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

Chord Energy Co. (NASDAQ:CHRD) was the target of a significant increase in short interest during the month of December. As of December 15th, there was short interest totalling 1,640,000 shares, an increase of 8.6% from the November 30th total of 1,510,000 shares. Based on an average daily trading volume, of 908,400 shares, the short-interest ratio is currently 1.8 days. Currently, 2.7% of the company’s stock are short sold.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on CHRD shares. Wells Fargo & Company upped their price objective on shares of Chord Energy from $175.00 to $176.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 17th. Siebert Williams Shank upgraded Chord Energy to a “strong-buy” rating in a research report on Tuesday, October 15th. BMO Capital Markets decreased their price target on shares of Chord Energy from $205.00 to $175.00 and set an “outperform” rating for the company in a research report on Friday, October 4th. UBS Group decreased their price target on Chord Energy from $168.00 to $161.00 and set a “buy” rating for the company in a report on Monday, December 9th. Finally, Royal Bank of Canada dropped their price target on shares of Chord Energy from $185.00 to $180.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 20th. Two investment 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 stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $182.55.

Chord Energy Price Performance

Shares of NASDAQ:CHRD opened at $116.92 on Thursday. The company’s fifty day moving average price is $123.19 and its 200-day moving average price is $141.30. 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 capitalization of $7.15 billion, a price-to-earnings ratio of 6.02, a PEG ratio of 4.79 and a beta of 0.96. Chord Energy has a one year low of $109.59 and a one year high of $190.23.

Chord Energy (NASDAQ:CHRD) last announced its quarterly earnings data on Wednesday, November 6th. The company reported $3.40 earnings per share for the quarter, missing analysts’ consensus estimates of $3.63 by ($0.23). Chord Energy had a return on equity of 12.88% and a net margin of 19.74%. The business had revenue of $1.12 billion during the quarter, compared to the consensus estimate of $1.26 billion. During the same quarter in the previous year, the firm posted $5.04 earnings per share. The company’s revenue was up 33.4% compared to the same quarter last year. On average, equities research analysts anticipate that Chord Energy will post 16.5 earnings per share for the current fiscal year.

Chord Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Wednesday, November 27th were issued a $1.25 dividend. This represents a $5.00 annualized dividend and a dividend yield of 4.28%. The ex-dividend date was Wednesday, November 27th. Chord Energy’s dividend payout ratio is 25.75%.

Insider Buying and Selling

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 owned by corporate insiders.

Institutional Investors Weigh In On Chord Energy

Several institutional investors have recently added to or reduced their stakes in CHRD. Hexagon Capital Partners LLC raised its position in Chord Energy by 462.9% during the 3rd quarter. Hexagon Capital Partners LLC now owns 197 shares of the company’s stock valued at $26,000 after purchasing an additional 162 shares during the last quarter. Stone House Investment Management LLC bought a new position in shares of Chord Energy during the third quarter valued at approximately $26,000. 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 worth $30,000 after acquiring an additional 101 shares during the period. Spartan Fund Management Inc. bought a new stake in Chord Energy in the third quarter valued at $34,000. Finally, Ashton Thomas Private Wealth LLC purchased a new position in Chord Energy during the 2nd quarter valued at $40,000. Hedge funds and other institutional investors own 97.76% of the company’s stock.

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.