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

Chord Energy Co. (NASDAQ:CHRD) was the recipient of a large increase in short interest in March. As of March 31st, there was short interest totalling 3,480,000 shares, an increase of 8.4% from the March 15th total of 3,210,000 shares. Approximately 8.5% of the company’s stock are sold short. Based on an average trading volume of 684,700 shares, the short-interest ratio is currently 5.1 days.

Insider Buying and Selling

In related news, CFO Michael H. Lou sold 3,000 shares of the stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $165.00, for a total value of $495,000.00. Following the completion of the sale, the chief financial officer now directly owns 128,209 shares of the company’s stock, valued at approximately $21,154,485. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.70% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. raised its position in Chord Energy by 50.4% in the 1st quarter. BlackRock Inc. now owns 4,888,058 shares of the company’s stock valued at $657,933,000 after buying an additional 1,638,278 shares during the last quarter. Vanguard Group Inc. increased its position in Chord Energy by 0.5% during the 3rd quarter. Vanguard Group Inc. now owns 4,351,393 shares of the company’s stock worth $705,230,000 after buying an additional 21,034 shares during the period. FMR LLC increased its position in Chord Energy by 12.9% during the 3rd quarter. FMR LLC now owns 3,185,243 shares of the company’s stock worth $516,232,000 after buying an additional 364,673 shares during the period. Wellington Management Group LLP grew its holdings in shares of Chord Energy by 1.0% during the 3rd quarter. Wellington Management Group LLP now owns 2,671,474 shares of the company’s stock worth $432,966,000 after purchasing an additional 26,896 shares in the last quarter. Finally, State Street Corp grew its holdings in shares of Chord Energy by 22.5% during the 1st quarter. State Street Corp now owns 1,903,685 shares of the company’s stock worth $256,236,000 after purchasing an additional 349,592 shares in the last quarter. 97.76% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently issued reports on CHRD shares. Mizuho increased their price objective on Chord Energy from $189.00 to $195.00 and gave the stock a “buy” rating in a research note on Thursday, March 14th. Stifel Nicolaus upped their target price on Chord Energy from $178.00 to $211.00 and gave the stock a “buy” rating in a research report on Tuesday, February 27th. Piper Sandler upped their target price on Chord Energy from $218.00 to $219.00 and gave the stock an “overweight” rating in a research report on Thursday, March 7th. Truist Financial dropped their target price on Chord Energy from $229.00 to $224.00 and set a “buy” rating on the stock in a research report on Friday, April 5th. Finally, Bank of America lowered Chord Energy from a “buy” rating to an “underperform” rating and dropped their target price for the stock from $177.00 to $165.00 in a research report on Friday, January 5th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $190.40.

Chord Energy Price Performance

Shares of CHRD stock opened at $184.13 on Wednesday. Chord Energy has a 12 month low of $133.34 and a 12 month high of $190.23. The stock has a 50 day moving average of $169.08 and a two-hundred day moving average of $164.17. The company has a current ratio of 1.22, a quick ratio of 1.16 and a debt-to-equity ratio of 0.08. The company has a market capitalization of $7.65 billion, a P/E ratio of 7.83 and a beta of 1.06.

Chord Energy (NASDAQ:CHRD) last announced its quarterly earnings results on Wednesday, February 21st. The company reported $5.25 earnings per share for the quarter, beating analysts’ consensus estimates of $5.04 by $0.21. The business had revenue of $964.69 million for the quarter, compared to the consensus estimate of $891.67 million. Chord Energy had a net margin of 26.27% and a return on equity of 16.35%. As a group, equities analysts expect that Chord Energy will post 21.97 EPS for the current year.

Chord Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 19th. Investors of record on Tuesday, March 5th were paid a dividend of $3.25 per share. This represents a $13.00 annualized dividend and a yield of 7.06%. The ex-dividend date was Monday, March 4th. This is an increase from Chord Energy’s previous quarterly dividend of $1.25. Chord Energy’s dividend payout ratio (DPR) is presently 21.25%.

About Chord Energy

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.