By otakuyassine3@gmail.com 
Chord Energy Co. (NASDAQ:CHRD – Get Free Report) was the recipient of a significant increase in short interest in the month of January. As of January 15th, there was short interest totalling 1,840,000 shares, an increase of 12.2% from the December 31st total of 1,640,000 shares. Based on an average trading volume of 876,200 shares, the short-interest ratio is presently 2.1 days. Approximately 3.1% of the shares of the stock are short sold.
Insider Transactions at Chord Energy
In related news, CAO Shannon Browning Kinney sold 1,000 shares of the firm’s stock in a transaction 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 sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 0.70% of the company’s stock.
Institutional Trading of Chord Energy
Several institutional investors have recently added to or reduced their stakes in the business. Hexagon Capital Partners LLC grew its position in shares of Chord Energy by 462.9% during the third quarter. Hexagon Capital Partners LLC now owns 197 shares of the company’s stock valued at $26,000 after purchasing an additional 162 shares in the last quarter. Stone House Investment Management LLC bought a new stake in shares of Chord Energy during the third quarter valued at approximately $26,000. Brooklyn Investment Group bought a new stake in shares of Chord Energy during the fourth quarter valued at approximately $29,000. UMB Bank n.a. raised its stake in Chord Energy by 77.7% in the third quarter. UMB Bank n.a. now owns 231 shares of the company’s stock worth $30,000 after buying an additional 101 shares in the last quarter. Finally, Spartan Fund Management Inc. bought a new position in Chord Energy in the third quarter worth approximately $34,000. 97.76% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
A number of analysts have issued reports on CHRD shares. Truist Financial boosted their target price on Chord Energy from $185.00 to $186.00 and gave the company a “buy” rating in a research report on Monday, January 13th. Wolfe Research upgraded shares of Chord Energy from a “peer perform” rating to an “outperform” rating and set a $155.00 target price for the company in a report on Friday, January 3rd. Morgan Stanley initiated coverage on shares of Chord Energy in a research note on Friday, January 10th. They issued an “equal weight” rating and a $158.00 target price for the company. Bank of America reiterated a “neutral” rating and issued a $138.00 price target (down previously from $208.00) on shares of Chord Energy in a report on Monday, January 13th. Finally, Royal Bank of Canada dropped their target price on shares of Chord Energy from $185.00 to $180.00 and set an “outperform” rating for the company in a report on Wednesday, November 20th. Three research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $173.08.
Check Out Our Latest Stock Analysis on CHRD
Chord Energy Stock Performance
Shares of NASDAQ CHRD traded down $1.48 during mid-day trading on Monday, hitting $110.97. The company had a trading volume of 1,357,767 shares, compared to its average volume of 711,122. The company has a market capitalization of $6.78 billion, a price-to-earnings ratio of 5.71, a P/E/G ratio of 5.67 and a beta of 0.98. Chord Energy has a 1 year low of $109.44 and a 1 year high of $190.23. The company has a current ratio of 0.93, a quick ratio of 0.89 and a debt-to-equity ratio of 0.10. The stock’s 50-day moving average price is $119.62 and its 200-day moving average price is $133.21.
Chord Energy (NASDAQ:CHRD – Get Free Report) last posted its quarterly earnings data on Wednesday, November 6th. The company reported $3.40 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.63 by ($0.23). Chord Energy had a return on equity of 12.88% and a net margin of 19.74%. The firm had revenue of $1.12 billion during the quarter, compared to analysts’ expectations of $1.26 billion. During the same quarter in the previous year, the company posted $5.04 earnings per share. Chord Energy’s revenue for the quarter was up 33.4% compared to the same quarter last year. On average, sell-side analysts forecast that Chord Energy will post 15.59 earnings per share for the current year.
Chord Energy Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Wednesday, November 27th were paid a $1.25 dividend. The ex-dividend date was Wednesday, November 27th. This represents a $5.00 annualized dividend and a dividend yield of 4.51%. Chord Energy’s payout ratio is currently 25.75%.
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.
See Also
Receive News & Ratings for Chord Energy Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Chord Energy and related companies with MarketBeat.com’s FREE daily email newsletter.