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

Chord Energy Co. (NASDAQ:CHRD) was the target of a significant growth in short interest in February. As of February 28th, there was short interest totalling 2,170,000 shares, a growth of 28.4% from the February 13th total of 1,690,000 shares. Based on an average trading volume of 873,600 shares, the short-interest ratio is currently 2.5 days. Currently, 3.7% of the company’s stock are short sold.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Royal Bank of Canada lowered their price target on Chord Energy from $185.00 to $180.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 20th. Bank of America reaffirmed a “neutral” rating and set a $138.00 price target (down from $208.00) on shares of Chord Energy in a research report on Monday, January 13th. Williams Trading set a $155.00 price target on Chord Energy in a report on Wednesday, March 5th. Mizuho dropped their price target on Chord Energy from $192.00 to $178.00 and set an “outperform” rating on the stock in a research note on Monday, December 16th. Finally, Wolfe Research raised shares of Chord Energy from a “peer perform” rating to an “outperform” rating and set a $155.00 price objective for the company in a research report on Friday, January 3rd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Chord Energy presently has an average rating of “Moderate Buy” and a consensus price target of $164.62.

Chord Energy Price Performance

Chord Energy stock opened at $107.58 on Monday. The stock has a fifty day moving average of $114.24 and a 200-day moving average of $123.16. The stock has a market capitalization of $6.42 billion, a P/E ratio of 5.55, a price-to-earnings-growth ratio of 5.83 and a beta of 0.98. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.89 and a current ratio of 0.93. Chord Energy has a 52 week low of $99.40 and a 52 week high of $190.23.

Chord Energy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 26th. Stockholders of record on Tuesday, March 11th will be paid a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.83%. This is a positive change from Chord Energy’s previous quarterly dividend of $1.25. The ex-dividend date is Tuesday, March 11th. Chord Energy’s dividend payout ratio (DPR) is presently 32.62%.

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 acquired a new stake in shares of Chord Energy during the fourth quarter worth $25,000. Stone House Investment Management LLC bought a new stake in Chord Energy during the third quarter valued at $26,000. Brooklyn Investment Group acquired a new stake in Chord Energy during the 4th quarter worth about $29,000. Twin Tree Management LP bought a new position in shares of Chord Energy in the 4th quarter worth about $33,000. Finally, Larson Financial Group LLC lifted its stake in shares of Chord Energy by 238.3% in the 4th quarter. Larson Financial Group LLC now owns 318 shares of the company’s stock valued at $37,000 after purchasing an additional 224 shares during the period. 97.76% of the stock is owned by 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.