Short Interest in Chord Energy Co. (NASDAQ:CHRD) Rises By 5.2%

Chord Energy Co. (NASDAQ:CHRD) saw a large increase in short interest in the month of September. As of September 30th, there was short interest totalling 2,640,000 shares, an increase of 5.2% from the September 15th total of 2,510,000 shares. Based on an average daily volume of 777,700 shares, the days-to-cover ratio is presently 3.4 days. Approximately 4.3% of the shares of the company are short sold.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. UBS Group initiated coverage on Chord Energy in a report on Wednesday. They set a “buy” rating and a $168.00 price target on the stock. BMO Capital Markets lowered their price target on Chord Energy from $205.00 to $175.00 and set an “outperform” rating on the stock in a report on Friday, October 4th. Wolfe Research assumed coverage on Chord Energy in a report on Thursday, July 18th. They issued a “peer perform” rating on the stock. Bank of America increased their target price on Chord Energy from $201.00 to $208.00 and gave the stock a “buy” rating in a research note on Wednesday, August 21st. Finally, Citigroup decreased their target price on Chord Energy from $195.00 to $180.00 and set a “buy” rating for the company in a research report on Monday, August 12th. Two analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Chord Energy currently has an average rating of “Moderate Buy” and a consensus price target of $190.18.

Chord Energy Price Performance

Shares of CHRD traded down $0.84 during trading hours on Friday, reaching $129.74. The company had a trading volume of 16,254 shares, compared to its average volume of 880,303. The company has a market capitalization of $5.41 billion, a price-to-earnings ratio of 6.13, a PEG ratio of 4.92 and a beta of 0.97. Chord Energy has a 12-month low of $126.38 and a 12-month high of $190.23. The firm has a 50 day simple moving average of $139.44 and a 200-day simple moving average of $162.43. The company has a current ratio of 0.96, a quick ratio of 0.91 and a debt-to-equity ratio of 0.11.

Chord Energy (NASDAQ:CHRD) last released its quarterly earnings data on Wednesday, August 7th. The company reported $4.69 earnings per share for the quarter, missing the consensus estimate of $5.00 by ($0.31). The firm had revenue of $902.70 million during the quarter, compared to analysts’ expectations of $982.43 million. Chord Energy had a net margin of 20.83% and a return on equity of 15.06%. The business’s revenue for the quarter was up 29.8% on a year-over-year basis. During the same period in the previous year, the business earned $3.65 earnings per share. Research analysts expect that Chord Energy will post 17.93 earnings per share for the current year.

Chord Energy Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 5th. Stockholders of record on Wednesday, August 21st were paid a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a dividend yield of 3.85%. The ex-dividend date of this dividend was Wednesday, August 21st. Chord Energy’s dividend payout ratio is currently 23.46%.

Insider Activity at Chord Energy

In other Chord Energy news, Director Samantha Holroyd bought 500 shares of Chord Energy stock in a transaction that occurred on Friday, August 23rd. The stock was acquired at an average cost of $149.51 per share, for a total transaction of $74,755.00. Following the completion of the transaction, the director now directly owns 14,417 shares in the company, valued at $2,155,485.67. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. 0.70% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Chord Energy

Hedge funds have recently modified their holdings of the stock. Hexagon Capital Partners LLC boosted its holdings in Chord Energy by 462.9% in the third quarter. Hexagon Capital Partners LLC now owns 197 shares of the company’s stock valued at $26,000 after acquiring an additional 162 shares during the last quarter. UMB Bank n.a. lifted its position in Chord Energy by 77.7% during 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. Rise Advisors LLC purchased a new stake in shares of Chord Energy during the first quarter valued at approximately $31,000. Ashton Thomas Private Wealth LLC purchased a new position in Chord Energy in the 2nd quarter valued at about $40,000. Finally, Benjamin F. Edwards & Company Inc. lifted its stake in shares of Chord Energy by 125.9% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 244 shares of the company’s stock worth $41,000 after acquiring an additional 136 shares in the last quarter. 97.76% of the stock is owned by institutional investors and hedge funds.

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.