Chord Energy Co. (NASDAQ:CHRD) Short Interest Update

Chord Energy Co. (NASDAQ:CHRD) was the target of a large increase in short interest during the month of December. As of December 15th, there was short interest totalling 1,640,000 shares, an increase of 8.6% from the November 30th total of 1,510,000 shares. Approximately 2.7% of the shares of the stock are short sold. Based on an average daily volume of 908,400 shares, the short-interest ratio is presently 1.8 days.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. Mizuho cut their price target on shares of Chord Energy from $192.00 to $178.00 and set an “outperform” rating for the company in a report on Monday, December 16th. Siebert Williams Shank raised shares of Chord Energy to a “strong-buy” rating in a research note on Tuesday, October 15th. Royal Bank of Canada cut their price target on shares of Chord Energy from $185.00 to $180.00 and set an “outperform” rating for the company in a report on Wednesday, November 20th. Wells Fargo & Company upped their target price on shares of Chord Energy from $175.00 to $176.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 17th. Finally, Piper Sandler reduced their price target on shares of Chord Energy from $212.00 to $194.00 and set an “overweight” rating for the company in a research report on Tuesday, December 17th. Two analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Chord Energy presently has a consensus rating of “Moderate Buy” and an average target price of $182.55.

Insider Activity

In other news, CAO Shannon Browning Kinney sold 1,000 shares of Chord Energy stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $116.35, for a total value of $116,350.00. Following the completion of the transaction, the chief accounting officer now owns 19,488 shares in the company, valued at approximately $2,267,428.80. This trade represents a 4.88 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.70% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Victory Capital Management Inc. increased its position in shares of Chord Energy by 41.3% during the third 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. Geode Capital Management LLC raised its stake in shares of Chord Energy by 3.0% in the 3rd quarter. Geode Capital Management LLC now owns 1,162,442 shares of the company’s stock valued at $151,077,000 after purchasing an additional 34,156 shares during the period. Bank of Montreal Can lifted its holdings in shares of Chord Energy by 956.5% in the second quarter. Bank of Montreal Can now owns 58,359 shares of the company’s stock valued at $9,873,000 after purchasing an additional 52,835 shares in the last quarter. Foundry Partners LLC grew its holdings in shares of Chord Energy by 22.7% during the third quarter. Foundry Partners LLC now owns 52,009 shares of the company’s stock worth $6,773,000 after buying an additional 9,613 shares in the last quarter. Finally, Caxton Associates LP bought a new position in shares of Chord Energy during the 2nd quarter worth approximately $2,515,000. 97.76% of the stock is currently owned by institutional investors.

Chord Energy Stock Performance

CHRD opened at $116.92 on Thursday. Chord Energy has a 12-month low of $109.59 and a 12-month high of $190.23. The stock’s 50 day moving average price is $123.19 and its two-hundred day moving average price is $141.30. The firm has a market capitalization of $7.15 billion, a P/E ratio of 6.02, a price-to-earnings-growth ratio of 4.79 and a beta of 0.96. The company has a quick ratio of 0.89, a current ratio of 0.93 and a debt-to-equity ratio of 0.10.

Chord Energy (NASDAQ:CHRD) last released its quarterly earnings data on Wednesday, November 6th. The company reported $3.40 earnings per share for the quarter, missing analysts’ consensus estimates of $3.63 by ($0.23). Chord Energy had a net margin of 19.74% and a return on equity of 12.88%. 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 revenue for the quarter was up 33.4% compared to the same quarter last year. On average, equities analysts forecast that Chord Energy will post 16.5 earnings per share for the current year.

Chord Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Wednesday, November 27th were given a $1.25 dividend. The ex-dividend date of this dividend was Wednesday, November 27th. This represents a $5.00 dividend on an annualized basis and a yield of 4.28%. Chord Energy’s payout ratio is 25.75%.

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.