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

Chord Energy Co. (NASDAQ:CHRD) saw a significant drop in short interest in the month of October. As of October 15th, there was short interest totalling 2,460,000 shares, a drop of 6.8% from the September 30th total of 2,640,000 shares. Based on an average daily trading volume, of 793,700 shares, the short-interest ratio is currently 3.1 days. Approximately 4.0% of the shares of the stock are short sold.

Wall Street Analyst Weigh In

CHRD has been the topic of a number of research analyst reports. UBS Group assumed coverage on Chord Energy in a report on Wednesday, October 16th. They set a “buy” rating and a $168.00 price target on the stock. Wells Fargo & Company cut their target price on Chord Energy from $185.00 to $180.00 and set an “overweight” rating for the company in a research report on Wednesday, October 16th. Truist Financial dropped their price target 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. Jefferies Financial Group assumed coverage on Chord Energy in a research note on Thursday, September 5th. They issued a “hold” rating and a $160.00 price objective for the company. Finally, Citigroup reduced their price target on Chord Energy from $195.00 to $180.00 and set a “buy” rating on the stock in a report on Monday, August 12th. Two equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $190.18.

Insider Activity at Chord Energy

In other news, Director Samantha Holroyd purchased 500 shares of the company’s stock in a transaction on Friday, August 23rd. The stock was purchased at an average price of $149.51 per share, with a total value of $74,755.00. Following the completion of the purchase, the director now directly owns 14,417 shares in the company, valued at approximately $2,155,485.67. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.70% of the stock is owned by corporate insiders.

Institutional Trading of Chord Energy

A number of large investors have recently modified their holdings of CHRD. Victory Capital Management Inc. increased its holdings in Chord Energy by 397.5% in the second quarter. Victory Capital Management Inc. now owns 1,589,061 shares of the company’s stock valued at $266,454,000 after buying an additional 1,269,658 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in Chord Energy by 72.0% in the second quarter. Dimensional Fund Advisors LP now owns 1,771,780 shares of the company’s stock valued at $297,090,000 after acquiring an additional 741,705 shares in the last quarter. Boston Partners boosted its stake in Chord Energy by 107.0% in the first quarter. Boston Partners now owns 1,305,942 shares of the company’s stock valued at $232,813,000 after acquiring an additional 674,965 shares in the last quarter. Millennium Management LLC boosted its stake in Chord Energy by 226.5% in the second quarter. Millennium Management LLC now owns 696,488 shares of the company’s stock valued at $116,787,000 after acquiring an additional 483,144 shares in the last quarter. Finally, KGH Ltd boosted its stake in shares of Chord Energy by 872.0% during the second quarter. KGH Ltd now owns 485,998 shares of the company’s stock worth $81,492,000 after buying an additional 435,998 shares during the period. Hedge funds and other institutional investors own 97.76% of the company’s stock.

Chord Energy Trading Down 1.0 %

Shares of Chord Energy stock opened at $123.80 on Friday. The stock has a market cap of $7.66 billion, a P/E ratio of 6.01, a P/E/G ratio of 4.90 and a beta of 0.97. The stock’s 50 day simple moving average is $134.69 and its 200-day simple moving average is $158.56. Chord Energy has a 1-year low of $123.30 and a 1-year high of $190.23. 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) last released its quarterly earnings data on Wednesday, August 7th. The company reported $4.69 EPS for the quarter, missing analysts’ consensus estimates of $5.00 by ($0.31). Chord Energy had a net margin of 20.83% and a return on equity of 15.06%. The business had revenue of $902.70 million during the quarter, compared to analyst estimates of $982.43 million. During the same quarter in the prior year, the company posted $3.65 earnings per share. The company’s revenue was up 29.8% on a year-over-year basis. Analysts predict that Chord Energy will post 17.07 EPS for the current fiscal year.

Chord Energy Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 5th. Stockholders of record on Wednesday, August 21st were given a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a dividend yield of 4.04%. The ex-dividend date was Wednesday, August 21st. Chord Energy’s dividend payout ratio is currently 24.27%.

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.