Cibc World Market Inc. Sells 11,064 Shares of Chord Energy Corporation $CHRD

Cibc World Market Inc. reduced its stake in Chord Energy Corporation (NASDAQ:CHRD) by 79.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,809 shares of the company’s stock after selling 11,064 shares during the period. Cibc World Market Inc.’s holdings in Chord Energy were worth $279,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. First Citizens Bank & Trust Co. bought a new stake in shares of Chord Energy during the 2nd quarter valued at about $502,000. Massachusetts Financial Services Co. MA bought a new stake in Chord Energy in the 3rd quarter worth approximately $91,434,000. Wedge Capital Management L L P NC bought a new stake in Chord Energy in the 3rd quarter worth approximately $13,092,000. AlphaQuest LLC boosted its stake in Chord Energy by 1,576.7% in the third quarter. AlphaQuest LLC now owns 27,933 shares of the company’s stock worth $2,776,000 after buying an additional 26,267 shares in the last quarter. Finally, Westwood Holdings Group Inc. grew its position in Chord Energy by 22.9% during the second quarter. Westwood Holdings Group Inc. now owns 214,680 shares of the company’s stock valued at $20,792,000 after acquiring an additional 39,980 shares during the last quarter. 97.76% of the stock is currently owned by institutional investors and hedge funds.

Chord Energy Trading Up 2.8%

NASDAQ CHRD opened at $104.99 on Friday. The stock has a market cap of $5.97 billion, a P/E ratio of 40.38 and a beta of 0.92. Chord Energy Corporation has a fifty-two week low of $79.83 and a fifty-two week high of $116.09. The stock has a 50 day simple moving average of $95.40 and a two-hundred day simple moving average of $97.00. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.28 and a current ratio of 1.35.

Analysts Set New Price Targets

CHRD has been the subject of a number of recent research reports. Wall Street Zen lowered shares of Chord Energy from a “hold” rating to a “sell” rating in a report on Saturday, November 1st. Mizuho set a $148.00 target price on shares of Chord Energy in a research report on Friday, January 9th. Piper Sandler lowered their price target on shares of Chord Energy from $160.00 to $151.00 and set an “overweight” rating for the company in a research note on Wednesday, February 11th. Wells Fargo & Company reduced their price objective on Chord Energy from $113.00 to $109.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 27th. Finally, Scotiabank reiterated a “sector perform” rating and issued a $114.00 price objective on shares of Chord Energy in a report on Friday, January 16th. Eight investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target 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.