Phocas Financial Corp. Sells 27,216 Shares of Chord Energy Co. (NASDAQ:CHRD)

Phocas Financial Corp. reduced its stake in shares of Chord Energy Co. (NASDAQ:CHRD) by 83.5% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 5,368 shares of the company’s stock after selling 27,216 shares during the period. Phocas Financial Corp.’s holdings in Chord Energy were worth $628,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the stock. Stone House Investment Management LLC purchased a new stake in Chord Energy in the third quarter worth $26,000. Brooklyn Investment Group purchased a new stake in Chord Energy in the 4th quarter worth about $29,000. Fortitude Family Office LLC bought a new stake in Chord Energy in the 3rd quarter valued at about $47,000. R Squared Ltd purchased a new stake in Chord Energy during the fourth quarter valued at about $51,000. Finally, Venturi Wealth Management LLC boosted its position in Chord Energy by 1,751.9% during the fourth quarter. Venturi Wealth Management LLC now owns 500 shares of the company’s stock worth $58,000 after purchasing an additional 473 shares during the period. Hedge funds and other institutional investors own 97.76% of the company’s stock.

Chord Energy Price Performance

Shares of NASDAQ:CHRD opened at $108.56 on Wednesday. Chord Energy Co. has a one year low of $107.24 and a one year high of $190.23. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.93 and a quick ratio of 0.89. The firm 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 company’s fifty day moving average price is $116.27 and its 200-day moving average price is $127.25.

Insider Activity at Chord Energy

In other Chord Energy news, CAO Shannon Browning Kinney sold 1,000 shares of the stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $121.27, for a total transaction of $121,270.00. Following the transaction, the chief accounting officer now directly owns 20,488 shares in the company, valued at $2,484,579.76. This trade represents a 4.65 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.70% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

CHRD has been the topic of several research reports. Wolfe Research raised shares of Chord Energy from a “peer perform” rating to an “outperform” rating and set a $155.00 price target on the stock in a research report on Friday, January 3rd. Wells Fargo & Company lowered their target price on shares of Chord Energy from $176.00 to $175.00 and set an “overweight” rating on the stock in a report on Wednesday, January 15th. Piper Sandler cut their price target on Chord Energy from $194.00 to $193.00 and set an “overweight” rating for the company in a report on Wednesday, January 15th. Morgan Stanley started coverage on Chord Energy in a research note on Friday, January 10th. They set an “equal weight” rating and a $158.00 price objective on the stock. Finally, Bank of America reissued a “neutral” rating and set a $138.00 price objective (down previously from $208.00) on shares of Chord Energy in a report on Monday, January 13th. Three equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Chord Energy currently has an average rating of “Moderate Buy” and a consensus price target of $173.08.

Chord Energy Company Profile

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.