Allianz Asset Management GmbH Buys 8,982 Shares of Chord Energy Corporation $CHRD

Allianz Asset Management GmbH boosted its stake in Chord Energy Corporation (NASDAQ:CHRD) by 18.9% in the third quarter, HoldingsChannel reports. The institutional investor owned 56,432 shares of the company’s stock after buying an additional 8,982 shares during the quarter. Allianz Asset Management GmbH’s holdings in Chord Energy were worth $5,608,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Bayforest Capital Ltd bought a new stake in shares of Chord Energy in the 2nd quarter worth $28,000. WealthCollab LLC boosted its holdings in Chord Energy by 90.6% during the second 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. Quent Capital LLC bought a new stake in Chord Energy in the 3rd quarter worth about $32,000. Mitsubishi UFJ Asset Management Co. Ltd. grew its position in Chord Energy by 91.2% in the 2nd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 411 shares of the company’s stock worth $40,000 after purchasing an additional 196 shares in the last quarter. Finally, Pilgrim Partners Asia Pte Ltd purchased a new stake in Chord Energy in the 3rd quarter valued at about $46,000. 97.76% of the stock is currently owned by institutional investors.

Chord Energy Stock Performance

NASDAQ CHRD opened at $100.43 on Wednesday. The firm has a market cap of $5.71 billion, a P/E ratio of 38.63 and a beta of 0.92. The company has a quick ratio of 1.28, a current ratio of 1.35 and a debt-to-equity ratio of 0.18. The company’s 50 day moving average is $94.83 and its 200-day moving average is $97.24. Chord Energy Corporation has a 12-month low of $79.83 and a 12-month high of $116.24.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. Zacks Research downgraded Chord Energy from a “hold” rating to a “strong sell” rating in a research note on Tuesday, January 20th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Chord Energy in a report on Wednesday, January 21st. Jefferies Financial Group set a $99.00 price objective on Chord Energy in a research report on Saturday, January 17th. William Blair began coverage on Chord Energy in a research report on Friday, November 21st. They set an “outperform” rating for the company. Finally, Morgan Stanley lowered their target price on Chord Energy from $123.00 to $114.00 and set an “equal weight” rating on the stock in a research note on Friday, January 23rd. Eight research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $124.67.

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.