Edgestream Partners L.P. Sells 27,372 Shares of Chord Energy Corporation $CHRD

Edgestream Partners L.P. reduced its stake in shares of Chord Energy Corporation (NASDAQ:CHRD) by 83.9% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 5,247 shares of the company’s stock after selling 27,372 shares during the period. Edgestream Partners L.P.’s holdings in Chord Energy were worth $746,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of CHRD. Bessemer Group Inc. increased its position in shares of Chord Energy by 63.8% during the first quarter. Bessemer Group Inc. now owns 190 shares of the company’s stock worth $27,000 after acquiring an additional 74 shares in the last quarter. V Square Quantitative Management LLC bought a new stake in Chord Energy in the 1st quarter valued at $29,000. WealthCollab LLC lifted its position in Chord Energy by 90.6% in the 2nd quarter. WealthCollab LLC now owns 305 shares of the company’s stock valued at $30,000 after acquiring an additional 145 shares in the last quarter. Root Financial Partners LLC boosted its stake in 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 period. Finally, Rockefeller Capital Management L.P. boosted its stake in 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 period. Institutional investors own 97.76% of the company’s stock.

Wall Street Analyst Weigh In

CHRD has been the topic of several recent research reports. Citigroup dropped their price target on Chord Energy from $155.00 to $130.00 and set a “neutral” rating on the stock in a research note on Friday, July 10th. Williams Trading set a $189.00 price objective on Chord Energy in a research report on Monday, April 20th. Morgan Stanley decreased their price objective on Chord Energy from $175.00 to $169.00 and set an “overweight” rating for the company in a report on Monday, June 29th. Roth Capital reiterated a “buy” rating and set a $145.00 price objective on shares of Chord Energy in a report on Wednesday, July 15th. Finally, Zacks Research cut Chord Energy from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, June 9th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $152.38.

Insider Buying and Selling

In other Chord Energy news, Director Douglas E. Brooks sold 3,500 shares of the firm’s stock in a transaction on Friday, May 8th. The stock was sold at an average price of $136.71, for a total transaction of $478,485.00. Following the completion of the sale, the director owned 20,205 shares of the company’s stock, valued at $2,762,225.55. This trade represents a 14.76% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Darrin J. Henke sold 1,276 shares of the firm’s stock in a transaction on Friday, May 15th. The shares were sold at an average price of $145.97, for a total value of $186,257.72. Following the sale, the chief operating officer directly owned 21,157 shares of the company’s stock, valued at $3,088,287.29. This represents a 5.69% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 9,276 shares of company stock worth $1,285,968 over the last three months. 0.79% of the stock is owned by insiders.

Chord Energy Price Performance

Shares of NASDAQ CHRD opened at $136.89 on Wednesday. The company has a quick ratio of 0.96, a current ratio of 1.02 and a debt-to-equity ratio of 0.18. The business’s 50 day moving average price is $128.14 and its two-hundred day moving average price is $124.74. The company has a market cap of $7.71 billion, a PE ratio of -121.14 and a beta of 0.48. Chord Energy Corporation has a twelve month low of $84.25 and a twelve month high of $151.95.

Chord Energy (NASDAQ:CHRD) last released its quarterly earnings data on Tuesday, May 5th. The company reported $4.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 company had revenue of $1.67 billion during the quarter, compared to analysts’ expectations of $1.21 billion. During the same period last year, the firm posted $4.04 earnings per share. The business’s revenue was up 37.1% on a year-over-year basis. On average, analysts predict that Chord Energy Corporation will post 18.32 EPS for the current year.

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.