Chord Energy Co. (NASDAQ:CHRD) Short Interest Up 5.2% in September

Chord Energy Co. (NASDAQ:CHRD) was the target of a large growth in short interest in September. As of September 30th, there was short interest totalling 2,640,000 shares, a growth of 5.2% from the September 15th total of 2,510,000 shares. Based on an average daily volume of 777,700 shares, the days-to-cover ratio is presently 3.4 days. Currently, 4.3% of the shares of the stock are sold short.

Analysts Set New Price Targets

A number of research firms have recently issued reports on CHRD. Royal Bank of Canada reiterated an “outperform” rating and issued a $200.00 price objective on shares of Chord Energy in a report on Friday, September 20th. Bank of America upped their target price on Chord Energy from $201.00 to $208.00 and gave the stock a “buy” rating in a research note on Wednesday, August 21st. Wolfe Research began coverage on shares of Chord Energy in a report on Thursday, July 18th. They issued a “peer perform” rating for the company. Jefferies Financial Group began coverage on shares of Chord Energy in a report on Thursday, September 5th. They set a “hold” rating and a $160.00 target price on the stock. Finally, Piper Sandler boosted their price target on shares of Chord Energy from $206.00 to $211.00 and gave the stock an “overweight” rating in a research note on Tuesday. Two equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $190.18.

Insiders Place Their Bets

In other Chord Energy news, Director Samantha Holroyd bought 500 shares of Chord Energy stock in a transaction that occurred on Friday, August 23rd. The stock was acquired at an average cost of $149.51 per share, for a total transaction of $74,755.00. Following the completion of the transaction, the director now directly owns 14,417 shares in the company, valued at $2,155,485.67. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.70% of the company’s stock.

Hedge Funds Weigh In On Chord Energy

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Kraematon Investment Advisors Inc. purchased a new stake in shares of Chord Energy in the 2nd quarter worth approximately $4,426,000. Sei Investments Co. grew its stake in shares of Chord Energy by 24.0% in the first quarter. Sei Investments Co. now owns 144,166 shares of the company’s stock worth $25,696,000 after acquiring an additional 27,903 shares during the last quarter. Bank of Montreal Can increased its holdings in shares of Chord Energy by 956.5% during the second quarter. Bank of Montreal Can now owns 58,359 shares of the company’s stock valued at $9,873,000 after acquiring an additional 52,835 shares in the last quarter. Quantbot Technologies LP purchased a new position in shares of Chord Energy in the 1st quarter worth about $884,000. Finally, BOKF NA boosted its stake in Chord Energy by 1,678.3% in the 1st quarter. BOKF NA now owns 15,471 shares of the company’s stock worth $2,751,000 after purchasing an additional 14,601 shares in the last quarter. Hedge funds and other institutional investors own 97.76% of the company’s stock.

Chord Energy Trading Up 1.7 %

NASDAQ CHRD traded up $2.23 during trading on Thursday, hitting $130.58. The company had a trading volume of 741,746 shares, compared to its average volume of 884,623. The company’s fifty day moving average is $139.85 and its 200-day moving average is $162.65. Chord Energy has a one year low of $126.38 and a one year high of $190.23. The company has a current ratio of 0.96, a quick ratio of 0.91 and a debt-to-equity ratio of 0.11. The company has a market cap of $5.44 billion, a price-to-earnings ratio of 6.13, a price-to-earnings-growth ratio of 4.92 and a beta of 0.97.

Chord Energy (NASDAQ:CHRD) last announced its quarterly earnings results on Wednesday, August 7th. The company reported $4.69 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.00 by ($0.31). The company had revenue of $902.70 million for the quarter, compared to analysts’ expectations of $982.43 million. Chord Energy had a net margin of 20.83% and a return on equity of 15.06%. Chord Energy’s quarterly revenue was up 29.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.65 EPS. On average, sell-side analysts predict that Chord Energy will post 17.93 earnings per share for the current year.

Chord Energy Cuts Dividend

The company also recently declared 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 annualized dividend and a yield of 3.83%. Chord Energy’s payout ratio is 23.46%.

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.