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

Chord Energy Co. (NASDAQ:CHRD) was the recipient of a large increase in short interest during the month of March. As of March 31st, there was short interest totalling 3,480,000 shares, an increase of 8.4% from the March 15th total of 3,210,000 shares. Based on an average daily trading volume, of 684,700 shares, the short-interest ratio is presently 5.1 days. Approximately 8.5% of the company’s stock are short sold.

Insider Transactions at Chord Energy

In other news, CFO Michael H. Lou sold 3,000 shares of Chord Energy stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $165.00, for a total value of $495,000.00. Following the transaction, the chief financial officer now owns 128,209 shares of the company’s stock, valued at approximately $21,154,485. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.70% of the company’s stock.

Institutional Investors Weigh In On Chord Energy

A number of hedge funds have recently modified their holdings of the company. DGS Capital Management LLC purchased a new stake in shares of Chord Energy in the first quarter valued at about $239,000. Tealwood Asset Management Inc. acquired a new position in Chord Energy in the first quarter valued at about $1,140,000. Rise Advisors LLC acquired a new position in Chord Energy in the first quarter valued at about $31,000. Insight Wealth Strategies LLC lifted its position in Chord Energy by 2.1% in the first quarter. Insight Wealth Strategies LLC now owns 11,491 shares of the company’s stock valued at $2,048,000 after buying an additional 231 shares during the last quarter. Finally, Kapitalo Investimentos Ltda acquired a new position in Chord Energy in the fourth quarter valued at about $633,000. Hedge funds and other institutional investors own 97.76% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the stock. Mizuho boosted their target price on shares of Chord Energy from $189.00 to $195.00 and gave the stock a “buy” rating in a research report on Thursday, March 14th. Bank of America cut shares of Chord Energy from a “buy” rating to an “underperform” rating and decreased their target price for the company from $177.00 to $165.00 in a research note on Friday, January 5th. Stifel Nicolaus boosted their price target on shares of Chord Energy from $178.00 to $211.00 and gave the stock a “buy” rating in a report on Tuesday, February 27th. Piper Sandler boosted their price target on shares of Chord Energy from $218.00 to $219.00 and gave the stock an “overweight” rating in a report on Thursday, March 7th. Finally, Truist Financial cut their price target on shares of Chord Energy from $229.00 to $224.00 and set a “buy” rating for the company in a report on Friday, April 5th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $190.40.

Chord Energy Price Performance

Chord Energy stock opened at $184.13 on Wednesday. Chord Energy has a 52-week low of $133.34 and a 52-week high of $190.23. The firm has a market capitalization of $7.65 billion, a price-to-earnings ratio of 7.83 and a beta of 1.06. The company has a fifty day simple moving average of $169.08 and a 200-day simple moving average of $164.17. The company has a quick ratio of 1.16, a current ratio of 1.22 and a debt-to-equity ratio of 0.08.

Chord Energy (NASDAQ:CHRD) last released its earnings results on Wednesday, February 21st. The company reported $5.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.04 by $0.21. Chord Energy had a net margin of 26.27% and a return on equity of 16.35%. The business had revenue of $964.69 million during the quarter, compared to analyst estimates of $891.67 million. On average, equities analysts anticipate that Chord Energy will post 21.97 EPS for the current fiscal year.

Chord Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 19th. Investors of record on Tuesday, March 5th were issued a $3.25 dividend. The ex-dividend date of this dividend was Monday, March 4th. This represents a $13.00 dividend on an annualized basis and a dividend yield of 7.06%. This is a positive change from Chord Energy’s previous quarterly dividend of $1.25. Chord Energy’s dividend payout ratio is currently 21.25%.

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.