Advisors Asset Management Inc. Increases Position in Chord Energy Corporation $CHRD

Advisors Asset Management Inc. boosted its stake in shares of Chord Energy Corporation (NASDAQ:CHRD) by 9.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 82,865 shares of the company’s stock after buying an additional 7,255 shares during the quarter. Advisors Asset Management Inc.’s holdings in Chord Energy were worth $8,234,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently modified their holdings of CHRD. Massachusetts Financial Services Co. MA acquired a new stake in shares of Chord Energy in the 3rd quarter worth approximately $91,434,000. Orion Porfolio Solutions LLC increased its position in shares of Chord Energy by 6,714.2% in the second quarter. Orion Porfolio Solutions LLC now owns 709,086 shares of the company’s stock valued at $68,675,000 after buying an additional 698,680 shares in the last quarter. AQR Capital Management LLC raised its stake in shares of Chord Energy by 210.5% during the 2nd quarter. AQR Capital Management LLC now owns 734,225 shares of the company’s stock worth $71,110,000 after buying an additional 497,789 shares during the last quarter. Adage Capital Partners GP L.L.C. boosted its position in shares of Chord Energy by 22.2% in the 2nd quarter. Adage Capital Partners GP L.L.C. now owns 990,381 shares of the company’s stock worth $95,918,000 after buying an additional 180,000 shares in the last quarter. Finally, American Century Companies Inc. grew its stake in Chord Energy by 15.5% in the 2nd quarter. American Century Companies Inc. now owns 1,337,079 shares of the company’s stock valued at $129,496,000 after acquiring an additional 179,209 shares during the last quarter. 97.76% of the stock is currently owned by institutional investors and hedge funds.

Chord Energy Price Performance

CHRD stock opened at $104.16 on Thursday. The company has a market cap of $5.92 billion, a PE ratio of 40.06 and a beta of 0.92. The company has a current ratio of 1.35, a quick ratio of 1.28 and a debt-to-equity ratio of 0.18. The stock has a 50-day moving average price of $95.00 and a two-hundred day moving average price of $97.29. Chord Energy Corporation has a 12-month low of $79.83 and a 12-month high of $116.09.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on CHRD. Morgan Stanley cut their target price on shares of Chord Energy from $123.00 to $114.00 and set an “equal weight” rating for the company in a research report on Friday, January 23rd. Zacks Research downgraded Chord Energy from a “hold” rating to a “strong sell” rating in a research report on Tuesday, January 20th. Piper Sandler lowered their target price on Chord Energy from $160.00 to $151.00 and set an “overweight” rating on the stock in a report on Wednesday. Scotiabank reissued a “sector perform” rating and set a $114.00 price target on shares of Chord Energy in a research report on Friday, January 16th. Finally, Citigroup downgraded Chord Energy from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $105.00 to $97.00 in a research report on Wednesday, January 14th. Eight equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Chord Energy presently has a consensus rating of “Moderate Buy” and an average target price of $123.92.

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.