Wolverine Asset Management LLC Makes New $1.12 Million Investment in Chord Energy Co. (NASDAQ:CHRD)

Wolverine Asset Management LLC bought a new position in Chord Energy Co. (NASDAQ:CHRD - Free Report) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 8,632 shares of the company's stock, valued at approximately $1,124,000.

Other large investors have also recently added to or reduced their stakes in the company. Janney Montgomery Scott LLC raised its holdings in shares of Chord Energy by 7.9% in the first quarter. Janney Montgomery Scott LLC now owns 7,045 shares of the company's stock valued at $1,256,000 after purchasing an additional 514 shares during the last quarter. Envestnet Portfolio Solutions Inc. lifted its position in Chord Energy by 31.9% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 3,496 shares of the company's stock worth $623,000 after buying an additional 846 shares in the last quarter. SG Americas Securities LLC boosted its stake in shares of Chord Energy by 50.1% during the 1st quarter. SG Americas Securities LLC now owns 4,687 shares of the company's stock worth $835,000 after buying an additional 1,565 shares during the last quarter. Sei Investments Co. raised its holdings in Chord Energy by 24.0% during the first quarter. Sei Investments Co. now owns 144,166 shares of the company's stock worth $25,696,000 after acquiring an additional 27,903 shares in the last quarter. Finally, Russell Investments Group Ltd. boosted its position in Chord Energy by 2.8% during the first quarter. Russell Investments Group Ltd. now owns 36,811 shares of the company's stock valued at $6,561,000 after purchasing an additional 1,002 shares during the last quarter. Institutional investors own 97.76% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on CHRD shares. BMO Capital Markets lowered their price target on Chord Energy from $205.00 to $175.00 and set an "outperform" rating on the stock in a research report on Friday, October 4th. Bank of America boosted their target price on Chord Energy from $201.00 to $208.00 and gave the stock a "buy" rating in a report on Wednesday, August 21st. Royal Bank of Canada reaffirmed an "outperform" rating and set a $200.00 price target on shares of Chord Energy in a report on Friday, September 20th. Citigroup decreased their price objective on shares of Chord Energy from $195.00 to $180.00 and set a "buy" rating on the stock in a report on Monday, August 12th. Finally, UBS Group assumed coverage on shares of Chord Energy in a research note on Wednesday, October 16th. They set a "buy" rating and a $168.00 target price for the company. Two investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $190.18.

Chord Energy Trading Up 0.3 %

CHRD traded up $0.45 during trading on Wednesday, reaching $129.05. 699,844 shares of the company's stock were exchanged, compared to its average volume of 881,779. The firm has a fifty day moving average price of $131.48 and a two-hundred day moving average price of $155.01. The stock has a market capitalization of $7.89 billion, a PE ratio of 6.65, a price-to-earnings-growth ratio of 5.05 and a beta of 0.98. Chord Energy Co. has a one year low of $123.30 and a one year high of $190.23. The company has a current ratio of 0.93, a quick ratio of 0.89 and a debt-to-equity ratio of 0.10.

Chord Energy (NASDAQ:CHRD - Get Free Report) last released its quarterly earnings results on Wednesday, November 6th. The company reported $3.40 EPS for the quarter, missing analysts' consensus estimates of $3.63 by ($0.23). The company had revenue of $1.12 billion during the quarter, compared to the consensus estimate of $1.26 billion. Chord Energy had a net margin of 19.74% and a return on equity of 12.88%. The company's quarterly revenue was up 33.4% on a year-over-year basis. During the same quarter last year, the firm posted $5.04 EPS. As a group, equities research analysts forecast that Chord Energy Co. will post 16.87 earnings per share for the current fiscal year.

Chord Energy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Wednesday, November 27th will be issued a dividend of $1.25 per share. The ex-dividend date is Wednesday, November 27th. This represents a $5.00 dividend on an annualized basis and a yield of 3.87%. Chord Energy's payout ratio is currently 25.75%.

Insider Transactions at Chord Energy

In other Chord Energy news, Director Samantha Holroyd purchased 500 shares of the business's stock in a transaction on Friday, August 23rd. The shares were purchased at an average cost of $149.51 per share, for a total transaction of $74,755.00. Following the acquisition, the director now owns 14,417 shares of the company's stock, valued at approximately $2,155,485.67. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.70% of the company's stock.

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.