Wedge Capital Management L L P NC Lowers Holdings in Chord Energy Corporation $CHRD

Wedge Capital Management L L P NC decreased its position in Chord Energy Corporation (NASDAQ:CHRD) by 14.9% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 105,194 shares of the company’s stock after selling 18,392 shares during the period. Wedge Capital Management L L P NC owned approximately 0.19% of Chord Energy worth $12,024,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of CHRD. Bessemer Group Inc. raised its holdings in Chord Energy by 63.8% in the first quarter. Bessemer Group Inc. now owns 190 shares of the company’s stock worth $27,000 after buying an additional 74 shares during the last quarter. Blue Trust Inc. lifted its stake in shares of Chord Energy by 22.2% in the first quarter. Blue Trust Inc. now owns 463 shares of the company’s stock worth $66,000 after buying an additional 84 shares in the last quarter. SBI Securities Co. Ltd. grew its holdings in shares of Chord Energy by 16.5% during the fourth quarter. SBI Securities Co. Ltd. now owns 797 shares of the company’s stock valued at $74,000 after buying an additional 113 shares during the last quarter. WealthCollab LLC grew its holdings in shares of Chord Energy by 90.6% during the second quarter. WealthCollab LLC now owns 305 shares of the company’s stock valued at $30,000 after buying an additional 145 shares during the last quarter. Finally, Root Financial Partners LLC raised its holdings 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 acquiring an additional 150 shares during the last quarter. 97.76% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Chord Energy

In other Chord Energy news, Director Douglas E. Brooks sold 8,000 shares of the stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $133.14, for a total value of $1,065,120.00. Following the transaction, the director directly owned 10,705 shares in the company, valued at approximately $1,425,263.70. This trade represents a 42.77% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Darrin J. Henke sold 1,276 shares of the business’s stock in a transaction on Friday, May 15th. The shares were sold at an average price of $145.97, for a total transaction of $186,257.72. Following the sale, the chief operating officer directly owned 21,157 shares of the company’s stock, valued at approximately $3,088,287.29. The trade was a 5.69% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 15,495 shares of company stock worth $2,113,942 in the last ninety days. Insiders own 0.79% of the company’s stock.

Chord Energy Trading Down 1.2%

NASDAQ:CHRD opened at $137.58 on Thursday. The company has a market cap of $7.53 billion, a PE ratio of 9.22 and a beta of 0.48. The company has a current ratio of 1.22, a quick ratio of 1.15 and a debt-to-equity ratio of 0.18. The company has a 50 day simple moving average of $128.00 and a two-hundred day simple moving average of $126.50. Chord Energy Corporation has a 12 month low of $84.25 and a 12 month high of $151.95.

Chord Energy (NASDAQ:CHRD) last released its quarterly earnings results on Wednesday, August 5th. The company reported $6.44 earnings per share for the quarter, missing the consensus estimate of $6.55 by ($0.11). The firm had revenue of $2.17 billion for the quarter, compared to the consensus estimate of $1.62 billion. Chord Energy had a net margin of 13.42% and a return on equity of 10.18%. Chord Energy’s quarterly revenue was up 128.6% compared to the same quarter last year. During the same period in the previous year, the company earned $1.79 earnings per share. Research analysts forecast that Chord Energy Corporation will post 18.03 earnings per share for the current year.

Chord Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 4th. Shareholders of record on Thursday, August 20th will be issued a $1.30 dividend. The ex-dividend date of this dividend is Thursday, August 20th. This represents a $5.20 dividend on an annualized basis and a yield of 3.8%. Chord Energy’s dividend payout ratio is currently 34.85%.

Analyst Ratings Changes

Several brokerages have commented on CHRD. Wall Street Zen downgraded Chord Energy from a “strong-buy” rating to a “buy” rating in a research note on Saturday, June 27th. Citigroup lowered their price target on Chord Energy from $155.00 to $130.00 and set a “neutral” rating on the stock in a report on Friday, July 10th. Zacks Research cut Chord Energy from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, June 9th. Williams Trading set a $189.00 price objective on Chord Energy in a report on Monday, April 20th. Finally, Mizuho raised Chord Energy to a “strong-buy” rating in a research report on Friday, July 31st. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, Chord Energy presently has an average rating of “Moderate Buy” and a consensus price target of $152.54.

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.