BI Asset Management Fondsmaeglerselskab A S Boosts Stock Position in Chord Energy Corporation $CHRD

BI Asset Management Fondsmaeglerselskab A S grew its holdings in Chord Energy Corporation (NASDAQ:CHRD) by 9,932.7% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 45,749 shares of the company’s stock after buying an additional 45,293 shares during the period. BI Asset Management Fondsmaeglerselskab A S owned approximately 0.08% of Chord Energy worth $4,546,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently modified their holdings of CHRD. First Citizens Bank & Trust Co. purchased a new stake in Chord Energy in the second quarter worth $502,000. Wedge Capital Management L L P NC bought a new position in shares of Chord Energy in the third quarter worth about $13,092,000. Westwood Holdings Group Inc. grew its holdings in shares of Chord Energy by 22.9% in the second quarter. Westwood Holdings Group Inc. now owns 214,680 shares of the company’s stock worth $20,792,000 after purchasing an additional 39,980 shares during the last quarter. Massachusetts Financial Services Co. MA purchased a new position in Chord Energy in the 3rd quarter worth about $91,434,000. Finally, AlphaQuest LLC lifted its holdings in Chord Energy by 1,576.7% during the 3rd quarter. AlphaQuest LLC now owns 27,933 shares of the company’s stock valued at $2,776,000 after buying an additional 26,267 shares in the last quarter. Institutional investors own 97.76% of the company’s stock.

Chord Energy Trading Up 4.5%

CHRD opened at $102.89 on Friday. 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 firm has a market cap of $5.85 billion, a price-to-earnings ratio of 39.57 and a beta of 0.92. Chord Energy Corporation has a 12 month low of $79.83 and a 12 month high of $116.24. The stock has a fifty day moving average price of $94.52 and a 200-day moving average price of $97.51.

Chord Energy (NASDAQ:CHRD) last posted its earnings results on Tuesday, November 4th. The company reported $2.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.24 by $0.11. The company had revenue of $1.31 billion for the quarter, compared to analyst estimates of $1.02 billion. Chord Energy had a return on equity of 8.27% and a net margin of 3.31%.The firm’s quarterly revenue was up 17.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.40 earnings per share. As a group, equities research analysts anticipate that Chord Energy Corporation will post 15.59 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on CHRD shares. Mizuho set a $148.00 target price on shares of Chord Energy in a research note on Friday, January 9th. Piper Sandler dropped their price objective on Chord Energy from $165.00 to $160.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 28th. Scotiabank reaffirmed a “sector perform” rating and set a $114.00 target price on shares of Chord Energy in a research report on Friday, January 16th. Wall Street Zen downgraded Chord Energy from a “hold” rating to a “sell” rating in a research report on Saturday, November 1st. Finally, UBS Group decreased their price objective on Chord Energy from $123.00 to $119.00 and set a “buy” rating for the company in a report on Friday, January 9th. Eight analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $124.67.

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.