Chord Energy (NASDAQ:CHRD) Issues Quarterly Earnings Results

Chord Energy (NASDAQ:CHRD) announced its quarterly earnings results on Wednesday. The company reported $3.40 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.63 by ($0.23), Briefing.com reports. Chord Energy had a return on equity of 15.06% and a net margin of 20.83%. The business had revenue of $1.12 billion for the quarter, compared to analyst estimates of $1.26 billion. During the same quarter last year, the firm posted $5.04 EPS. The company’s revenue was up 33.4% compared to the same quarter last year.

Chord Energy Trading Down 0.9 %

Shares of Chord Energy stock traded down $1.20 on Friday, reaching $131.66. 164,084 shares of the company were exchanged, compared to its average volume of 879,907. Chord Energy has a fifty-two week low of $123.30 and a fifty-two week high of $190.23. The firm has a market capitalization of $8.15 billion, a price-to-earnings ratio of 6.84, a price-to-earnings-growth ratio of 4.86 and a beta of 0.98. The company has a current ratio of 0.96, a quick ratio of 0.91 and a debt-to-equity ratio of 0.11. The stock has a fifty day moving average price of $132.59 and a 200-day moving average price of $156.69.

Chord Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Wednesday, November 27th will be paid a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a dividend yield of 3.80%. The ex-dividend date of this dividend is Wednesday, November 27th. Chord Energy’s dividend payout ratio is presently 25.75%.

Insider Activity at Chord Energy

In other news, Director Samantha Holroyd bought 500 shares of the company’s stock in a transaction dated Friday, August 23rd. The shares were acquired at an average cost of $149.51 per share, with a total value of $74,755.00. Following the completion of the transaction, the director now directly owns 14,417 shares in the company, valued at approximately $2,155,485.67. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.70% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

CHRD has been the topic of a number of recent analyst reports. Piper Sandler lifted their price objective on shares of Chord Energy from $206.00 to $211.00 and gave the company an “overweight” rating in a research note on Tuesday, October 15th. Wolfe Research started coverage on shares of Chord Energy in a research report on Thursday, July 18th. They set a “peer perform” rating on the stock. UBS Group initiated coverage on shares of Chord Energy in a report on Wednesday, October 16th. They issued a “buy” rating and a $168.00 price objective for the company. Royal Bank of Canada reiterated an “outperform” rating and set a $200.00 price objective on shares of Chord Energy in a research note on Friday, September 20th. Finally, Jefferies Financial Group assumed coverage on Chord Energy in a research report on Thursday, September 5th. They issued a “hold” rating and a $160.00 target price for the company. Two research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $190.18.

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.