Chord Energy Co. (NASDAQ:CHRD) Short Interest Up 28.4% in February

Chord Energy Co. (NASDAQ:CHRD - Get Free Report) saw a large growth in short interest in the month of February. As of February 28th, there was short interest totalling 2,170,000 shares, a growth of 28.4% from the February 13th total of 1,690,000 shares. Based on an average daily volume of 873,600 shares, the days-to-cover ratio is presently 2.5 days. Currently, 3.7% of the company's shares are short sold.

Hedge Funds Weigh In On Chord Energy

Hedge funds have recently bought and sold shares of the company. 111 Capital purchased a new stake in shares of Chord Energy in the fourth quarter valued at about $461,000. Ascent Group LLC lifted its position in shares of Chord Energy by 11.1% during the 4th quarter. Ascent Group LLC now owns 17,300 shares of the company's stock worth $2,023,000 after buying an additional 1,731 shares in the last quarter. GF Fund Management CO. LTD. purchased a new position in shares of Chord Energy in the 4th quarter worth approximately $2,197,000. GTS Securities LLC bought a new position in shares of Chord Energy in the fourth quarter valued at approximately $1,183,000. Finally, CSS LLC IL increased its position in shares of Chord Energy by 30.9% during the fourth quarter. CSS LLC IL now owns 21,157 shares of the company's stock valued at $2,474,000 after acquiring an additional 4,994 shares during the last quarter. 97.76% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Mizuho lowered their target price on Chord Energy from $192.00 to $178.00 and set an "outperform" rating for the company in a report on Monday, December 16th. Truist Financial raised their price objective on shares of Chord Energy from $185.00 to $186.00 and gave the stock a "buy" rating in a research report on Monday, January 13th. UBS Group dropped their target price on shares of Chord Energy from $168.00 to $161.00 and set a "buy" rating on the stock in a research report on Monday, December 9th. Piper Sandler reduced their price target on shares of Chord Energy from $193.00 to $184.00 and set an "overweight" rating for the company in a report on Thursday, March 6th. Finally, Bank of America reiterated a "neutral" rating and set a $138.00 price objective (down previously from $208.00) on shares of Chord Energy in a report on Monday, January 13th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $164.62.

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Chord Energy Stock Down 1.0 %

CHRD stock traded down $1.08 during mid-day trading on Friday, reaching $109.71. 3,167,903 shares of the company traded hands, compared to its average volume of 918,764. The stock has a market cap of $6.54 billion, a price-to-earnings ratio of 5.65, a P/E/G ratio of 5.83 and a beta of 0.98. Chord Energy has a fifty-two week low of $99.40 and a fifty-two week high of $190.23. The firm's 50 day moving average price is $113.21 and its 200 day moving average price is $122.43. 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 Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 26th. Investors of record on Tuesday, March 11th will be given a $1.30 dividend. This is a positive change from Chord Energy's previous quarterly dividend of $1.25. This represents a $5.20 dividend on an annualized basis and a yield of 4.74%. The ex-dividend date of this dividend is Tuesday, March 11th. Chord Energy's dividend payout ratio is presently 32.62%.

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.