Chord Energy Co. (NASDAQ:CHRD) Short Interest Update

Chord Energy Co. (NASDAQ:CHRD) was the recipient of a significant decrease in short interest during the month of October. As of October 15th, there was short interest totalling 2,460,000 shares, a decrease of 6.8% from the September 30th total of 2,640,000 shares. Based on an average daily trading volume, of 793,700 shares, the short-interest ratio is currently 3.1 days. Approximately 4.0% of the company’s stock are short sold.

Insider Buying and Selling

In other news, Director Samantha Holroyd acquired 500 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The shares were purchased at an average price of $149.51 per share, for a total transaction of $74,755.00. Following the completion of the acquisition, the director now owns 14,417 shares of the company’s stock, valued at approximately $2,155,485.67. This represents a 0.00 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.70% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Chord Energy

Several institutional investors and hedge funds have recently made changes to their positions in CHRD. Victory Capital Management Inc. boosted its holdings in Chord Energy by 397.5% in the second quarter. Victory Capital Management Inc. now owns 1,589,061 shares of the company’s stock worth $266,454,000 after acquiring an additional 1,269,658 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in Chord Energy by 72.0% in the second quarter. Dimensional Fund Advisors LP now owns 1,771,780 shares of the company’s stock worth $297,090,000 after acquiring an additional 741,705 shares in the last quarter. Boston Partners boosted its holdings in Chord Energy by 107.0% in the first quarter. Boston Partners now owns 1,305,942 shares of the company’s stock worth $232,813,000 after acquiring an additional 674,965 shares in the last quarter. Millennium Management LLC boosted its holdings in Chord Energy by 226.5% in the second quarter. Millennium Management LLC now owns 696,488 shares of the company’s stock worth $116,787,000 after acquiring an additional 483,144 shares in the last quarter. Finally, KGH Ltd boosted its holdings in Chord Energy by 872.0% in the second quarter. KGH Ltd now owns 485,998 shares of the company’s stock worth $81,492,000 after acquiring an additional 435,998 shares in the last quarter. Institutional investors own 97.76% of the company’s stock.

Chord Energy Price Performance

Shares of CHRD stock opened at $123.80 on Friday. The company has a quick ratio of 0.91, a current ratio of 0.96 and a debt-to-equity ratio of 0.11. Chord Energy has a twelve month low of $123.30 and a twelve month high of $190.23. The company has a market cap of $7.66 billion, a P/E ratio of 6.01, a P/E/G ratio of 4.90 and a beta of 0.97. The business has a fifty day simple moving average of $134.69 and a 200 day simple moving average of $158.56.

Chord Energy (NASDAQ:CHRD) last issued its earnings results on Wednesday, August 7th. The company reported $4.69 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $5.00 by ($0.31). The firm had revenue of $902.70 million during the quarter, compared to analyst estimates of $982.43 million. Chord Energy had a return on equity of 15.06% and a net margin of 20.83%. Chord Energy’s revenue for the quarter was up 29.8% on a year-over-year basis. During the same period in the previous year, the company earned $3.65 EPS. On average, sell-side analysts forecast that Chord Energy will post 17.07 EPS for the current fiscal year.

Chord Energy Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 5th. Investors of record on Wednesday, August 21st were given a dividend of $1.25 per share. The ex-dividend date was Wednesday, August 21st. This represents a $5.00 annualized dividend and a dividend yield of 4.04%. Chord Energy’s payout ratio is 24.27%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on CHRD shares. Piper Sandler increased their price objective on Chord Energy from $206.00 to $211.00 and gave the company an “overweight” rating in a research report on Tuesday, October 15th. Truist Financial reduced their price objective on Chord Energy from $223.00 to $185.00 and set a “buy” rating for the company in a research report on Monday, September 30th. Wolfe Research started coverage on Chord Energy in a research report on Thursday, July 18th. They issued a “peer perform” rating for the company. Jefferies Financial Group started coverage on Chord Energy in a research report on Thursday, September 5th. They issued a “hold” rating and a $160.00 target price for the company. Finally, BMO Capital Markets reduced their target price on Chord Energy from $205.00 to $175.00 and set an “outperform” rating for the company in a research report on Friday, October 4th. Two research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $190.18.

Chord Energy Company Profile

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.