Short Interest in Chord Energy Co. (NASDAQ:CHRD) Grows By 28.4%

Chord Energy Co. (NASDAQ:CHRD) was the target of a large increase in short interest during 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. Currently, 3.7% of the shares of the stock are short sold. Based on an average trading volume of 873,600 shares, the days-to-cover ratio is presently 2.5 days.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on CHRD shares. Williams Trading set a $155.00 price target on shares of Chord Energy in a research report on Wednesday, March 5th. Morgan Stanley began coverage on shares of Chord Energy in a report on Friday, January 10th. They issued an “equal weight” rating and a $158.00 target price on the stock. Wells Fargo & Company lowered their price target on shares of Chord Energy from $176.00 to $175.00 and set an “overweight” rating for the company in a report on Wednesday, January 15th. Truist Financial boosted their price objective on Chord Energy from $185.00 to $186.00 and gave the stock a “buy” rating in a research note on Monday, January 13th. Finally, Citigroup lowered Chord Energy to a “reduce” rating in a research note on Wednesday, March 5th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $164.62.

Institutional Inflows and Outflows

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

Chord Energy Trading Up 1.0 %

Shares of CHRD opened at $108.72 on Wednesday. The firm has a market capitalization of $6.48 billion, a price-to-earnings ratio of 5.60, a PEG ratio of 5.83 and a beta of 0.98. 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 1-year low of $99.40 and a 1-year high of $190.23. The company has a 50-day moving average of $113.67 and a 200 day moving average of $122.59.

Chord Energy Increases Dividend

The company also recently declared 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. This is a positive change from Chord Energy’s previous quarterly dividend of $1.25. The ex-dividend date is Tuesday, March 11th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.78%. Chord Energy’s payout ratio is presently 32.62%.

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.