Chord Energy Corporation (NASDAQ:CHRD) to Issue Quarterly Dividend of $1.30

Chord Energy Corporation (NASDAQ:CHRD) announced a quarterly dividend on Wednesday, August 5th. Investors of record on Thursday, August 20th will be given a dividend of 1.30 per share on Friday, September 4th. This represents a c) dividend on an annualized basis and a yield of 4.0%. The ex-dividend date of this dividend is Thursday, August 20th.

Chord Energy has a dividend payout ratio of 53.7% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Chord Energy to earn $12.31 per share next year, which means the company should continue to be able to cover its $5.20 annual dividend with an expected future payout ratio of 42.2%.

Chord Energy Trading Down 5.1%

NASDAQ:CHRD opened at $129.95 on Thursday. The stock has a market capitalization of $7.32 billion, a price-to-earnings ratio of -115.00 and a beta of 0.48. Chord Energy has a 52 week low of $84.25 and a 52 week high of $151.95. The company has a quick ratio of 0.96, a current ratio of 1.02 and a debt-to-equity ratio of 0.18. The firm has a 50 day moving average of $128.07 and a 200 day moving average of $125.00.

Chord Energy (NASDAQ:CHRD) last released its quarterly earnings results on Wednesday, August 5th. The company reported $6.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $6.55 by ($0.11). The firm had revenue of $2.17 billion during the quarter, compared to analysts’ expectations of $1.62 billion. Chord Energy had a positive return on equity of 7.06% and a negative net margin of 1.25%.Chord Energy’s revenue for the quarter was up 128.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.79 earnings per share. As a group, sell-side analysts anticipate that Chord Energy will post 18.32 earnings per share for the current fiscal year.

Analyst Ratings Changes

CHRD has been the subject of a number of recent analyst reports. Williams Trading set a $189.00 price objective on Chord Energy in a research report on Monday, April 20th. Citigroup reduced their target price on Chord Energy from $155.00 to $130.00 and set a “neutral” rating on the stock in a research report on Friday, July 10th. Morgan Stanley decreased their price target on Chord Energy from $175.00 to $169.00 and set an “overweight” rating for the company in a research note on Monday, June 29th. Wells Fargo & Company raised their price target on Chord Energy from $136.00 to $175.00 and gave the stock an “overweight” rating in a report on Wednesday, April 8th. Finally, Truist Financial dropped their price target on Chord Energy from $185.00 to $170.00 and set a “buy” rating on the stock in a research note on Tuesday, July 7th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $152.38.

About Chord Energy

Chord Energy Corporation (NASDAQ: CHRD), formerly known as Oasis Petroleum Inc, is an independent exploration and production company focused on the acquisition, development and production of crude oil, natural gas and natural gas liquids. Headquartered in Houston, Texas, Chord Energy emerged from financial restructuring in early 2021 and rebranded in October 2022 to reflect its renewed strategic vision.

The company’s core operations are concentrated in two prolific U.S. resource plays: the Williston Basin across North Dakota and Montana, and the Delaware Basin spanning parts of West Texas and southeastern New Mexico.