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

Chord Energy Co. (NASDAQ:CHRD) was the recipient of a large drop in short interest in the month of September. As of September 15th, there was short interest totalling 2,510,000 shares, a drop of 10.7% from the August 31st total of 2,810,000 shares. Approximately 4.1% of the shares of the stock are sold short. Based on an average trading volume of 922,900 shares, the short-interest ratio is currently 2.7 days.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Citigroup decreased their target price on Chord Energy from $195.00 to $180.00 and set a “buy” rating for the company in a research note on Monday, August 12th. Piper Sandler lowered their price target on shares of Chord Energy from $234.00 to $206.00 and set an “overweight” rating on the stock in a report on Thursday, August 15th. Truist Financial reduced their target price on shares of Chord Energy from $226.00 to $223.00 and set a “buy” rating on the stock in a report on Monday, July 22nd. Bank of America lifted their price objective on Chord Energy from $201.00 to $208.00 and gave the stock a “buy” rating in a research report on Wednesday, August 21st. Finally, Wolfe Research began coverage on shares of Chord Energy in a report on Thursday, July 18th. They set a “peer perform” rating on the stock. Two research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $202.10.

Insiders Place Their Bets

In related news, Director Samantha Holroyd purchased 500 shares of Chord Energy stock in a transaction dated Friday, August 23rd. The shares were bought at an average cost of $149.51 per share, for a total transaction of $74,755.00. Following the purchase, the director now owns 14,417 shares in the company, valued at approximately $2,155,485.67. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.70% of the company’s stock.

Institutional Investors Weigh In On Chord Energy

A number of hedge funds and other institutional investors have recently modified their holdings of CHRD. Parallel Advisors LLC boosted its stake in Chord Energy by 26.3% during the 4th quarter. Parallel Advisors LLC now owns 1,200 shares of the company’s stock valued at $199,000 after purchasing an additional 250 shares during the period. Stifel Financial Corp boosted its position in shares of Chord Energy by 145.4% during the fourth quarter. Stifel Financial Corp now owns 55,913 shares of the company’s stock worth $9,294,000 after buying an additional 33,129 shares during the period. TFO Wealth Partners LLC grew its position in Chord Energy by 61,650.0% in the fourth quarter. TFO Wealth Partners LLC now owns 1,235 shares of the company’s stock valued at $205,000 after purchasing an additional 1,233 shares in the last quarter. Madison Asset Management LLC bought a new stake in shares of Chord Energy during the 4th quarter worth approximately $2,317,000. Finally, Eagle Asset Management Inc. grew its position in shares of Chord Energy by 17.0% in the 4th quarter. Eagle Asset Management Inc. now owns 160,711 shares of the company’s stock valued at $26,715,000 after acquiring an additional 23,375 shares during the period. 97.76% of the stock is currently owned by institutional investors.

Chord Energy Stock Up 2.7 %

CHRD traded up $3.39 on Friday, hitting $130.80. 888,565 shares of the company were exchanged, compared to its average volume of 893,889. The firm has a 50-day moving average price of $148.46 and a two-hundred day moving average price of $166.11. 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 has a twelve month low of $126.96 and a twelve month high of $190.23. The company has a market cap of $5.45 billion, a price-to-earnings ratio of 6.14, a price-to-earnings-growth ratio of 4.92 and a beta of 0.99.

Chord Energy (NASDAQ:CHRD) last posted its quarterly earnings results on Wednesday, August 7th. The company reported $4.69 earnings per share for the quarter, missing analysts’ consensus estimates of $5.00 by ($0.31). Chord Energy had a return on equity of 15.06% and a net margin of 20.83%. The company had revenue of $902.70 million for the quarter, compared to analyst estimates of $982.43 million. During the same period last year, the company earned $3.65 earnings per share. The business’s revenue for the quarter was up 29.8% compared to the same quarter last year. On average, equities analysts predict that Chord Energy will post 18.48 earnings per share for the current year.

Chord Energy Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 5th. Shareholders of record on Wednesday, August 21st were issued a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a yield of 3.82%. The ex-dividend date was Wednesday, August 21st. Chord Energy’s dividend payout ratio 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.