Allianz Asset Management GmbH Has $5.61 Million Stake in Chord Energy Corporation $CHRD

Allianz Asset Management GmbH raised its stake in shares of Chord Energy Corporation (NASDAQ:CHRD) by 18.9% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 56,432 shares of the company’s stock after purchasing an additional 8,982 shares during the period. Allianz Asset Management GmbH owned 0.10% of Chord Energy worth $5,608,000 at the end of the most recent quarter.

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

Chord Energy Stock Down 1.9%

Shares of NASDAQ CHRD opened at $100.43 on Wednesday. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.35 and a quick ratio of 1.28. The company has a 50-day moving average price of $94.83 and a 200-day moving average price of $97.24. The stock has a market capitalization of $5.71 billion, a P/E ratio of 38.63 and a beta of 0.92. Chord Energy Corporation has a 1 year low of $79.83 and a 1 year high of $116.24.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Zacks Research lowered shares of Chord Energy from a “hold” rating to a “strong sell” rating in a research note on Tuesday, January 20th. UBS Group reduced their price target on shares of Chord Energy from $123.00 to $119.00 and set a “buy” rating for the company in a report on Friday, January 9th. Mizuho set a $148.00 price objective on shares of Chord Energy in a report on Friday, January 9th. Jefferies Financial Group set a $99.00 target price on Chord Energy in a research note on Saturday, January 17th. Finally, William Blair started coverage on Chord Energy in a research report on Friday, November 21st. They issued an “outperform” rating for the company. Eight equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Chord Energy has a consensus rating of “Moderate Buy” and a consensus price target of $124.67.

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.