In a filing, Chord Energy Corp revealed its EVP and CFO Lou Michael H unloaded Company’s shares for reported $0.49 million on Feb 16 ’24. In the deal valued at $165.00 per share,3,000 shares were sold. As a result of this transaction, Lou Michael H now holds 128,209 shares worth roughly $23.63 million.
Then, Lou Michael H sold 3,000 shares, generating $462,450 in total proceeds. Upon selling the shares at $154.15, the EVP and CFO now owns 131,209 shares.
Before that, Lou Michael H sold 6,000 shares. Chord Energy Corp shares valued at $1,018,800 were divested by the EVP and CFO at a price of $169.80 per share. As a result of the transaction, Lou Michael H now holds 170,835 shares, worth roughly $31.49 million.
BofA Securities downgraded its Chord Energy Corp [CHRD] rating to an Underperform from a a Buy in a research note published on January 05, 2024; the price target was decreased to $165 from $177. A number of analysts have revised their coverage, including Wells Fargo’s analysts, who began to cover the stock in mid November with a ‘”an Overweight”‘ rating. BMO Capital Markets began covering CHRD with “an Outperform” recommendation on August 31, 2023. TD Cowen revised its rating on July 19, 2023. It rated CHRD as “a Market perform” which previously was an “an Outperform”.
Price Performance Review of CHRD
On Tuesday, Chord Energy Corp [NASDAQ:CHRD] saw its stock jump 0.17% to $184.32. Over the last five days, the stock has gained 2.53%. Chord Energy Corp shares have risen nearly 12.25% since the year began. Nevertheless, the stocks have risen 37.44% over the past one year. While a 52-week high of $185.98 was reached on 04/08/24, a 52-week low of $128.81 was recorded on 02/05/24. SMA at 50 days reached $165.13, while 200 days put it at $160.86. A total of 0.54 million shares were traded, compared to the trading of 0.65 million shares in the previous session.
Levels Of Support And Resistance For CHRD Stock
The 24-hour chart illustrates a support level at 183.06, which if violated will result in even more drops to 181.79. On the upside, there is a resistance level at 185.50. A further resistance level may holdings at 186.67. The Relative Strength Index (RSI) on the 14-day chart is 77.33, which indicates overbought technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 6.88, which suggests price will go up in the next trading period. Percent R suggests that price movement has been bullish at 9.30%. Stochastics %K at 93.05% indicates the stock is a selling.
How much short interest is there in Chord Energy Corp?
A steep rise in short interest was recorded in Chord Energy Corp stocks on Mar 15, 2024, growing by 1.31 million shares to a total of 3.21 million shares. Yahoo Finance data shows the prior-month short interest on Feb 15, 2024 was 1.9 million shares. There was a rise of 40.81%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 10.19% of the overall stock float, the days-to-cover ratio (short ratio) rose to 3.17.
The most recent change occurred on January 25, 2023 when BofA Securities began covering the stock and recommended ‘”a Buy”‘ rating along with a $178 price target.
