Chord Energy (NASDAQ:CHRD) Releases Quarterly Earnings Results, Misses Expectations By $0.01 EPS

Chord Energy (NASDAQ:CHRD) released its quarterly earnings data on Wednesday. The company reported $1.28 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.29 by ($0.01), Zacks reports. The firm had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $1.03 billion. Chord Energy had a net margin of 3.31% and a return on equity of 8.27%.

Chord Energy Price Performance

Shares of NASDAQ CHRD traded down $1.22 during mid-day trading on Wednesday, hitting $103.70. 909,266 shares of the stock were exchanged, compared to its average volume of 811,074. The company has a market cap of $5.90 billion, a P/E ratio of 39.88 and a beta of 0.92. The stock’s fifty day simple moving average is $96.02 and its two-hundred day simple moving average is $96.94. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.28 and a current ratio of 1.35. Chord Energy has a twelve month low of $79.83 and a twelve month high of $116.09.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on CHRD. Citigroup lowered shares of Chord Energy from a “buy” rating to a “neutral” rating and lowered their price target for the company from $105.00 to $97.00 in a report on Wednesday, January 14th. Wall Street Zen lowered shares of Chord Energy from a “hold” rating to a “sell” rating in a research report on Saturday, November 1st. Zacks Research lowered shares of Chord Energy from a “hold” rating to a “strong sell” rating in a research report on Tuesday, January 20th. UBS Group cut their price target on shares of Chord Energy from $123.00 to $119.00 and set a “buy” rating for the company in a research note on Friday, January 9th. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of Chord Energy in a research note on Wednesday, January 21st. Eight research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Chord Energy currently has an average rating of “Moderate Buy” and a consensus target price of $123.92.

Institutional Investors Weigh In On Chord Energy

A number of large investors have recently bought and sold shares of the business. Brooklyn Investment Group increased its stake in shares of Chord Energy by 31.5% in the third quarter. Brooklyn Investment Group now owns 3,891 shares of the company’s stock valued at $387,000 after buying an additional 933 shares in the last quarter. Entropy Technologies LP acquired a new position in Chord Energy during the 3rd quarter worth about $337,000. Vise Technologies Inc. grew its holdings in Chord Energy by 36.5% during the 4th quarter. Vise Technologies Inc. now owns 3,359 shares of the company’s stock worth $311,000 after acquiring an additional 898 shares during the last quarter. iSAM Funds UK Ltd acquired a new stake in Chord Energy in the 4th quarter valued at about $300,000. Finally, NewEdge Advisors LLC raised its stake in shares of Chord Energy by 1,050.4% in the fourth quarter. NewEdge Advisors LLC now owns 2,830 shares of the company’s stock worth $262,000 after acquiring an additional 2,584 shares during the last quarter. 97.76% of the stock is currently owned by institutional investors.

Chord Energy Company Profile

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.