Chord Energy Co. (NASDAQ:CHRD) Short Interest Up 8.6% in December

Chord Energy Co. (NASDAQ:CHRD) saw a significant growth in short interest in the month of December. As of December 15th, there was short interest totalling 1,640,000 shares, a growth of 8.6% from the November 30th total of 1,510,000 shares. Based on an average daily trading volume, of 908,400 shares, the days-to-cover ratio is presently 1.8 days. Currently, 2.7% of the company’s shares are sold short.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Mizuho cut their target price 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. BMO Capital Markets cut their price objective on Chord Energy from $205.00 to $175.00 and set an “outperform” rating on the stock in a research report on Friday, October 4th. Siebert Williams Shank upgraded Chord Energy to a “strong-buy” rating in a research report on Tuesday, October 15th. Truist Financial lowered their target price on shares of Chord Energy from $223.00 to $185.00 and set a “buy” rating for the company in a research note on Monday, September 30th. Finally, 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 on the stock. Two equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Chord Energy has an average rating of “Moderate Buy” and a consensus target price of $182.55.

Insiders Place Their Bets

In related news, CAO Shannon Browning Kinney sold 1,000 shares of the stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $116.35, for a total value of $116,350.00. Following the sale, the chief accounting officer now directly owns 19,488 shares of the company’s stock, valued at $2,267,428.80. This represents a 4.88 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.70% of the stock is owned by insiders.

Institutional Investors Weigh In On Chord Energy

Institutional investors have recently added to or reduced their stakes in the stock. Hexagon Capital Partners LLC boosted its stake in Chord Energy by 462.9% in the third quarter. Hexagon Capital Partners LLC now owns 197 shares of the company’s stock valued at $26,000 after acquiring an additional 162 shares in the last quarter. Stone House Investment Management LLC purchased a new stake in shares of Chord Energy during the 3rd quarter valued at $26,000. UMB Bank n.a. boosted its position in shares of 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 in the last quarter. Spartan Fund Management Inc. purchased a new position in Chord Energy during the 3rd quarter worth $34,000. Finally, Ashton Thomas Private Wealth LLC purchased a new position in Chord Energy during the 2nd quarter worth $40,000. Institutional investors own 97.76% of the company’s stock.

Chord Energy Stock Up 2.7 %

Chord Energy stock traded up $3.04 during midday trading on Wednesday, hitting $116.92. 688,019 shares of the company’s stock were exchanged, compared to its average volume of 892,320. Chord Energy has a 12 month low of $109.59 and a 12 month high of $190.23. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.89 and a current ratio of 0.93. The company has a market cap of $7.15 billion, a PE ratio of 6.02, a P/E/G ratio of 4.79 and a beta of 0.96. The firm has a 50-day moving average of $123.19 and a two-hundred day moving average of $141.30.

Chord Energy (NASDAQ:CHRD) last issued its quarterly earnings data on Wednesday, November 6th. The company reported $3.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.63 by ($0.23). The business had revenue of $1.12 billion for the quarter, compared to analysts’ expectations of $1.26 billion. Chord Energy had a net margin of 19.74% and a return on equity of 12.88%. The business’s quarterly revenue was up 33.4% compared to the same quarter last year. During the same period in the previous year, the business earned $5.04 earnings per share. As a group, analysts expect that Chord Energy will post 16.5 earnings per share for the current fiscal year.

Chord Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Wednesday, November 27th were given a $1.25 dividend. This represents a $5.00 annualized dividend and a dividend yield of 4.28%. The ex-dividend date was Wednesday, November 27th. Chord Energy’s payout ratio is 25.75%.

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.