Chord Energy Co. Announces Quarterly Dividend of $2.94 (NASDAQ:CHRD)

Chord Energy Co. (NASDAQ:CHRD) announced a quarterly dividend on Tuesday, May 7th, Zacks reports. Shareholders of record on Wednesday, May 22nd will be paid a dividend of 2.94 per share on Wednesday, June 5th. This represents a $11.76 annualized dividend and a dividend yield of 6.48%. The ex-dividend date of this dividend is Tuesday, May 21st.

Chord Energy has a payout ratio of 24.0% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Chord Energy to earn $22.37 per share next year, which means the company should continue to be able to cover its $5.00 annual dividend with an expected future payout ratio of 22.4%.

Chord Energy Stock Up 0.7 %

CHRD traded up $1.25 during trading on Thursday, hitting $181.47. The company had a trading volume of 216,330 shares, compared to its average volume of 661,914. The firm’s 50-day moving average price is $175.41 and its 200 day moving average price is $166.02. Chord Energy has a one year low of $137.78 and a one year high of $190.23. The company has a market capitalization of $7.54 billion, a PE ratio of 7.66 and a beta of 1.07. The company has a quick ratio of 1.16, a current ratio of 1.22 and a debt-to-equity ratio of 0.08.

Chord Energy (NASDAQ:CHRD) last announced its quarterly earnings data on Tuesday, May 7th. The company reported $5.10 EPS for the quarter, topping analysts’ consensus estimates of $4.75 by $0.35. Chord Energy had a net margin of 26.27% and a return on equity of 16.35%. The business 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 earnings per share. The firm’s revenue for the quarter was up 24.8% on a year-over-year basis. As a group, equities analysts expect that Chord Energy will post 22.03 earnings per share for the current year.

Insider Transactions at Chord Energy

In other news, CFO Michael H. Lou sold 3,000 shares of the stock in a transaction dated 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 sale, the chief financial officer now directly owns 128,209 shares in the company, valued at $21,154,485. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.70% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research analysts have weighed in on CHRD shares. Truist Financial lowered their price target on Chord Energy from $229.00 to $224.00 and set a “buy” rating on the stock in a research report on Friday, April 5th. Royal Bank of Canada increased their price target on shares of Chord Energy from $180.00 to $200.00 and gave the company an “outperform” rating in a research note on Monday, April 29th. Stifel Nicolaus boosted their price objective 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. Mizuho raised their target price on shares of Chord Energy from $189.00 to $195.00 and gave the company a “buy” rating in a research note on Thursday, March 14th. Finally, Piper Sandler boosted their price target on Chord Energy from $219.00 to $230.00 and gave the stock an “overweight” rating in a research report on Friday, April 19th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, Chord Energy currently has an average rating of “Moderate Buy” and an average target price 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.