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

Chord Energy Co. (NASDAQ:CHRD) saw a large increase in short interest in 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. Based on an average trading volume of 958,000 shares, the days-to-cover ratio is presently 2.9 days. Approximately 4.6% of the company’s shares are sold short.

Insider Buying and Selling at Chord Energy

In other news, Director Samantha Holroyd acquired 500 shares of the company’s stock in a transaction dated Friday, August 23rd. The stock was acquired at an average cost of $149.51 per share, for a total transaction of $74,755.00. Following the acquisition, the director now directly owns 14,417 shares in the company, valued at approximately $2,155,485.67. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.70% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Chord Energy

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Sanctuary Advisors LLC bought a new stake in shares of Chord Energy in the second quarter worth $788,000. Aristides Capital LLC purchased a new stake in Chord Energy in the 2nd quarter worth approximately $222,000. Cetera Investment Advisers grew its holdings in Chord Energy by 165.0% in the second quarter. Cetera Investment Advisers now owns 25,124 shares of the company’s stock worth $4,213,000 after purchasing an additional 15,645 shares during the period. KGH Ltd lifted its position in Chord Energy by 872.0% during the second quarter. KGH Ltd now owns 485,998 shares of the company’s stock valued at $81,492,000 after purchasing an additional 435,998 shares during the period. Finally, Creative Planning raised its position in shares of Chord Energy by 85.2% during the 2nd quarter. Creative Planning now owns 14,748 shares of the company’s stock valued at $2,473,000 after purchasing an additional 6,786 shares during the period. 97.76% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

CHRD has been the topic of a number of research analyst reports. Truist Financial lowered their price target on Chord Energy from $226.00 to $223.00 and set a “buy” rating on the stock in a report on Monday, July 22nd. BMO Capital Markets assumed coverage on shares of Chord Energy in a research report on Monday, June 3rd. They set an “outperform” rating and a $230.00 price target on the stock. 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 price target for the company. Wolfe Research initiated coverage on shares of Chord Energy in a research note on Thursday, July 18th. They set a “peer perform” rating on the stock. Finally, Citigroup dropped their target price 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 and nine have assigned a buy rating to the company. According to data from MarketBeat.com, Chord Energy currently has a consensus rating of “Moderate Buy” and an average price target of $202.10.

Chord Energy Price Performance

CHRD stock traded up $0.36 on Monday, hitting $134.41. 695,295 shares of the company’s stock traded hands, compared to its average volume of 890,493. The stock has a market cap of $5.60 billion, a price-to-earnings ratio of 6.32, a P/E/G ratio of 4.48 and a beta of 0.99. Chord Energy has a 1-year low of $129.75 and a 1-year high of $190.23. The company has a current ratio of 0.96, a quick ratio of 0.91 and a debt-to-equity ratio of 0.11. The stock has a fifty day moving average of $156.19 and a 200-day moving average of $168.14.

Chord Energy (NASDAQ:CHRD) last announced 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). The company had revenue of $902.70 million for the quarter, compared to analyst estimates of $982.43 million. Chord Energy had a net margin of 20.83% and a return on equity of 15.06%. Chord Energy’s revenue was up 29.8% on a year-over-year basis. During the same quarter last year, the company posted $3.65 EPS. On average, analysts forecast that Chord Energy will post 19.67 EPS for the current fiscal year.

Chord Energy Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 5th. Investors of record on Wednesday, August 21st were issued a dividend of $1.25 per share. The ex-dividend date was Wednesday, August 21st. This represents a $5.00 dividend on an annualized basis and a yield of 3.72%. Chord Energy’s dividend payout ratio is 23.46%.

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.