Short Interest in Chord Energy Co. (NASDAQ:CHRD) Grows By 28.4%

Chord Energy Co. (NASDAQ:CHRD) was the recipient of a large growth in short interest during the month of 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. Currently, 3.7% of the shares of the company are sold short. Based on an average daily trading volume, of 873,600 shares, the days-to-cover ratio is currently 2.5 days.

Wall Street Analyst Weigh In

CHRD has been the subject of a number of research reports. Wells Fargo & Company reduced their price target on shares of Chord Energy from $176.00 to $175.00 and set an “overweight” rating for the company in a report on Wednesday, January 15th. Truist Financial boosted their price target on shares of Chord Energy from $185.00 to $186.00 and gave the stock a “buy” rating in a research note on Monday, January 13th. Williams Trading set a $155.00 price target on Chord Energy in a report on Wednesday, March 5th. Royal Bank of Canada lowered their target price on Chord Energy from $185.00 to $180.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 20th. Finally, Bank of America restated a “neutral” rating and set a $138.00 target price (down from $208.00) on shares of Chord Energy in a report on Monday, January 13th. One analyst has rated the stock with a sell rating, three have issued a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $164.62.

Chord Energy Trading Down 0.5 %

NASDAQ:CHRD traded down $0.55 during mid-day trading on Tuesday, hitting $107.09. 183,225 shares of the company’s stock were exchanged, compared to its average volume of 906,130. Chord Energy has a fifty-two week low of $99.40 and a fifty-two week high of $190.23. The company has a current ratio of 0.93, a quick ratio of 0.89 and a debt-to-equity ratio of 0.10. The firm has a market capitalization of $6.39 billion, a P/E ratio of 5.52, a PEG ratio of 5.83 and a beta of 0.98. The company has a 50 day simple moving average of $114.24 and a 200-day simple moving average of $123.16.

Chord Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 26th. Stockholders of record on Tuesday, March 11th will be issued a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.86%. 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 payout ratio is 32.62%.

Institutional Trading of Chord Energy

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

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.