Chord Energy Corporation (NASDAQ:CHRD) Short Interest Up 20.9% in March

Chord Energy Corporation (NASDAQ:CHRD) saw a significant increase in short interest during the month of March. As of March 13th, there was short interest totaling 4,394,786 shares, an increase of 20.9% from the February 26th total of 3,635,155 shares. Approximately 7.8% of the company’s shares are short sold. Based on an average trading volume of 1,594,886 shares, the days-to-cover ratio is currently 2.8 days.

Insider Transactions at Chord Energy

In related news, Director Douglas E. Brooks sold 2,126 shares of Chord Energy stock in a transaction dated Friday, March 6th. The stock was sold at an average price of $120.28, for a total value of $255,715.28. Following the completion of the sale, the director directly owned 25,181 shares in the company, valued at $3,028,770.68. This trade represents a 7.79% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Michael H. Lou sold 15,000 shares of the business’s stock in a transaction dated Thursday, March 12th. The stock was sold at an average price of $125.47, for a total value of $1,882,050.00. Following the sale, the executive vice president directly owned 82,699 shares of the company’s stock, valued at $10,376,243.53. This represents a 15.35% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 23,927 shares of company stock worth $2,912,028. Insiders own 0.79% of the company’s stock.

Hedge Funds Weigh In On Chord Energy

Several institutional investors have recently modified their holdings of the business. Massachusetts Financial Services Co. MA acquired a new stake in Chord Energy during the 3rd quarter worth approximately $91,434,000. Orion Porfolio Solutions LLC boosted its holdings in shares of Chord Energy by 6,714.2% in the second quarter. Orion Porfolio Solutions LLC now owns 709,086 shares of the company’s stock valued at $68,675,000 after buying an additional 698,680 shares during the period. Dimensional Fund Advisors LP increased its position in shares of Chord Energy by 85.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,218,167 shares of the company’s stock worth $112,927,000 after acquiring an additional 561,899 shares in the last quarter. AQR Capital Management LLC raised its holdings in shares of Chord Energy by 210.5% during the second quarter. AQR Capital Management LLC now owns 734,225 shares of the company’s stock worth $71,110,000 after acquiring an additional 497,789 shares during the period. Finally, Barclays PLC raised its holdings in shares of Chord Energy by 186.2% during the third quarter. Barclays PLC now owns 501,170 shares of the company’s stock worth $49,801,000 after acquiring an additional 326,054 shares during the period. Institutional investors own 97.76% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on CHRD shares. Weiss Ratings raised shares of Chord Energy from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Tuesday, March 17th. Scotiabank upgraded shares of Chord Energy to a “hold” rating in a report on Friday, March 27th. Royal Bank Of Canada reduced their price objective on shares of Chord Energy from $135.00 to $128.00 and set an “outperform” rating on the stock in a research note on Tuesday, January 13th. Truist Financial began coverage on shares of Chord Energy in a report on Tuesday, March 24th. They set a “buy” rating and a $169.00 target price for the company. Finally, Pickering Energy Partners cut shares of Chord Energy from an “outperform” rating to a “neutral” rating in a research report on Friday, January 9th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, Chord Energy has a consensus rating of “Moderate Buy” and a consensus target price of $141.83.

More Chord Energy News

Here are the key news stories impacting Chord Energy this week:

• Positive Sentiment: Multiple Zacks pieces highlight CHRD as a buy/momentum name and show upward revisions to earnings estimates, supporting continued upside momentum. Read More.
• Positive Sentiment: Zacks reports that earnings estimates for CHRD have been moved higher, which typically supports higher analyst valuations and investor interest. Read More.
• Positive Sentiment: Analyst-driven momentum: coverage and headlines noting CHRD trading near 52-week highs have attracted momentum flows and attention from quantitative/ETF strategies tied to index strength. Read More.
• Positive Sentiment: CHRD was singled out among a small group of stocks trading near 52-week highs with upside potential, reinforcing the momentum narrative for short-term investors. Read More.
• Positive Sentiment: Zacks included CHRD on a list of top income-stock buys (Zacks Rank #1), which can attract income-focused funds and yield-seeking retail flows. Read More.
• Positive Sentiment: Multiple Zacks commentary pieces frame CHRD as a strong momentum candidate this year versus peers, a narrative that supports continued trader interest. Read More.
• Neutral Sentiment: Citigroup raised its price target from $120 to $155 (higher implied upside) but kept a “neutral” rating — a mixed signal that lifts headline upside while tempering conviction. Read More.
• Positive Sentiment: Coverage noting a new 1-year high after analyst activity reinforces the view that recent upgrades/coverage drove intraday buying and visibility. Read More.

Chord Energy Trading Down 3.5%

Shares of NASDAQ:CHRD traded down $5.02 during mid-day trading on Wednesday, reaching $137.16. The stock had a trading volume of 740,177 shares, compared to its average volume of 1,036,845. The firm has a 50 day simple moving average of $112.95 and a two-hundred day simple moving average of $100.60. Chord Energy has a twelve month low of $79.83 and a twelve month high of $148.41. The firm has a market cap of $7.77 billion, a PE ratio of 217.47 and a beta of 0.84. The company has a current ratio of 1.06, a quick ratio of 0.98 and a debt-to-equity ratio of 0.18.

Chord Energy (NASDAQ:CHRD) last issued its quarterly earnings data on Wednesday, February 25th. The company reported $1.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.17 by $0.11. The firm had revenue of $1.17 billion during the quarter, compared to analysts’ expectations of $1.03 billion. Chord Energy had a net margin of 0.91% and a return on equity of 6.71%. The business’s revenue for the quarter was down 19.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $3.49 earnings per share. On average, research analysts predict that Chord Energy will post 15.59 EPS for the current fiscal year.

Chord Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 27th. Shareholders of record on Thursday, March 12th were paid a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date of this dividend was Thursday, March 12th. Chord Energy’s payout ratio is presently 825.40%.

Chord Energy Company Profile

Chord Energy Corporation (NASDAQ: CHRD), formerly known as Oasis Petroleum Inc, is an independent exploration and production company focused on the acquisition, development and production of crude oil, natural gas and natural gas liquids. Headquartered in Houston, Texas, Chord Energy emerged from financial restructuring in early 2021 and rebranded in October 2022 to reflect its renewed strategic vision.

The company’s core operations are concentrated in two prolific U.S. resource plays: the Williston Basin across North Dakota and Montana, and the Delaware Basin spanning parts of West Texas and southeastern New Mexico.