Chord Energy (NASDAQ:CHRD) Announces 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, beating the consensus estimate of $4.75 by $0.35, Briefing.com reports. Chord Energy had a net margin of 26.27% and a return on equity of 16.35%. The firm had revenue of $1.09 billion for the quarter, compared to analyst estimates of $771.87 million. During the same quarter in the previous year, the firm posted $4.50 EPS. The business’s revenue for the quarter was up 24.8% on a year-over-year basis.

Chord Energy Trading Up 1.0 %

NASDAQ CHRD traded up $1.75 during trading on Wednesday, reaching $180.43. 126,886 shares of the stock traded hands, compared to its average volume of 657,067. Chord Energy has a fifty-two week low of $137.78 and a fifty-two week high of $190.23. The company has a quick ratio of 1.16, a current ratio of 1.22 and a debt-to-equity ratio of 0.08. The firm has a market cap of $7.50 billion, a price-to-earnings ratio of 7.59 and a beta of 1.07. The stock’s 50-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 declared a quarterly dividend, which was paid on Tuesday, March 19th. Stockholders of record on Tuesday, March 5th were paid a $3.25 dividend. The ex-dividend date of this dividend was Monday, March 4th. This is a boost from Chord Energy’s previous quarterly dividend of $1.25. This represents a $13.00 dividend on an annualized basis and a dividend yield of 7.21%. Chord Energy’s dividend payout ratio is 21.25%.

Insiders Place Their Bets

In related 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 value of $495,000.00. Following the completion of the sale, the chief financial officer now owns 128,209 shares in the company, valued at approximately $21,154,485. The transaction was disclosed in a filing with the SEC, which is available through this link. Company insiders own 0.70% of the company’s stock.

Analyst Ratings Changes

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

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.