Chord Energy (NASDAQ:CHRD) Announces Quarterly Earnings Results

Chord Energy (NASDAQ:CHRD) released its quarterly earnings data on Tuesday. The company reported $5.10 earnings per share for the quarter, topping analysts’ consensus estimates of $4.75 by $0.35, Briefing.com reports. The firm had revenue of $1.09 billion for the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same quarter in the prior year, the business earned $4.50 earnings per share.

Chord Energy Price Performance

Shares of NASDAQ:CHRD traded up $1.75 during trading on Wednesday, reaching $180.43. The stock had a trading volume of 126,886 shares, compared to its average volume of 657,067. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.16 and a current ratio of 1.22. Chord Energy has a 1-year low of $137.78 and a 1-year high of $190.23. The stock has a market cap of $7.50 billion, a PE ratio of 7.59 and a beta of 1.07. The business has a fifty day moving average price of $175.04 and a 200-day moving average price of $165.92.

Chord Energy Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 19th. Shareholders of record on Tuesday, March 5th were issued a dividend of $3.25 per share. The ex-dividend date was Monday, March 4th. This represents a $13.00 dividend on an annualized basis and a dividend yield of 7.21%. This is a boost from Chord Energy’s previous quarterly dividend of $1.25. Chord Energy’s dividend payout ratio is presently 21.25%.

Insider Activity at Chord Energy

In other Chord Energy news, CFO Michael H. Lou sold 3,000 shares of Chord Energy stock in a transaction on Friday, February 16th. The shares were sold at an average price of $165.00, for a total transaction of $495,000.00. Following the sale, the chief financial officer now owns 128,209 shares of the company’s stock, valued at approximately $21,154,485. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.70% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Mizuho boosted their price objective on Chord Energy from $189.00 to $195.00 and gave the company a “buy” rating in a report on Thursday, March 14th. Piper Sandler lifted their target price on shares of Chord Energy from $219.00 to $230.00 and gave the company an “overweight” rating in a report on Friday, April 19th. 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 report on Monday, April 29th. Truist Financial cut their price objective on shares of Chord Energy from $229.00 to $224.00 and set a “buy” rating for the company in a report on Friday, April 5th. Finally, Stifel Nicolaus increased their target price 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 investment analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average 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.