Chord Energy Co. (NASDAQ:CHRD) Sees Significant Growth in Short Interest

Chord Energy Co. (NASDAQ:CHRD) was the recipient of a significant growth in short interest in February. As of February 28th, there was short interest totalling 2,170,000 shares, a growth of 28.4% from the February 13th total of 1,690,000 shares. Based on an average daily volume of 873,600 shares, the short-interest ratio is currently 2.5 days. Approximately 3.7% of the company’s stock are short sold.

Chord Energy Stock Up 1.3 %

NASDAQ CHRD opened at $107.58 on Monday. The stock’s 50 day simple moving average is $114.24 and its 200 day simple moving average is $123.16. Chord Energy has a one year low of $99.40 and a one year high of $190.23. The firm has a market cap of $6.42 billion, a PE ratio of 5.55, a price-to-earnings-growth ratio of 5.83 and a beta of 0.98. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.93 and a quick ratio of 0.89.

Chord Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 26th. Stockholders of record on Tuesday, March 11th will be paid a $1.30 dividend. This represents a $5.20 annualized dividend and a dividend yield of 4.83%. The ex-dividend date of this dividend is Tuesday, March 11th. This is a positive change from Chord Energy’s previous quarterly dividend of $1.25. Chord Energy’s dividend payout ratio (DPR) is 32.62%.

Hedge Funds Weigh In On Chord Energy

Large investors have recently bought and sold shares of the business. Ascent Group LLC raised its holdings in Chord Energy by 11.1% in the fourth quarter. Ascent Group LLC now owns 17,300 shares of the company’s stock worth $2,023,000 after purchasing an additional 1,731 shares during the period. GF Fund Management CO. LTD. acquired a new position in Chord Energy during the 4th quarter worth approximately $2,197,000. GTS Securities LLC acquired a new position in Chord Energy during the 4th quarter worth approximately $1,183,000. CSS LLC IL raised its holdings in shares of Chord Energy by 30.9% in the fourth quarter. CSS LLC IL now owns 21,157 shares of the company’s stock valued at $2,474,000 after purchasing an additional 4,994 shares during the last quarter. Finally, Worldquant Millennium Advisors LLC acquired a new stake in shares of Chord Energy in the fourth quarter valued at approximately $11,534,000. 97.76% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CHRD has been the subject of a number of research reports. Royal Bank of Canada decreased their target price on shares of Chord Energy from $185.00 to $180.00 and set an “outperform” rating for the company in a research note on Wednesday, November 20th. Bank of America reaffirmed a “neutral” rating and issued a $138.00 target price (down from $208.00) on shares of Chord Energy in a research report on Monday, January 13th. Williams Trading set a $155.00 price objective on Chord Energy in a report on Wednesday, March 5th. Wolfe Research upgraded shares of Chord Energy from a “peer perform” rating to an “outperform” rating and set a $155.00 price objective for the company in a report on Friday, January 3rd. Finally, Truist Financial lifted their price target on shares of Chord Energy from $185.00 to $186.00 and gave the company a “buy” rating in a research report on Monday, January 13th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $164.62.

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.