Short Interest in Chord Energy Co. (NASDAQ:CHRD) Rises By 12.0%

Chord Energy Co. (NASDAQ:CHRD) was the target of a significant increase in short interest in the month of August. As of August 31st, there was short interest totalling 2,810,000 shares, an increase of 12.0% from the August 15th total of 2,510,000 shares. Approximately 4.6% of the company’s stock are sold short. Based on an average daily trading volume, of 958,000 shares, the short-interest ratio is presently 2.9 days.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Bank of America increased their target price on shares of Chord Energy from $201.00 to $208.00 and gave the stock a “buy” rating in a research report on Wednesday, August 21st. BMO Capital Markets began coverage on Chord Energy in a research report on Monday, June 3rd. They set an “outperform” rating and a $230.00 price objective for the company. Piper Sandler lowered their price target on Chord Energy from $234.00 to $206.00 and set an “overweight” rating for the company in a research note on Thursday, August 15th. Wolfe Research initiated coverage on Chord Energy in a report on Thursday, July 18th. They issued a “peer perform” rating on the stock. Finally, Jefferies Financial Group started coverage on shares of Chord Energy in a research note on Thursday, September 5th. They issued a “hold” rating and a $160.00 target price for the company. Two analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $202.10.

Chord Energy Stock Up 1.9 %

Chord Energy stock opened at $136.93 on Wednesday. The firm has a market capitalization of $5.71 billion, a price-to-earnings ratio of 6.43, a PEG ratio of 4.48 and a beta of 0.99. The company’s 50 day simple moving average is $154.86 and its 200 day simple moving average is $167.75. 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 has a fifty-two week low of $129.75 and a fifty-two week high of $190.23.

Chord Energy (NASDAQ:CHRD) last announced its quarterly earnings results on Wednesday, August 7th. The company reported $4.69 earnings per share for the quarter, missing analysts’ consensus estimates of $5.00 by ($0.31). The firm had revenue of $902.70 million for the quarter, compared to the consensus estimate of $982.43 million. Chord Energy had a return on equity of 15.06% and a net margin of 20.83%. The company’s revenue for the quarter was up 29.8% compared to the same quarter last year. During the same period in the prior year, the business earned $3.65 earnings per share. As a group, sell-side analysts anticipate that Chord Energy will post 19.67 EPS for the current year.

Chord Energy Cuts Dividend

The company 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. The ex-dividend date was Wednesday, August 21st. This represents a $5.00 annualized dividend and a dividend yield of 3.65%. Chord Energy’s dividend payout ratio is presently 23.46%.

Insider Transactions at Chord Energy

In other Chord Energy news, Director Samantha Holroyd purchased 500 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The shares were purchased 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 acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.70% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of CHRD. Rise Advisors LLC bought a new stake in shares of Chord Energy in the first quarter valued at approximately $31,000. Ashton Thomas Private Wealth LLC bought a new stake in shares of Chord Energy during the 2nd quarter valued at $40,000. Benjamin F. Edwards & Company Inc. grew its holdings in shares of Chord Energy by 125.9% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 244 shares of the company’s stock worth $41,000 after purchasing an additional 136 shares in the last quarter. GAMMA Investing LLC increased its position in shares of Chord Energy by 151.6% in the second quarter. GAMMA Investing LLC now owns 317 shares of the company’s stock worth $53,000 after purchasing an additional 191 shares during the period. Finally, Atlas Capital Advisors LLC acquired a new position in Chord Energy in the second quarter valued at about $60,000. Institutional investors and hedge funds own 97.76% of the company’s stock.

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.