Chord Energy Co. (NASDAQ:CHRD) Short Interest Update

Chord Energy Co. (NASDAQ:CHRD) was the recipient of a significant drop in short interest in the month of January. As of January 31st, there was short interest totalling 1,390,000 shares, a drop of 14.2% from the January 15th total of 1,620,000 shares. Based on an average daily volume of 884,800 shares, the days-to-cover ratio is currently 1.6 days. Approximately 2.3% of the shares of the company are short sold.

Chord Energy Stock Performance

Shares of NASDAQ:CHRD traded up $0.74 during mid-day trading on Friday, reaching $110.93. 641,472 shares of the company traded hands, compared to its average volume of 721,197. The company’s 50 day moving average price is $117.12 and its 200-day moving average price is $129.64. The firm has a market cap of $6.78 billion, a PE ratio of 5.71, a PEG ratio of 5.46 and a beta of 0.98. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.93 and a quick ratio of 0.89. Chord Energy has a 52 week low of $107.24 and a 52 week high of $190.23.

Chord Energy Dividend Announcement

The business also recently disclosed 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. The ex-dividend date was Wednesday, November 27th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 4.51%. Chord Energy’s dividend payout ratio (DPR) is presently 25.75%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Truist Financial raised their price objective on shares of Chord Energy from $185.00 to $186.00 and gave the company a “buy” rating in a research report on Monday, January 13th. Morgan Stanley assumed coverage on shares of Chord Energy in a research note on Friday, January 10th. They issued an “equal weight” rating and a $158.00 target price on the stock. Bank of America reaffirmed a “neutral” rating and issued a $138.00 target price (down from $208.00) on shares of Chord Energy in a research note on Monday, January 13th. Royal Bank of Canada lowered their target price 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, Mizuho lowered their target price on shares of Chord Energy from $192.00 to $178.00 and set an “outperform” rating on the stock in a research note on Monday, December 16th. Three analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $173.08.

Insiders Place Their Bets

In other news, CAO Shannon Browning Kinney sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $116.35, for a total value of $116,350.00. Following the completion of the transaction, the chief accounting officer now directly owns 19,488 shares in the company, valued at approximately $2,267,428.80. This trade represents a 4.88 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.70% of the company’s stock.

Institutional Investors Weigh In On Chord Energy

A number of institutional investors have recently added to or reduced their stakes in CHRD. Altshuler Shaham Ltd purchased a new stake in Chord Energy during the 4th quarter valued at approximately $25,000. Stone House Investment Management LLC purchased a new stake in Chord Energy during the 3rd quarter valued at approximately $26,000. Brooklyn Investment Group purchased a new stake in Chord Energy during the 4th quarter valued at approximately $29,000. Twin Tree Management LP purchased a new stake in Chord Energy during the 4th quarter valued at approximately $33,000. Finally, Spartan Fund Management Inc. purchased a new stake in Chord Energy during the 3rd quarter valued at approximately $34,000. 97.76% of the stock is owned by hedge funds and other 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.