Chord Energy Co. (NASDAQ:CHRD) Sees Significant Growth in Short Interest

Chord Energy Co. (NASDAQ:CHRDGet Free Report) saw a significant increase in short interest during the month of February. As of February 29th, there was short interest totalling 2,400,000 shares, an increase of 26.3% from the February 14th total of 1,900,000 shares. Currently, 5.9% of the shares of the company are sold short. Based on an average daily volume of 579,500 shares, the days-to-cover ratio is presently 4.1 days.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on CHRD shares. Royal Bank of Canada reaffirmed an “outperform” rating and set a $180.00 price objective on shares of Chord Energy in a report on Tuesday, November 21st. Stifel Nicolaus lifted their price objective on Chord Energy from $178.00 to $211.00 and gave the company a “buy” rating in a report on Tuesday, February 27th. Mizuho lifted their target price on shares of Chord Energy from $188.00 to $189.00 and gave the company a “buy” rating in a research note on Thursday, February 22nd. Truist Financial lifted their target price on shares of Chord Energy from $224.00 to $229.00 and gave the company a “buy” rating in a research note on Thursday, February 22nd. Finally, Bank of America cut shares of Chord Energy from a “buy” rating to an “underperform” rating and cut their target price for the company from $177.00 to $165.00 in a research note on Friday, January 5th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $190.30.

Get Our Latest Stock Report on Chord Energy

Insider Activity

In other news, CFO Michael H. Lou sold 3,000 shares of the firm’s stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $154.15, for a total value of $462,450.00. Following the sale, the chief financial officer now directly owns 131,209 shares of the company’s stock, valued at $20,225,867.35. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, CFO Michael H. Lou sold 6,000 shares of Chord Energy stock in a transaction dated Thursday, January 4th. The stock was sold at an average price of $169.80, for a total transaction of $1,018,800.00. Following the sale, the chief financial officer now directly owns 170,835 shares of the company’s stock, valued at $29,007,783. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Michael H. Lou sold 3,000 shares of Chord Energy stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $154.15, for a total value of $462,450.00. Following the sale, the chief financial officer now directly owns 131,209 shares in the company, valued at $20,225,867.35. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 12,000 shares of company stock valued at $1,976,250. 0.52% of the stock is owned by insiders.

Institutional Trading of Chord Energy

Several institutional investors and hedge funds have recently made changes to their positions in the business. Price T Rowe Associates Inc. MD raised its position in shares of Chord Energy by 4.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 23,436 shares of the company’s stock valued at $3,896,000 after acquiring an additional 1,098 shares during the last quarter. Barclays PLC grew its holdings in shares of Chord Energy by 140.9% in the 4th quarter. Barclays PLC now owns 100,875 shares of the company’s stock valued at $16,768,000 after buying an additional 59,000 shares during the period. Perpetual Ltd acquired a new position in shares of Chord Energy in the 4th quarter valued at $455,000. Vident Advisory LLC grew its holdings in shares of Chord Energy by 66.1% in the 4th quarter. Vident Advisory LLC now owns 4,769 shares of the company’s stock valued at $793,000 after buying an additional 1,897 shares during the period. Finally, Weiss Multi Strategy Advisers LLC acquired a new position in shares of Chord Energy in the 4th quarter valued at $3,432,000. Institutional investors own 97.76% of the company’s stock.

Chord Energy Stock Performance

CHRD stock opened at $165.95 on Friday. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.22 and a quick ratio of 1.16. The company has a 50 day moving average price of $158.30 and a 200 day moving average price of $161.31. Chord Energy has a fifty-two week low of $117.05 and a fifty-two week high of $175.20. The stock has a market capitalization of $6.88 billion, a PE ratio of 7.05 and a beta of 1.05.

Chord Energy (NASDAQ:CHRDGet Free Report) last posted its quarterly earnings data on Wednesday, February 21st. The company reported $5.25 earnings per share for the quarter, topping the consensus estimate of $5.04 by $0.21. The firm had revenue of $964.69 million during the quarter, compared to analysts’ expectations of $891.67 million. Chord Energy had a net margin of 26.27% and a return on equity of 16.35%. Analysts forecast that Chord Energy will post 20.25 EPS for the current year.

Chord Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 19th. Shareholders of record on Tuesday, March 5th will be given a dividend of $3.25 per share. This is a boost from Chord Energy’s previous quarterly dividend of $1.25. The ex-dividend date of this dividend is Monday, March 4th. This represents a $13.00 annualized dividend and a dividend yield of 7.83%. Chord Energy’s payout ratio is presently 21.25%.

Chord Energy Company Profile

(Get Free Report)

Chord Energy Corporation operates as an independent exploration and production company. It acquires, exploits, develops, and explores for crude oil, natural gas, and natural gas liquids in the Williston Basin. Chord Energy Corporation was founded in 2007 and is headquartered in Houston, Texas.

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