Short Interest in Chord Energy Co. (NASDAQ:CHRD) Declines By 10.7%

by · The Markets Daily

Chord Energy Co. (NASDAQ:CHRD – Get Free Report) was the target of a significant decrease in short interest in September. As of September 15th, there was short interest totalling 2,510,000 shares, a decrease of 10.7% from the August 31st total of 2,810,000 shares. Based on an average trading volume of 922,900 shares, the short-interest ratio is currently 2.7 days. Currently, 4.1% of the company’s stock are short sold.

Chord Energy Price Performance

NASDAQ CHRD traded up $1.36 during midday trading on Tuesday, hitting $131.59. The company had a trading volume of 160,349 shares, compared to its average volume of 890,156. The firm has a 50-day moving average price of $148.46 and a 200-day moving average price of $166.15. The company has a market capitalization of $5.49 billion, a PE ratio of 6.11, a P/E/G ratio of 4.92 and a beta of 0.99. The company has a current ratio of 0.96, a quick ratio of 0.91 and a debt-to-equity ratio of 0.11. Chord Energy has a twelve month low of $126.96 and a twelve month high of $190.23.

Chord Energy (NASDAQ:CHRD – Get Free Report) 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). Chord Energy had a return on equity of 15.06% and a net margin of 20.83%. The firm had revenue of $902.70 million for the quarter, compared to the consensus estimate of $982.43 million. During the same period in the prior year, the company earned $3.65 EPS. The company’s revenue for the quarter was up 29.8% compared to the same quarter last year. As a group, analysts anticipate that Chord Energy will post 18.48 earnings per share for the current fiscal 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 paid a $1.25 dividend. The ex-dividend date was Wednesday, August 21st. This represents a $5.00 dividend on an annualized basis and a yield of 3.80%. Chord Energy’s dividend payout ratio (DPR) is 23.46%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. Truist Financial decreased their price objective on shares of Chord Energy from $223.00 to $185.00 and set a “buy” rating for the company in a research report on Monday. Citigroup cut their price objective on Chord Energy from $195.00 to $180.00 and set a “buy” rating for the company in a research report on Monday, August 12th. Royal Bank of Canada restated an “outperform” rating and issued a $200.00 price target on shares of Chord Energy in a research note on Friday, September 20th. Wolfe Research initiated coverage on shares of Chord Energy in a research report on Thursday, July 18th. They set a “peer perform” rating for the company. Finally, Bank of America lifted their target price on shares of Chord Energy from $201.00 to $208.00 and gave the stock a “buy” rating in a report on Wednesday, August 21st. Two investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $198.30.

Check Out Our Latest Stock Analysis on Chord Energy

Insider Buying and Selling

In related news, Director Samantha Holroyd purchased 500 shares of the stock in a transaction on Friday, August 23rd. The shares were purchased at an average price of $149.51 per share, with a total value of $74,755.00. Following the transaction, the director now directly owns 14,417 shares of the company’s stock, valued at $2,155,485.67. The acquisition was disclosed in a filing 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

A number of large investors have recently modified their holdings of CHRD. Fortem Financial Group LLC boosted its stake in Chord Energy by 1.6% in the first quarter. Fortem Financial Group LLC now owns 5,958 shares of the company’s stock valued at $1,062,000 after buying an additional 91 shares in the last quarter. New York State Teachers Retirement System lifted its stake in Chord Energy by 0.6% in the 1st quarter. New York State Teachers Retirement System now owns 15,792 shares of the company’s stock valued at $2,815,000 after purchasing an additional 100 shares during the last quarter. Benjamin F. Edwards & Company Inc. grew its stake in shares of Chord Energy by 125.9% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 244 shares of the company’s stock worth $41,000 after buying an additional 136 shares during the last quarter. Rise Advisors LLC bought a new stake in shares of Chord Energy during the first quarter worth $31,000. Finally, Ellsworth Advisors LLC lifted its stake in shares of Chord Energy by 6.6% in the 2nd quarter. Ellsworth Advisors LLC now owns 3,048 shares of the company’s stock valued at $511,000 after acquiring an additional 188 shares during the last quarter. Institutional investors and hedge funds own 97.76% of the company’s stock.

About Chord Energy

(Get Free Report)

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.

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