Short Interest in Chord Energy Co. (NASDAQ:CHRD) Rises By 8.6%

Chord Energy Co. (NASDAQ:CHRD - Get Free Report) saw a large growth in short interest during the month of December. As of December 15th, there was short interest totalling 1,640,000 shares, a growth of 8.6% from the November 30th total of 1,510,000 shares. Approximately 2.7% of the company's stock are short sold. Based on an average daily volume of 908,400 shares, the days-to-cover ratio is currently 1.8 days.

Chord Energy Price Performance

Shares of Chord Energy stock traded up $3.04 during trading hours on Wednesday, hitting $116.92. The company's stock had a trading volume of 688,019 shares, compared to its average volume of 892,320. The company has a market cap of $7.15 billion, a PE ratio of 6.02, a PEG ratio of 4.79 and a beta of 0.96. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.89 and a current ratio of 0.93. The business has a 50 day moving average price of $123.19 and a two-hundred day moving average price of $141.30. Chord Energy has a 12-month low of $109.59 and a 12-month high of $190.23.

Chord Energy (NASDAQ:CHRD - Get Free Report) last announced its quarterly earnings data on Wednesday, November 6th. The company reported $3.40 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $3.63 by ($0.23). Chord Energy had a net margin of 19.74% and a return on equity of 12.88%. The company had revenue of $1.12 billion for the quarter, compared to analysts' expectations of $1.26 billion. During the same period last year, the business earned $5.04 earnings per share. The company's quarterly revenue was up 33.4% compared to the same quarter last year. Analysts expect that Chord Energy will post 16.5 earnings per share for the current fiscal year.

Chord Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Wednesday, November 27th were issued a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a dividend yield of 4.28%. The ex-dividend date of this dividend was Wednesday, November 27th. Chord Energy's dividend payout ratio (DPR) is presently 25.75%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on CHRD. Piper Sandler dropped their target price on Chord Energy from $212.00 to $194.00 and set an "overweight" rating on the stock in a research report on Tuesday, December 17th. Jefferies Financial Group started coverage on shares of Chord Energy in a research report on Thursday, September 5th. They set a "hold" rating and a $160.00 target price for the company. Siebert Williams Shank upgraded shares of Chord Energy to a "strong-buy" rating in a research report on Tuesday, October 15th. Royal Bank of Canada dropped their price target on shares of Chord Energy from $185.00 to $180.00 and set an "outperform" rating on the stock in a research note on Wednesday, November 20th. Finally, UBS Group reduced their price objective on Chord Energy from $168.00 to $161.00 and set a "buy" rating for the company in a research note on Monday, December 9th. Two investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Chord Energy has an average rating of "Moderate Buy" and a consensus price target of $182.55.

Insider Activity at Chord Energy

In other Chord Energy news, CAO Shannon Browning Kinney sold 1,000 shares of the business's stock in a transaction on Monday, December 16th. The shares were sold at an average price of $116.35, for a total transaction of $116,350.00. Following the completion of the sale, the chief accounting officer now directly owns 19,488 shares in the company, valued at approximately $2,267,428.80. The trade was a 4.88 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.70% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Chord Energy

Several large investors have recently made changes to their positions in the company. GAMMA Investing LLC raised its stake in Chord Energy by 30.6% during the third quarter. GAMMA Investing LLC now owns 414 shares of the company's stock valued at $54,000 after purchasing an additional 97 shares in the last quarter. Commerce Bank raised its position in shares of Chord Energy by 4.3% during the 3rd quarter. Commerce Bank now owns 2,361 shares of the company's stock valued at $307,000 after buying an additional 98 shares in the last quarter. New York State Teachers Retirement System raised its position in shares of Chord Energy by 0.4% during the 3rd quarter. New York State Teachers Retirement System now owns 27,274 shares of the company's stock valued at $3,552,000 after buying an additional 100 shares in the last quarter. UMB Bank n.a. lifted its holdings in shares of Chord Energy by 77.7% in the 3rd quarter. UMB Bank n.a. now owns 231 shares of the company's stock valued at $30,000 after acquiring an additional 101 shares during the last quarter. Finally, Lindenwold Advisors INC grew its position in Chord Energy by 5.0% in the third quarter. Lindenwold Advisors INC now owns 2,523 shares of the company's stock worth $329,000 after acquiring an additional 119 shares in the last quarter. 97.76% of the stock is owned by institutional investors.

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.

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