Chord Energy (NASDAQ:CHRD) Announces Earnings Results

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

Chord Energy Trading Up 0.2 %

NASDAQ CHRD opened at $178.68 on Wednesday. Chord Energy has a 12 month low of $137.78 and a 12 month high of $190.23. The company has a market capitalization of $7.42 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 firm’s fifty day moving average price is $175.04 and its 200 day moving average price is $165.92.

Chord Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 19th. Stockholders of record on Tuesday, March 5th were given a dividend of $3.25 per share. This represents a $13.00 annualized dividend and a dividend yield of 7.28%. The ex-dividend date was Monday, March 4th. This is an increase from Chord Energy’s previous quarterly dividend of $1.25. Chord Energy’s payout ratio is currently 21.25%.

Insider Buying and Selling at Chord Energy

In related news, CFO Michael H. Lou sold 3,000 shares of the company’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $165.00, for a total value of $495,000.00. Following the completion of the sale, the chief financial officer now directly owns 128,209 shares of the company’s stock, valued at approximately $21,154,485. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.70% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

CHRD has been the subject of several recent research reports. Truist Financial decreased their price target on shares of Chord Energy from $229.00 to $224.00 and set a “buy” rating for the company in a research report on Friday, April 5th. Mizuho upped their price target on Chord Energy from $189.00 to $195.00 and gave the stock a “buy” rating in a report on Thursday, March 14th. Piper Sandler lifted their price objective on Chord Energy from $219.00 to $230.00 and gave the company an “overweight” rating in a research note on Friday, April 19th. Royal Bank of Canada upped their target price on shares of Chord Energy from $180.00 to $200.00 and gave the stock an “outperform” rating in a research note on Monday, April 29th. Finally, Stifel Nicolaus lifted their price target on shares of Chord Energy from $178.00 to $211.00 and gave the stock a “buy” rating in a research note on Tuesday, February 27th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $193.50.

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.