Chord Energy Co. (CHRD) to Issue Quarterly Dividend of $1.25 on December 12th

Chord Energy Co. (NASDAQ:CHRD) announced a quarterly dividend on Sunday, November 24th,Zacks Dividends reports. Investors of record on Wednesday, November 27th will be paid a dividend of 1.25 per share on Thursday, December 12th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 3.72%. The ex-dividend date is Wednesday, November 27th.

Chord Energy has a payout ratio of 5.5% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Chord Energy to earn $15.72 per share next year, which means the company should continue to be able to cover its $0.76 annual dividend with an expected future payout ratio of 4.8%.

Chord Energy Price Performance

Chord Energy stock opened at $134.43 on Monday. The business has a fifty day moving average price of $131.00 and a 200-day moving average price of $152.70. Chord Energy has a one year low of $123.30 and a one year high of $190.23. The firm has a market capitalization of $8.22 billion, a P/E ratio of 6.92, a PEG ratio of 5.39 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 (NASDAQ:CHRD) last posted its earnings results on Wednesday, November 6th. The company reported $3.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.63 by ($0.23). The firm had revenue of $1.12 billion during the quarter, compared to analysts’ expectations of $1.26 billion. Chord Energy had a return on equity of 12.88% and a net margin of 19.74%. The business’s revenue for the quarter was up 33.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $5.04 earnings per share. As a group, equities research analysts forecast that Chord Energy will post 16.5 EPS for the current year.

Analyst Ratings Changes

A number of brokerages recently weighed in on CHRD. Siebert Williams Shank raised shares of Chord Energy to a “strong-buy” rating in a research note on Tuesday, October 15th. Jefferies Financial Group began coverage on shares of Chord Energy in a research report on Thursday, September 5th. They issued a “hold” rating and a $160.00 target price for the company. Royal Bank of Canada dropped their price target on Chord Energy from $185.00 to $180.00 and set an “outperform” rating for the company in a research note on Wednesday, November 20th. BMO Capital Markets decreased their price objective on Chord Energy from $205.00 to $175.00 and set an “outperform” rating on the stock in a report on Friday, October 4th. Finally, Bank of America boosted their target price on Chord Energy from $201.00 to $208.00 and gave the stock a “buy” rating in a research report on Wednesday, August 21st. Two 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, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $188.45.

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.