Verity Asset Management Inc. Takes $284,000 Position in Chord Energy Co. (NASDAQ:CHRD)

Verity Asset Management Inc. acquired a new stake in Chord Energy Co. (NASDAQ:CHRD) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 2,181 shares of the company’s stock, valued at approximately $284,000.

Other large investors also recently made changes to their positions in the company. Hexagon Capital Partners LLC increased its stake in shares of Chord Energy by 462.9% during the third quarter. Hexagon Capital Partners LLC now owns 197 shares of the company’s stock worth $26,000 after purchasing an additional 162 shares during the period. UMB Bank n.a. increased its stake in Chord Energy by 77.7% during the 3rd quarter. UMB Bank n.a. now owns 231 shares of the company’s stock worth $30,000 after acquiring an additional 101 shares during the period. Spartan Fund Management Inc. bought a new position in Chord Energy during the 3rd quarter worth $34,000. Ashton Thomas Private Wealth LLC bought a new position in Chord Energy during the 2nd quarter worth $40,000. Finally, Benjamin F. Edwards & Company Inc. increased its stake in Chord Energy by 125.9% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 244 shares of the company’s stock worth $41,000 after acquiring an additional 136 shares during the period. Institutional investors own 97.76% of the company’s stock.

Insider Transactions at Chord Energy

In other Chord Energy news, Director Samantha Holroyd acquired 500 shares of the stock in a transaction dated Friday, August 23rd. The stock was purchased at an average cost of $149.51 per share, with a total value of $74,755.00. Following the transaction, the director now owns 14,417 shares in the company, valued at approximately $2,155,485.67. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.70% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the company. Royal Bank of Canada restated an “outperform” rating and set a $200.00 price objective on shares of Chord Energy in a research note on Friday, September 20th. Piper Sandler raised their target price on Chord Energy from $206.00 to $211.00 and gave the company an “overweight” rating in a report on Tuesday, October 15th. Citigroup reduced their target price on Chord Energy from $195.00 to $180.00 and set a “buy” rating on the stock in a report on Monday, August 12th. Wolfe Research initiated coverage on Chord Energy in a report on Thursday, July 18th. They issued a “peer perform” rating on the stock. Finally, Siebert Williams Shank raised Chord Energy to a “strong-buy” rating in a report on Tuesday, October 15th. Two 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 data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $190.18.

Chord Energy Stock Down 0.6 %

Shares of CHRD opened at $132.01 on Friday. The company has a market capitalization of $8.17 billion, a PE ratio of 6.80, a PEG ratio of 5.12 and a beta of 0.98. Chord Energy Co. has a 12 month low of $123.30 and a 12 month high of $190.23. The stock’s 50-day moving average price is $132.26 and its two-hundred day moving average price is $156.35. The company has a current ratio of 0.96, a quick ratio of 0.91 and a debt-to-equity ratio of 0.11.

Chord Energy (NASDAQ:CHRD) last announced its earnings results on Wednesday, November 6th. The company reported $3.40 EPS for the quarter, missing the consensus estimate of $3.63 by ($0.23). Chord Energy had a return on equity of 14.12% and a net margin of 19.74%. The company had revenue of $1.12 billion for the quarter, compared to analyst estimates of $1.26 billion. During the same period in the previous year, the firm posted $5.04 earnings per share. The firm’s quarterly revenue was up 33.4% compared to the same quarter last year. On average, analysts anticipate that Chord Energy Co. will post 17.07 EPS for the current year.

Chord Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Wednesday, November 27th will be given a $1.25 dividend. This represents a $5.00 annualized dividend and a dividend yield of 3.79%. The ex-dividend date of this dividend is Wednesday, November 27th. Chord Energy’s dividend payout ratio (DPR) is presently 25.75%.

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.