Chord Energy FY2024 EPS Cut by Capital One Financial

Chord Energy Co. (NASDAQ:CHRD) – Equities research analysts at Capital One Financial reduced their FY2024 earnings per share (EPS) estimates for shares of Chord Energy in a report issued on Tuesday, November 12th. Capital One Financial analyst P. Johnston now anticipates that the company will earn $16.10 per share for the year, down from their previous forecast of $16.45. The consensus estimate for Chord Energy’s current full-year earnings is $16.87 per share. Capital One Financial also issued estimates for Chord Energy’s Q4 2024 earnings at $2.89 EPS and Q1 2025 earnings at $2.51 EPS.

Chord Energy (NASDAQ:CHRD) last posted its earnings results on Wednesday, November 6th. The company reported $3.40 EPS for the quarter, missing analysts’ consensus estimates of $3.63 by ($0.23). The company had revenue of $1.12 billion during the quarter, compared to the consensus estimate of $1.26 billion. Chord Energy had a return on equity of 12.88% and a net margin of 19.74%. The firm’s revenue was up 33.4% compared to the same quarter last year. During the same period last year, the company posted $5.04 EPS.

Several other equities research analysts also recently weighed in on CHRD. UBS Group started coverage on Chord Energy in a report on Wednesday, October 16th. They set a “buy” rating and a $168.00 price objective on the stock. Piper Sandler boosted their price target on Chord Energy from $206.00 to $211.00 and gave the stock an “overweight” rating in a report on Tuesday, October 15th. Wells Fargo & Company dropped their price objective on shares of Chord Energy from $185.00 to $180.00 and set an “overweight” rating for the company in a report on Wednesday, October 16th. Jefferies Financial Group assumed coverage on shares of Chord Energy in a research report on Thursday, September 5th. They set a “hold” rating and a $160.00 target price on the stock. Finally, Siebert Williams Shank upgraded shares of Chord Energy to a “strong-buy” rating in a research report on Tuesday, October 15th. Two investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $190.18.

Chord Energy Stock Performance

Shares of Chord Energy stock opened at $127.28 on Friday. The company’s 50 day moving average price is $131.20 and its two-hundred day moving average price is $154.45. The firm has a market capitalization of $7.78 billion, a P/E ratio of 6.55, a P/E/G ratio of 5.07 and a beta of 0.98. Chord Energy has a fifty-two week low of $123.30 and a fifty-two week high of $190.23. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.93 and a quick ratio of 0.89.

Chord Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Wednesday, November 27th will be issued a $1.25 dividend. The ex-dividend date is Wednesday, November 27th. This represents a $5.00 annualized dividend and a yield of 3.93%. Chord Energy’s payout ratio is 25.75%.

Insider Buying and Selling at Chord Energy

In other Chord Energy news, Director Samantha Holroyd purchased 500 shares of the company’s stock in a transaction on Friday, August 23rd. The shares were purchased at an average cost of $149.51 per share, with a total value of $74,755.00. Following the completion of the purchase, the director now owns 14,417 shares in the company, valued at $2,155,485.67. This represents a 3.59 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.70% of the company’s stock.

Institutional Investors Weigh In On Chord Energy

A number of hedge funds have recently added to or reduced their stakes in the company. Hexagon Capital Partners LLC lifted its holdings in shares of Chord Energy by 462.9% in the 3rd quarter. Hexagon Capital Partners LLC now owns 197 shares of the company’s stock worth $26,000 after purchasing an additional 162 shares in the last quarter. Stone House Investment Management LLC acquired a new position in Chord Energy during the third quarter worth $26,000. UMB Bank n.a. raised its holdings in Chord Energy by 77.7% during the third quarter. UMB Bank n.a. now owns 231 shares of the company’s stock worth $30,000 after buying an additional 101 shares during the last quarter. Spartan Fund Management Inc. acquired a new position in shares of Chord Energy during the third quarter valued at about $34,000. Finally, Ashton Thomas Private Wealth LLC bought a new stake in shares of Chord Energy during the second quarter worth about $40,000. Institutional investors and hedge funds own 97.76% of the company’s stock.

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.