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

Chord Energy Co. (NASDAQ:CHRD) saw a significant decline in short interest in the month of January. As of January 31st, there was short interest totalling 1,390,000 shares, a decline of 14.2% from the January 15th total of 1,620,000 shares. Currently, 2.3% of the company’s shares are sold short. Based on an average daily trading volume, of 884,800 shares, the days-to-cover ratio is presently 1.6 days.

Analyst Ratings Changes

Several research analysts have commented on CHRD shares. Morgan Stanley started coverage on shares of Chord Energy in a research note on Friday, January 10th. They set an “equal weight” rating and a $158.00 price objective for the company. Truist Financial lifted their target price on Chord Energy from $185.00 to $186.00 and gave the stock a “buy” rating in a research report on Monday, January 13th. Wells Fargo & Company decreased their target price on Chord Energy from $176.00 to $175.00 and set an “overweight” rating for the company in a research report on Wednesday, January 15th. Mizuho decreased their target price on Chord Energy from $192.00 to $178.00 and set an “outperform” rating for the company in a research report on Monday, December 16th. Finally, Wolfe Research upgraded Chord Energy from a “peer perform” rating to an “outperform” rating and set a $155.00 target price for the company in a research report on Friday, January 3rd. Three research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $173.08.

Insiders Place Their Bets

In other Chord Energy news, CAO Shannon Browning Kinney sold 1,000 shares of Chord Energy stock in a transaction on Monday, December 16th. The shares were sold at an average price of $116.35, for a total transaction of $116,350.00. Following the completion of the transaction, the chief accounting officer now directly owns 19,488 shares of the company’s stock, valued at $2,267,428.80. The trade was a 4.88 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.70% of the stock is owned by insiders.

Hedge Funds Weigh In On Chord Energy

A number of large investors have recently added to or reduced their stakes in CHRD. Altshuler Shaham Ltd bought a new position in Chord Energy in the fourth quarter worth about $25,000. Stone House Investment Management LLC purchased a new stake in shares of Chord Energy during the third quarter worth about $26,000. Brooklyn Investment Group purchased a new stake in Chord Energy in the fourth quarter valued at approximately $29,000. Twin Tree Management LP purchased a new stake in Chord Energy in the fourth quarter valued at approximately $33,000. Finally, Spartan Fund Management Inc. acquired a new position in Chord Energy in the third quarter valued at approximately $34,000. 97.76% of the stock is currently owned by institutional investors.

Chord Energy Stock Up 0.7 %

Shares of CHRD stock traded up $0.74 on Friday, hitting $110.93. The stock had a trading volume of 641,472 shares, compared to its average volume of 721,197. The company has a quick ratio of 0.89, a current ratio of 0.93 and a debt-to-equity ratio of 0.10. The business has a 50 day moving average price of $117.12 and a 200 day moving average price of $129.64. The company has a market cap of $6.78 billion, a PE ratio of 5.71, a P/E/G ratio of 5.46 and a beta of 0.98. Chord Energy has a one year low of $107.24 and a one year high of $190.23.

Chord Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Wednesday, November 27th were issued a $1.25 dividend. The ex-dividend date of this dividend was Wednesday, November 27th. This represents a $5.00 dividend on an annualized basis and a yield of 4.51%. Chord Energy’s dividend payout ratio is presently 25.75%.

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.