Chord Energy (NASDAQ:CHRD) Announces Earnings Results

Chord Energy (NASDAQ:CHRD) issued its earnings results on Tuesday. The company reported $5.10 EPS for the quarter, topping analysts’ consensus estimates of $4.75 by $0.35, Briefing.com reports. Chord Energy had a net margin of 26.27% and a return on equity of 16.35%. The company had revenue of $1.09 billion for the quarter, compared to the consensus estimate of $771.87 million. During the same period in the previous year, the firm earned $4.50 earnings per share. Chord Energy’s quarterly revenue was up 24.8% compared to the same quarter last year.

Chord Energy Stock Performance

NASDAQ CHRD traded up $3.52 during trading hours on Wednesday, hitting $182.20. The company had a trading volume of 191,028 shares, compared to its average volume of 657,360. 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 company has a market cap of $7.57 billion, a PE ratio of 7.59 and a beta of 1.07. The business has a 50 day moving average of $175.04 and a 200-day moving average of $165.92.

Chord Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 19th. Shareholders of record on Tuesday, March 5th were paid a $3.25 dividend. This represents a $13.00 annualized dividend and a yield of 7.14%. The ex-dividend date of this dividend was Monday, March 4th. This is an increase from Chord Energy’s previous quarterly dividend of $1.25. Chord Energy’s dividend payout ratio is currently 21.25%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Piper Sandler lifted their target price on shares of Chord Energy from $219.00 to $230.00 and gave the stock an “overweight” rating in a research note on Friday, April 19th. Royal Bank of Canada lifted their price target on shares of Chord Energy from $180.00 to $200.00 and gave the company an “outperform” rating in a research report on Monday, April 29th. Stifel Nicolaus lifted their price target on shares of Chord Energy from $178.00 to $211.00 and gave the company a “buy” rating in a research report on Tuesday, February 27th. Mizuho lifted their price target on shares of Chord Energy from $189.00 to $195.00 and gave the company a “buy” rating in a research report on Thursday, March 14th. Finally, Truist Financial dropped their price target on shares of Chord Energy from $229.00 to $224.00 and set a “buy” rating for the company in a research report on Friday, April 5th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $193.50.

Insider Buying and Selling at Chord Energy

In other news, CFO Michael H. Lou sold 3,000 shares of the company’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $165.00, for a total value of $495,000.00. Following the completion of the sale, the chief financial officer now directly owns 128,209 shares of the company’s stock, valued at $21,154,485. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.70% of the stock is currently owned by insiders.

About Chord Energy

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.