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

Chord Energy Co. (NASDAQ:CHRD) saw a large increase in short interest during the month of January. As of January 15th, there was short interest totalling 1,840,000 shares, an increase of 12.2% from the December 31st total of 1,640,000 shares. Based on an average trading volume of 876,200 shares, the days-to-cover ratio is currently 2.1 days. Currently, 3.1% of the company’s shares are short sold.

Chord Energy Price Performance

Shares of CHRD stock traded down $1.48 during midday trading on Monday, reaching $110.97. 1,357,767 shares of the company traded hands, compared to its average volume of 711,122. The firm’s 50 day simple moving average is $119.62 and its two-hundred day simple moving average is $133.21. Chord Energy has a 1-year low of $109.44 and a 1-year high of $190.23. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.93 and a quick ratio of 0.89. The firm has a market cap of $6.78 billion, a PE ratio of 5.71, a price-to-earnings-growth ratio of 5.67 and a beta of 0.98.

Chord Energy (NASDAQ:CHRD) last announced its quarterly earnings data on Wednesday, November 6th. The company reported $3.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.63 by ($0.23). The company had revenue of $1.12 billion for the quarter, compared to analysts’ expectations of $1.26 billion. Chord Energy had a net margin of 19.74% and a return on equity of 12.88%. The firm’s quarterly revenue was up 33.4% on a year-over-year basis. During the same period in the prior year, the firm earned $5.04 earnings per share. On average, equities research analysts expect that Chord Energy will post 15.59 EPS for the current fiscal year.

Chord Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Wednesday, November 27th were paid a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a yield of 4.51%. The ex-dividend date was Wednesday, November 27th. Chord Energy’s dividend payout ratio is presently 25.75%.

Insider Activity

In other Chord Energy news, CAO Shannon Browning Kinney sold 1,000 shares of the firm’s stock in a transaction on Monday, December 16th. The stock was 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 owns 19,488 shares of the company’s stock, valued at $2,267,428.80. This trade represents a 4.88 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.70% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Chord Energy

Several hedge funds have recently made changes to their positions in CHRD. Delta Capital Management LLC lifted its holdings in shares of Chord Energy by 4.3% during the 4th quarter. Delta Capital Management LLC now owns 2,200 shares of the company’s stock worth $257,000 after acquiring an additional 90 shares during the period. GAMMA Investing LLC grew its position in shares of Chord Energy by 30.6% during the 3rd quarter. GAMMA Investing LLC now owns 414 shares of the company’s stock worth $54,000 after buying an additional 97 shares during the period. Commerce Bank grew its holdings in Chord Energy by 4.3% during the third quarter. Commerce Bank now owns 2,361 shares of the company’s stock valued at $307,000 after purchasing an additional 98 shares during the period. New York State Teachers Retirement System lifted its stake in Chord Energy by 0.4% in the third 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. Finally, UMB Bank n.a. lifted its stake in Chord Energy by 77.7% in the third quarter. UMB Bank n.a. now owns 231 shares of the company’s stock valued at $30,000 after buying an additional 101 shares in the last quarter. Hedge funds and other institutional investors own 97.76% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. Piper Sandler reduced their price target on Chord Energy from $194.00 to $193.00 and set an “overweight” rating on the stock in a report on Wednesday, January 15th. Bank of America reissued a “neutral” rating and issued a $138.00 price target (down from $208.00) on shares of Chord Energy in a research report on Monday, January 13th. Truist Financial raised their target price on Chord Energy from $185.00 to $186.00 and gave the company a “buy” rating in a research report on Monday, January 13th. Siebert Williams Shank upgraded Chord Energy to a “strong-buy” rating in a research note on Tuesday, October 15th. Finally, UBS Group cut their target price 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. Three research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $173.08.

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.