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

Chord Energy Co. (NASDAQ:CHRD) was the target of a significant increase in short interest in the month of February. As of February 28th, there was short interest totalling 2,170,000 shares, an increase of 28.4% from the February 13th total of 1,690,000 shares. Approximately 3.7% of the shares of the stock are short sold. Based on an average daily trading volume, of 873,600 shares, the days-to-cover ratio is currently 2.5 days.

Hedge Funds Weigh In On Chord Energy

Hedge funds have recently bought and sold shares of the business. FMR LLC raised its stake in shares of Chord Energy by 11.5% in the 4th quarter. FMR LLC now owns 3,814,384 shares of the company’s stock valued at $445,978,000 after acquiring an additional 394,372 shares in the last quarter. Victory Capital Management Inc. boosted its holdings in shares of Chord Energy by 27.6% during the 4th quarter. Victory Capital Management Inc. now owns 2,864,456 shares of the company’s stock worth $334,912,000 after buying an additional 619,021 shares during the period. State Street Corp grew its stake in Chord Energy by 0.9% in the 3rd quarter. State Street Corp now owns 2,485,777 shares of the company’s stock valued at $323,723,000 after buying an additional 22,753 shares during the last quarter. Boston Partners raised its holdings in Chord Energy by 5.6% in the 4th quarter. Boston Partners now owns 2,186,483 shares of the company’s stock worth $255,684,000 after acquiring an additional 115,215 shares during the period. Finally, Pacer Advisors Inc. raised its holdings in Chord Energy by 50.4% in the 4th quarter. Pacer Advisors Inc. now owns 1,872,156 shares of the company’s stock worth $218,892,000 after acquiring an additional 627,122 shares during the period. 97.76% of the stock is owned by institutional investors and hedge funds.

Chord Energy Stock Down 0.5 %

NASDAQ:CHRD traded down $0.55 on Tuesday, hitting $107.09. 183,225 shares of the company’s stock traded hands, compared to its average volume of 906,130. The company has a market cap of $6.39 billion, a PE ratio of 5.52, a price-to-earnings-growth ratio of 5.83 and a beta of 0.98. The firm has a 50-day moving average price of $114.24 and a 200-day moving average price of $123.16. The company has a current ratio of 0.93, a quick ratio of 0.89 and a debt-to-equity ratio of 0.10. Chord Energy has a 1 year low of $99.40 and a 1 year high of $190.23.

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. The ex-dividend date is Tuesday, March 11th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.86%. This is an increase from Chord Energy’s previous quarterly dividend of $1.25. Chord Energy’s dividend payout ratio (DPR) is currently 32.62%.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on CHRD. Williams Trading set a $155.00 price target on shares of Chord Energy in a report on Wednesday, March 5th. Wells Fargo & Company cut their target price on shares of Chord Energy from $176.00 to $175.00 and set an “overweight” rating for the company in a research note on Wednesday, January 15th. Mizuho decreased their price target on shares of Chord Energy from $192.00 to $178.00 and set an “outperform” rating on the stock in a research report on Monday, December 16th. Piper Sandler dropped their price target on Chord Energy from $193.00 to $184.00 and set an “overweight” rating on the stock in a report on Thursday, March 6th. Finally, Morgan Stanley initiated coverage on Chord Energy in a report on Friday, January 10th. They issued an “equal weight” rating and a $158.00 target price on the stock. One analyst has rated the stock with a sell rating, three have given a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $164.62.

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.