Chord Energy Co. (NASDAQ:CHRD) Short Interest Up 21.6% in February

Chord Energy Co. (NASDAQ:CHRD) was the recipient of a large increase in short interest during the month of February. As of February 15th, there was short interest totalling 1,690,000 shares, an increase of 21.6% from the January 31st total of 1,390,000 shares. Based on an average daily trading volume, of 879,900 shares, the days-to-cover ratio is presently 1.9 days. Currently, 2.8% of the company’s shares are sold short.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on CHRD shares. Mizuho lowered their target price on Chord Energy from $192.00 to $178.00 and set an “outperform” rating for the company in a research note on Monday, December 16th. Truist Financial lifted their price objective on Chord Energy from $185.00 to $186.00 and gave the company a “buy” rating in a research note on Monday, January 13th. Morgan Stanley started coverage on Chord Energy in a research note on Friday, January 10th. They set an “equal weight” rating and a $158.00 price objective for the company. Piper Sandler lowered their price objective on Chord Energy from $193.00 to $184.00 and set an “overweight” rating for the company in a research note on Thursday. Finally, Citigroup lowered their price objective on Chord Energy from $160.00 to $135.00 and set a “buy” rating for the company in a research note on Tuesday. Three research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Chord Energy currently has a consensus rating of “Moderate Buy” and a consensus price target of $165.42.

Chord Energy Stock Performance

Shares of CHRD opened at $103.63 on Friday. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.93 and a quick ratio of 0.89. Chord Energy has a one year low of $99.40 and a one year high of $190.23. The firm has a market capitalization of $6.18 billion, a P/E ratio of 5.34, a PEG ratio of 5.83 and a beta of 0.98. The business has a fifty day moving average of $115.71 and a 200 day moving average of $125.41.

Chord Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 26th. Investors of record on Tuesday, March 11th will be issued a $1.30 dividend. The ex-dividend date of this dividend is Tuesday, March 11th. This represents a $5.20 annualized dividend and a dividend yield of 5.02%. This is a positive change from Chord Energy’s previous quarterly dividend of $1.25. Chord Energy’s payout ratio is presently 32.62%.

Insider Transactions at Chord Energy

In other news, CAO Shannon Browning Kinney sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $116.35, for a total value of $116,350.00. Following the completion of the transaction, the chief accounting officer now owns 19,488 shares in the company, valued at $2,267,428.80. This trade represents a 4.88 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.70% of the company’s stock.

Institutional Trading of Chord Energy

Large investors have recently modified their holdings of the company. Victory Capital Management Inc. grew its holdings in shares of Chord Energy by 41.3% in the third quarter. Victory Capital Management Inc. now owns 2,245,435 shares of the company’s stock worth $292,423,000 after acquiring an additional 656,374 shares during the period. Merit Financial Group LLC bought a new stake in Chord Energy during the fourth quarter valued at about $553,000. Geode Capital Management LLC grew its holdings in Chord Energy by 3.0% during the third quarter. Geode Capital Management LLC now owns 1,162,442 shares of the company’s stock valued at $151,077,000 after purchasing an additional 34,156 shares during the period. Kingsview Wealth Management LLC grew its holdings in Chord Energy by 55.3% during the fourth quarter. Kingsview Wealth Management LLC now owns 21,744 shares of the company’s stock valued at $2,542,000 after purchasing an additional 7,743 shares during the period. Finally, Arkfeld Wealth Strategies L.L.C. grew its holdings in Chord Energy by 3.5% during the fourth quarter. Arkfeld Wealth Strategies L.L.C. now owns 92,211 shares of the company’s stock valued at $11,596,000 after purchasing an additional 3,151 shares during the period. Institutional investors own 97.76% of the company’s stock.

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.