Envestnet Asset Management Inc. Has $8.17 Million Stock Holdings in Chord Energy Corporation $CHRD

Envestnet Asset Management Inc. trimmed its position in shares of Chord Energy Corporation (NASDAQ:CHRD) by 8.4% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 82,218 shares of the company’s stock after selling 7,514 shares during the quarter. Envestnet Asset Management Inc. owned 0.14% of Chord Energy worth $8,170,000 at the end of the most recent reporting period.

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

Chord Energy Stock Performance

Shares of CHRD stock opened at $104.99 on Friday. 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’s fifty day moving average price is $95.40 and its two-hundred day moving average price is $97.00. The firm has a market capitalization of $5.97 billion, a P/E ratio of 40.38 and a beta of 0.92. Chord Energy Corporation has a 12 month low of $79.83 and a 12 month high of $116.09.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. Wall Street Zen lowered shares of Chord Energy from a “hold” rating to a “sell” rating in a research note on Saturday, November 1st. Mizuho set a $148.00 target price on Chord Energy in a research report on Friday, January 9th. Pickering Energy Partners downgraded Chord Energy from an “outperform” rating to a “neutral” rating in a research note on Friday, January 9th. Zacks Research downgraded Chord Energy from a “hold” rating to a “strong sell” rating in a research note on Tuesday, January 20th. Finally, William Blair initiated coverage on Chord Energy in a report on Friday, November 21st. They set an “outperform” rating on the stock. Eight analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $123.92.

Chord Energy Company 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.