Chord Energy Co. (NASDAQ:CHRD) Short Interest Down 9.7% in July

Chord Energy Co. (NASDAQ:CHRD) was the target of a large decline in short interest in July. As of July 31st, there was short interest totalling 2,510,000 shares, a decline of 9.7% from the July 15th total of 2,780,000 shares. Based on an average trading volume of 1,250,000 shares, the days-to-cover ratio is currently 2.0 days. Currently, 3.8% of the shares of the stock are short sold.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Citigroup decreased their price target on Chord Energy from $195.00 to $180.00 and set a “buy” rating on the stock in a research note on Monday, August 12th. Wolfe Research assumed coverage on Chord Energy in a research note on Thursday, July 18th. They set a “peer perform” rating on the stock. Piper Sandler decreased their price target on Chord Energy from $234.00 to $206.00 and set an “overweight” rating on the stock in a research note on Thursday. Mizuho boosted their price target on Chord Energy from $195.00 to $214.00 and gave the stock a “buy” rating in a research note on Monday, May 13th. Finally, Royal Bank of Canada boosted their price target on Chord Energy from $180.00 to $200.00 and gave the stock an “outperform” rating in a research note on Monday, April 29th. One equities research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $206.00.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Rise Advisors LLC acquired a new position in Chord Energy in the 1st quarter valued at $31,000. Ashton Thomas Private Wealth LLC acquired a new position in Chord Energy in the 2nd quarter valued at $40,000. Benjamin F. Edwards & Company Inc. grew its stake in shares of Chord Energy by 125.9% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 244 shares of the company’s stock valued at $41,000 after buying an additional 136 shares during the period. SRS Capital Advisors Inc. grew its stake in shares of Chord Energy by 306.9% during the 4th quarter. SRS Capital Advisors Inc. now owns 293 shares of the company’s stock valued at $49,000 after buying an additional 221 shares during the period. Finally, Lindbrook Capital LLC grew its stake in shares of Chord Energy by 67.6% during the 4th quarter. Lindbrook Capital LLC now owns 305 shares of the company’s stock valued at $51,000 after buying an additional 123 shares during the period. 97.76% of the stock is currently owned by institutional investors and hedge funds.

Chord Energy Trading Down 0.8 %

Shares of Chord Energy stock opened at $153.10 on Monday. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.14 and a quick ratio of 1.07. Chord Energy has a 1 year low of $145.53 and a 1 year high of $190.23. The company has a market capitalization of $6.38 billion, a P/E ratio of 7.18, a P/E/G ratio of 0.92 and a beta of 1.01. The business has a 50 day moving average price of $166.38 and a 200 day moving average price of $170.37.

Chord Energy (NASDAQ:CHRD) last issued its quarterly earnings results on Wednesday, August 7th. The company reported $4.69 earnings per share for the quarter, missing the consensus estimate of $5.00 by ($0.31). The business had revenue of $902.70 million during the quarter, compared to analyst estimates of $982.43 million. Chord Energy had a net margin of 22.67% and a return on equity of 16.57%. The company’s revenue was up 29.8% on a year-over-year basis. During the same quarter last year, the firm posted $3.65 earnings per share. Sell-side analysts anticipate that Chord Energy will post 20.85 EPS for the current fiscal year.

Chord Energy Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 5th. Shareholders of record on Wednesday, August 21st will be issued a $1.25 dividend. The ex-dividend date of this dividend is Wednesday, August 21st. This represents a $5.00 annualized dividend and a yield of 3.27%. Chord Energy’s dividend payout ratio (DPR) is presently 23.46%.

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.