Short Interest in Chord Energy Co. (NASDAQ:CHRD) Rises By 21.6%

Chord Energy Co. (NASDAQ:CHRD - Get Free Report) saw a large increase in short interest during the month of February. As of February 15th, there was short interest totalling 1,690,000 shares, an increase of 21.6% from the January 31st total of 1,390,000 shares. Based on an average trading volume of 879,900 shares, the short-interest ratio is presently 1.9 days. Approximately 2.8% of the shares of the stock are sold short.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on CHRD. Truist Financial boosted their target price on shares of Chord Energy from $185.00 to $186.00 and gave the stock a "buy" rating in a report on Monday, January 13th. Mizuho reduced their target price on shares of Chord Energy from $192.00 to $178.00 and set an "outperform" rating on the stock in a report on Monday, December 16th. Citigroup downgraded shares of Chord Energy to a "reduce" rating in a report on Wednesday, March 5th. Wells Fargo & Company reduced their target price on shares of Chord Energy from $176.00 to $175.00 and set an "overweight" rating on the stock in a report on Wednesday, January 15th. Finally, Morgan Stanley began coverage on shares of Chord Energy in a report on Friday, January 10th. They issued an "equal weight" rating and a $158.00 target price on the stock. One analyst has rated the stock with a sell rating, three have issued a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $164.62.

Remove Ads

Chord Energy Trading Up 0.4 %

Chord Energy stock traded up $0.41 during trading hours on Monday, hitting $104.04. The company had a trading volume of 1,173,784 shares, compared to its average volume of 867,737. The firm has a market cap of $6.20 billion, a P/E ratio of 5.36, a P/E/G ratio of 5.83 and a beta of 0.98. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.89 and a current ratio of 0.93. Chord Energy has a 1 year low of $99.40 and a 1 year high of $190.23. The company has a 50-day moving average price of $115.54 and a two-hundred day moving average price of $124.72.

Chord Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 26th. Shareholders of record on Tuesday, March 11th will be given a $1.30 dividend. This represents a $5.20 annualized dividend and a yield of 5.00%. This is a boost from Chord Energy's previous quarterly dividend of $1.25. The ex-dividend date of this dividend is Tuesday, March 11th. Chord Energy's payout ratio is 32.62%.

Insider Buying and Selling at Chord Energy

In other news, CAO Shannon Browning Kinney sold 1,000 shares of the business's stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $116.35, for a total value of $116,350.00. Following the sale, the chief accounting officer now directly owns 19,488 shares in the company, valued at $2,267,428.80. The trade was a 4.88 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.70% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Chord Energy

Large investors have recently added to or reduced their stakes in the stock. Stone House Investment Management LLC purchased a new stake in Chord Energy in the 3rd quarter valued at about $26,000. Altshuler Shaham Ltd purchased a new stake in Chord Energy in the 4th quarter valued at about $25,000. Brooklyn Investment Group bought a new stake in shares of Chord Energy in the 4th quarter valued at about $29,000. Twin Tree Management LP bought a new stake in shares of Chord Energy in the 4th quarter valued at about $33,000. Finally, Larson Financial Group LLC raised its holdings in shares of Chord Energy by 238.3% in the 4th quarter. Larson Financial Group LLC now owns 318 shares of the company's stock valued at $37,000 after purchasing an additional 224 shares in the last quarter. 97.76% of the stock is owned by hedge funds and other institutional investors.

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.