Short Interest in Chord Energy Co. (NASDAQ:CHRD) Rises By 5.2%

Chord Energy Co. (NASDAQ:CHRD) was the recipient of a significant growth in short interest in September. As of September 30th, there was short interest totalling 2,640,000 shares, a growth of 5.2% from the September 15th total of 2,510,000 shares. Currently, 4.3% of the company’s stock are sold short. Based on an average daily trading volume, of 777,700 shares, the days-to-cover ratio is presently 3.4 days.

Chord Energy Trading Down 0.6 %

Shares of CHRD traded down $0.84 during midday trading on Friday, hitting $129.74. The stock had a trading volume of 16,254 shares, compared to its average volume of 880,303. Chord Energy has a fifty-two week low of $126.38 and a fifty-two week high of $190.23. The business has a 50-day simple moving average of $139.44 and a two-hundred day simple moving average of $162.43. 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 firm has a market cap of $5.41 billion, a P/E ratio of 6.13, a price-to-earnings-growth ratio of 4.92 and a beta of 0.97.

Chord Energy (NASDAQ:CHRD) last posted its quarterly earnings data on Wednesday, August 7th. The company reported $4.69 earnings per share for the quarter, missing the consensus estimate of $5.00 by ($0.31). The firm had revenue of $902.70 million for the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.65 earnings per share. As a group, equities analysts forecast that Chord Energy will post 17.93 EPS for the current year.

Chord Energy Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 5th. Investors of record on Wednesday, August 21st were given 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 3.85%. Chord Energy’s payout ratio is 23.46%.

Insider Buying and Selling at Chord Energy

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Blue Trust Inc. lifted its holdings in shares of Chord Energy by 101.8% during the third quarter. Blue Trust Inc. now owns 3,206 shares of the company’s stock worth $418,000 after buying an additional 1,617 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd increased its position in Chord Energy by 2.7% during the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 5,464 shares of the company’s stock worth $712,000 after acquiring an additional 145 shares during the period. Redmont Wealth Advisors LLC acquired a new position in Chord Energy during the 3rd quarter valued at $467,000. Arkfeld Wealth Strategies L.L.C. bought a new stake in Chord Energy in the 3rd quarter valued at $12,152,000. Finally, UMB Bank n.a. grew its position in Chord Energy by 77.7% in the 3rd quarter. UMB Bank n.a. now owns 231 shares of the company’s stock worth $30,000 after purchasing an additional 101 shares during the last quarter. Hedge funds and other institutional investors own 97.76% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently weighed in on CHRD. Piper Sandler lifted their price objective on shares of Chord Energy from $206.00 to $211.00 and gave the company an “overweight” rating in a research report on Tuesday. Bank of America boosted their price objective on Chord Energy from $201.00 to $208.00 and gave the stock a “buy” rating in a research report on Wednesday, August 21st. Wolfe Research started coverage on Chord Energy in a research report on Thursday, July 18th. They set a “peer perform” rating for the company. Citigroup cut their price objective on shares of Chord Energy from $195.00 to $180.00 and set a “buy” rating on the stock in a research note on Monday, August 12th. Finally, Truist Financial lowered their price objective on shares of Chord Energy from $223.00 to $185.00 and set a “buy” rating on the stock in a research note on Monday, September 30th. Two investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $190.18.

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.