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

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

Chord Energy Trading Up 1.0 %

Shares of NASDAQ:CHRD opened at $108.72 on Wednesday. Chord Energy has a 12-month low of $99.40 and a 12-month high of $190.23. The company has a market cap of $6.48 billion, a PE ratio of 5.60, a price-to-earnings-growth ratio of 5.83 and a beta of 0.98. The stock has a 50 day moving average of $113.67 and a 200 day moving average of $122.59. 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 Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 26th. Stockholders of record on Tuesday, March 11th will be given a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a dividend yield of 4.78%. This is an increase from Chord Energy’s previous quarterly dividend of $1.25. The ex-dividend date of this dividend is Tuesday, March 11th. Chord Energy’s dividend payout ratio (DPR) is presently 32.62%.

Analyst Ratings Changes

Several research firms recently commented on CHRD. Williams Trading set a $155.00 price objective on Chord Energy in a report on Wednesday, March 5th. Morgan Stanley started coverage on shares of Chord Energy in a report on Friday, January 10th. They set an “equal weight” rating and a $158.00 price objective for the company. Truist Financial increased their price objective on shares of Chord Energy from $185.00 to $186.00 and gave the company a “buy” rating in a research report on Monday, January 13th. Citigroup downgraded shares of Chord Energy to a “reduce” rating in a research report on Wednesday, March 5th. Finally, Royal Bank of Canada lowered their price target on Chord Energy from $185.00 to $180.00 and set an “outperform” rating on the stock in a report on Wednesday, November 20th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Chord Energy has a consensus rating of “Moderate Buy” and an average target price of $164.62.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Pacer Advisors Inc. boosted its stake in shares of Chord Energy by 8,762.1% in the third quarter. Pacer Advisors Inc. now owns 1,245,034 shares of the company’s stock worth $162,141,000 after acquiring an additional 1,230,985 shares during the period. Victory Capital Management Inc. boosted its stake in Chord Energy by 27.6% in the 4th quarter. Victory Capital Management Inc. now owns 2,864,456 shares of the company’s stock worth $334,912,000 after purchasing an additional 619,021 shares during the period. Point72 Asset Management L.P. grew its holdings in Chord Energy by 143.8% during the 3rd quarter. Point72 Asset Management L.P. now owns 880,787 shares of the company’s stock valued at $114,705,000 after buying an additional 519,547 shares in the last quarter. FMR LLC raised its position in shares of Chord Energy by 11.5% during the fourth quarter. FMR LLC now owns 3,814,384 shares of the company’s stock valued at $445,978,000 after buying an additional 394,372 shares during the last quarter. Finally, Encompass Capital Advisors LLC purchased a new position in shares of Chord Energy in the fourth quarter worth $43,745,000. 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.