Chord Energy Corporation $CHRD Stock Holdings Decreased by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. decreased its stake in shares of Chord Energy Corporation (NASDAQ:CHRD) by 8.4% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 82,218 shares of the company’s stock after selling 7,514 shares during the period. Envestnet Asset Management Inc.’s holdings in Chord Energy were worth $8,170,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of the company. Geode Capital Management LLC lifted its holdings in Chord Energy by 1.0% during the 2nd quarter. Geode Capital Management LLC now owns 1,890,420 shares of the company’s stock worth $183,112,000 after buying an additional 19,227 shares during the last quarter. American Century Companies Inc. increased its holdings in shares of 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. Sourcerock Group LLC raised its position in shares of Chord Energy by 2.1% during the 2nd quarter. Sourcerock Group LLC now owns 1,031,973 shares of the company’s stock valued at $99,947,000 after acquiring an additional 20,916 shares in the last quarter. Adage Capital Partners GP L.L.C. lifted its stake in Chord Energy by 22.2% during the second quarter. Adage Capital Partners GP L.L.C. now owns 990,381 shares of the company’s stock worth $95,918,000 after purchasing an additional 180,000 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA acquired a new position in Chord Energy in the third quarter worth $91,434,000. 97.76% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. William Blair started coverage on shares of Chord Energy in a report on Friday, November 21st. They set an “outperform” rating on the stock. Jefferies Financial Group set a $99.00 price objective on shares of Chord Energy in a research report on Saturday, January 17th. Wall Street Zen lowered shares of Chord Energy from a “hold” rating to a “sell” rating in a research note on Saturday, November 1st. Morgan Stanley decreased their target price on Chord Energy from $123.00 to $114.00 and set an “equal weight” rating for the company in a research note on Friday, January 23rd. Finally, Royal Bank Of Canada dropped their price target on Chord Energy from $135.00 to $128.00 and set an “outperform” rating on the stock in a research report on Tuesday, January 13th. Eight research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $123.92.

Chord Energy Stock Performance

Shares of NASDAQ CHRD opened at $104.99 on Friday. Chord Energy Corporation has a 52-week low of $79.83 and a 52-week high of $116.09. The stock has a market capitalization of $5.97 billion, a price-to-earnings ratio of 40.38 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 stock’s fifty day simple moving average is $95.40 and its 200 day simple moving average is $97.00.

About Chord Energy

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.