Union Bancaire Privee UBP SA Takes Position in Chord Energy Co. (NASDAQ:CHRD)

Union Bancaire Privee UBP SA bought a new position in shares of Chord Energy Co. (NASDAQ:CHRD) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 672 shares of the company’s stock, valued at approximately $77,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Pacer Advisors Inc. raised its holdings in Chord Energy by 8,762.1% during the third quarter. Pacer Advisors Inc. now owns 1,245,034 shares of the company’s stock worth $162,141,000 after purchasing an additional 1,230,985 shares in the last quarter. Victory Capital Management Inc. raised its stake in Chord Energy by 41.3% during the 3rd quarter. Victory Capital Management Inc. now owns 2,245,435 shares of the company’s stock worth $292,423,000 after acquiring an additional 656,374 shares in the last quarter. Point72 Asset Management L.P. lifted its position in Chord Energy by 143.8% in the third quarter. Point72 Asset Management L.P. now owns 880,787 shares of the company’s stock valued at $114,705,000 after acquiring an additional 519,547 shares during the last quarter. Allspring Global Investments Holdings LLC increased its position in shares of Chord Energy by 30.1% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 744,309 shares of the company’s stock worth $88,459,000 after purchasing an additional 172,196 shares in the last quarter. Finally, Captrust Financial Advisors grew its position in shares of Chord Energy by 721.9% during the third quarter. Captrust Financial Advisors now owns 145,785 shares of the company’s stock worth $18,986,000 after acquiring an additional 128,047 shares during the last quarter. 97.76% of the stock is owned by institutional investors and hedge funds.

Chord Energy Stock Performance

Chord Energy stock opened at $108.56 on Wednesday. Chord Energy Co. has a fifty-two week low of $107.24 and a fifty-two week high of $190.23. The company has a market capitalization of $6.64 billion, a price-to-earnings ratio of 5.59, a PEG ratio of 5.83 and a beta of 0.98. The stock has a fifty day moving average of $116.27 and a two-hundred day moving average of $127.25. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.89 and a current ratio of 0.93.

Analysts Set New Price Targets

Several analysts have commented on the company. Royal Bank of Canada reduced their price objective on Chord Energy from $185.00 to $180.00 and set an “outperform” rating for the company in a research note on Wednesday, November 20th. Wolfe Research upgraded Chord Energy from a “peer perform” rating to an “outperform” rating and set a $155.00 price target for the company in a research note on Friday, January 3rd. Bank of America reaffirmed a “neutral” rating and set a $138.00 price target (down from $208.00) on shares of Chord Energy in a report on Monday, January 13th. Mizuho dropped their price objective on shares of Chord Energy from $192.00 to $178.00 and set an “outperform” rating on the stock in a research note on Monday, December 16th. Finally, Morgan Stanley initiated coverage on shares of Chord Energy in a research note on Friday, January 10th. They issued an “equal weight” rating and a $158.00 target price for the company. Three investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $173.08.

Insider Activity at Chord Energy

In related news, CAO Shannon Browning Kinney sold 1,000 shares of the company’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $116.35, for a total transaction of $116,350.00. Following the transaction, the chief accounting officer now owns 19,488 shares of the company’s stock, valued at approximately $2,267,428.80. This represents a 4.88 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 0.70% of the company’s stock.

About Chord Energy

Chord Energy Corporation operates as an independent exploration and production company in the United States. It acquires, explores, develops, and produces crude oil, natural gas, and natural gas liquids in the Williston Basin. The company sells its products to refiners, marketers, and other purchasers that have access to nearby pipeline and rail facilities.