Chord Energy (NASDAQ:CHRD) Issues Earnings Results

Chord Energy (NASDAQ:CHRD) announced its quarterly earnings results on Tuesday. The company reported $5.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.75 by $0.35, Briefing.com reports. The company had revenue of $1.09 billion during the quarter, compared to analyst estimates of $771.87 million. Chord Energy had a return on equity of 16.35% and a net margin of 26.27%. The firm’s quarterly revenue was up 24.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $4.50 EPS.

Chord Energy Price Performance

CHRD traded up $3.52 during trading on Wednesday, hitting $182.20. 191,028 shares of the stock traded hands, compared to its average volume of 657,360. Chord Energy has a twelve month low of $137.78 and a twelve month high of $190.23. The company has a market cap of $7.57 billion, a price-to-earnings ratio of 7.59 and a beta of 1.07. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.22 and a quick ratio of 1.16. The business has a 50 day moving average price of $175.04 and a 200 day moving average price of $165.92.

Chord Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 19th. Shareholders of record on Tuesday, March 5th were given a dividend of $3.25 per share. This is an increase from Chord Energy’s previous quarterly dividend of $1.25. This represents a $13.00 annualized dividend and a yield of 7.14%. The ex-dividend date was Monday, March 4th. Chord Energy’s payout ratio is currently 21.25%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on CHRD shares. Piper Sandler boosted their target price on Chord Energy from $219.00 to $230.00 and gave the stock an “overweight” rating in a research report on Friday, April 19th. Royal Bank of Canada increased their target price on Chord Energy from $180.00 to $200.00 and gave the company an “outperform” rating in a research note on Monday, April 29th. Truist Financial cut their price target on Chord Energy from $229.00 to $224.00 and set a “buy” rating for the company in a report on Friday, April 5th. Stifel Nicolaus upped their price target on Chord Energy from $178.00 to $211.00 and gave the company a “buy” rating in a report on Tuesday, February 27th. Finally, Mizuho increased their target price on Chord Energy from $189.00 to $195.00 and gave the stock a “buy” rating in a report on Thursday, March 14th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $193.50.

Insider Buying and Selling at Chord Energy

In other news, CFO Michael H. Lou sold 3,000 shares of the company’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $165.00, for a total transaction of $495,000.00. Following the completion of the transaction, the chief financial officer now directly owns 128,209 shares in the company, valued at $21,154,485. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.70% of the company’s stock.

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.