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

by · The Cerbat Gem

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

Analyst Ratings Changes

A number of research firms recently weighed in on CHRD. Citigroup decreased their target price on Chord Energy from $195.00 to $180.00 and set a “buy” rating on the stock in a research report on Monday, August 12th. BMO Capital Markets decreased their price objective on Chord Energy from $205.00 to $175.00 and set an “outperform” rating on the stock in a report on Friday, October 4th. Truist Financial cut their target price on Chord Energy from $223.00 to $185.00 and set a “buy” rating for the company in a research note on Monday, September 30th. Royal Bank of Canada reiterated an “outperform” rating and set a $200.00 price target on shares of Chord Energy in a research note on Friday, September 20th. Finally, Wolfe Research initiated coverage on shares of Chord Energy in a report on Thursday, July 18th. They issued a “peer perform” rating on the stock. Two research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Chord Energy presently has a consensus rating of “Moderate Buy” and a consensus target price of $190.18.

View Our Latest Analysis on CHRD

Chord Energy Price Performance

Shares of CHRD traded up $2.23 during trading hours on Thursday, hitting $130.58. The stock had a trading volume of 741,746 shares, compared to its average volume of 884,623. Chord Energy has a 52 week low of $126.38 and a 52 week high of $190.23. The stock has a market capitalization of $5.44 billion, a price-to-earnings ratio of 6.13, a P/E/G ratio of 4.92 and a beta of 0.97. The company’s fifty day moving average is $139.85 and its two-hundred day moving average is $162.65. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.96 and a quick ratio of 0.91.

Chord Energy (NASDAQ:CHRD – Get Free Report) last issued 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). Chord Energy had a return on equity of 15.06% and a net margin of 20.83%. The firm had revenue of $902.70 million for the quarter, compared to the consensus estimate of $982.43 million. During the same period in the prior year, the company posted $3.65 earnings per share. Chord Energy’s quarterly revenue was up 29.8% compared to the same quarter last year. On average, analysts anticipate that Chord Energy will post 17.93 EPS for the current year.

Chord Energy Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 5th. Shareholders of record on Wednesday, August 21st were given a $1.25 dividend. The ex-dividend date was Wednesday, August 21st. This represents a $5.00 annualized dividend and a yield of 3.83%. Chord Energy’s payout ratio is 23.46%.

Insider Buying and Selling

In other Chord Energy news, Director Samantha Holroyd acquired 500 shares of Chord Energy stock in a transaction dated Friday, August 23rd. The stock was bought at an average cost of $149.51 per share, with a total value of $74,755.00. Following the completion of the transaction, the director now owns 14,417 shares of the company’s stock, valued at $2,155,485.67. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.70% of the stock is owned by insiders.

Hedge Funds Weigh In On Chord Energy

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Sumitomo Mitsui DS Asset Management Company Ltd raised its holdings in shares of Chord Energy by 2.7% in the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 5,464 shares of the company’s stock valued at $712,000 after buying an additional 145 shares during the last quarter. Redmont Wealth Advisors LLC acquired a new stake in Chord Energy in the 3rd quarter valued at about $467,000. Arkfeld Wealth Strategies L.L.C. bought a new position in shares of Chord Energy in the third quarter worth about $12,152,000. UMB Bank n.a. raised its stake in shares of 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 last quarter. Finally, Hexagon Capital Partners LLC lifted its position in shares of Chord Energy by 462.9% during the third quarter. Hexagon Capital Partners LLC now owns 197 shares of the company’s stock worth $26,000 after purchasing an additional 162 shares in the last quarter. Institutional investors and hedge funds own 97.76% of the company’s stock.

Chord Energy Company Profile

(Get Free Report)

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.

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