Chord Energy Corporation (NASDAQ:CHRD) Short Interest Down 27.8% in April

Chord Energy Corporation (NASDAQ:CHRD) was the target of a significant decline in short interest in the month of April. As of April 15th, there was short interest totaling 2,895,184 shares, a decline of 27.8% from the March 31st total of 4,012,396 shares. Based on an average trading volume of 987,254 shares, the days-to-cover ratio is presently 2.9 days. Approximately 5.1% of the shares of the company are short sold.

Chord Energy Stock Down 0.4%

Shares of CHRD traded down $0.54 during mid-day trading on Friday, hitting $145.06. 688,252 shares of the company’s stock were exchanged, compared to its average volume of 998,646. The company has a market cap of $8.22 billion, a PE ratio of 230.25 and a beta of 0.66. Chord Energy has a 52 week low of $84.25 and a 52 week high of $148.41. The company has a 50-day simple moving average of $129.08 and a 200 day simple moving average of $106.02. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.06 and a quick ratio of 0.98.

Chord Energy (NASDAQ:CHRD) last issued its quarterly earnings results on Wednesday, February 25th. The company reported $1.28 earnings per share for the quarter, topping the consensus estimate of $1.17 by $0.11. Chord Energy had a net margin of 0.91% and a return on equity of 6.71%. The company had revenue of $1.17 billion during the quarter, compared to analysts’ expectations of $1.03 billion. During the same period last year, the business earned $3.49 EPS. The business’s quarterly revenue was down 19.6% on a year-over-year basis. On average, research analysts forecast that Chord Energy will post 16.94 earnings per share for the current fiscal year.

Chord Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 27th. Shareholders of record on Thursday, March 12th were issued a dividend of $1.30 per share. The ex-dividend date of this dividend was Thursday, March 12th. This represents a $5.20 annualized dividend and a yield of 3.6%. Chord Energy’s dividend payout ratio (DPR) is currently 825.40%.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. Mizuho set a $148.00 price objective on shares of Chord Energy in a research note on Friday, January 9th. Piper Sandler lifted their target price on shares of Chord Energy from $158.00 to $190.00 and gave the stock an “overweight” rating in a report on Thursday, March 12th. Wall Street Zen raised shares of Chord Energy from a “sell” rating to a “hold” rating in a report on Saturday, March 28th. Williams Trading set a $189.00 target price on shares of Chord Energy in a report on Monday, April 20th. Finally, Jefferies Financial Group set a $99.00 target price on shares of Chord Energy in a report on Saturday, January 17th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, Chord Energy presently has a consensus rating of “Moderate Buy” and a consensus price target of $152.23.

Insider Activity at Chord Energy

In other Chord Energy news, EVP Michael H. Lou sold 15,000 shares of the business’s stock in a transaction on Thursday, March 12th. The shares were sold at an average price of $125.47, for a total value of $1,882,050.00. Following the sale, the executive vice president owned 82,699 shares of the company’s stock, valued at $10,376,243.53. The trade was a 15.35% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Douglas E. Brooks sold 2,126 shares of the company’s stock in a transaction dated Friday, March 6th. The stock was sold at an average price of $120.28, for a total transaction of $255,715.28. Following the completion of the sale, the director directly owned 25,181 shares in the company, valued at approximately $3,028,770.68. The trade was a 7.79% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 23,927 shares of company stock worth $2,912,028. 0.79% of the stock is owned by insiders.

Institutional Investors Weigh In On Chord Energy

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Summit Securities Group LLC acquired a new stake in shares of Chord Energy during the first quarter worth $68,000. Elevated Capital Advisors LLC bought a new position in shares of Chord Energy in the first quarter worth $86,000. Waterfront Wealth Inc. bought a new position in shares of Chord Energy in the first quarter worth $1,049,000. Personal CFO Solutions LLC bought a new position in shares of Chord Energy in the first quarter worth $292,000. Finally, Greenwood Capital Associates LLC increased its position in shares of Chord Energy by 28.0% in the first quarter. Greenwood Capital Associates LLC now owns 4,422 shares of the company’s stock worth $629,000 after purchasing an additional 966 shares during the period. Institutional investors and hedge funds own 97.76% of the company’s stock.

About Chord Energy

Chord Energy Corporation (NASDAQ: CHRD), formerly known as Oasis Petroleum Inc, is an independent exploration and production company focused on the acquisition, development and production of crude oil, natural gas and natural gas liquids. Headquartered in Houston, Texas, Chord Energy emerged from financial restructuring in early 2021 and rebranded in October 2022 to reflect its renewed strategic vision.

The company’s core operations are concentrated in two prolific U.S. resource plays: the Williston Basin across North Dakota and Montana, and the Delaware Basin spanning parts of West Texas and southeastern New Mexico.