energy from $175.00 to $169.00 and set an “overweight” rating for the company in a research note on Monday, June 29th. Finally, Mizuho increased their price target on shares of Chord Energy from $164.00 to $175.00 and gave the company an “outperform” rating in a research report on Wednesday, May 27th. Eleven research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $152.38.

Insider Transactions at Chord Energy

In related news, COO Darrin J. Henke sold 1,276 shares of the 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 represents a 5.69% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Douglas E. Brooks sold 1,500 shares of the stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $138.57, for a total value of $207,855.00. Following the sale, the director directly owned 18,705 shares of the company’s stock, valued at approximately $2,591,951.85. The trade was a 7.42% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 9,276 shares of company stock worth $1,285,968. 0.79% of the stock is currently owned by insiders.

Chord Energy Price Performance

CHRD opened at $131.80 on Tuesday. The company has a quick ratio of 0.96, a current ratio of 1.02 and a debt-to-equity ratio of 0.18. Chord Energy Corporation has a 12 month low of $84.25 and a 12 month high of $151.95. The company has a fifty day simple moving average of $129.02 and a 200 day simple moving average of $122.86. The stock has a market cap of $7.42 billion, a P/E ratio of -116.64 and a beta of 0.49.

Chord Energy (NASDAQ:CHRD) last issued its quarterly earnings data on Tuesday, May 5th. The company reported $4.56 EPS for the quarter, topping the consensus estimate of $3.51 by $1.05. The business had revenue of $1.67 billion for the quarter, compared to the consensus estimate of $1.21 billion. Chord Energy had a positive return on equity of 7.06% and a negative net margin of 1.25%.The firm’s revenue was up 37.1% compared to the same quarter last year. During the same quarter last year, the business posted $4.04 EPS. On average, research analysts expect that Chord Energy Corporation will post 18.32 EPS for the current year.

Chord Energy Announces Dividend

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

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.