Chord Energy Co. Announces Quarterly Dividend of $2.94 (NASDAQ:CHRD)

Chord Energy Co. (NASDAQ:CHRD) declared a quarterly dividend on Tuesday, May 7th, Zacks reports. Investors of record on Wednesday, May 22nd will be given a dividend of 2.94 per share on Wednesday, June 5th. This represents a $11.76 annualized dividend and a yield of 6.48%. The ex-dividend date is Tuesday, May 21st.

Chord Energy has a payout ratio of 24.0% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Chord Energy to earn $22.37 per share next year, which means the company should continue to be able to cover its $5.00 annual dividend with an expected future payout ratio of 22.4%.

Chord Energy Stock Up 0.6 %

Shares of NASDAQ CHRD traded up $1.15 during mid-day trading on Thursday, reaching $181.37. 254,454 shares of the company’s stock were exchanged, compared to its average volume of 662,318. The company has a current ratio of 1.22, a quick ratio of 1.16 and a debt-to-equity ratio of 0.08. The firm has a market capitalization of $7.53 billion, a price-to-earnings ratio of 7.66 and a beta of 1.07. The business has a fifty day simple moving average of $175.41 and a 200 day simple moving average of $166.02. Chord Energy has a twelve month low of $137.78 and a twelve month high of $190.23.

Chord Energy (NASDAQ:CHRD) last announced its quarterly earnings data on Tuesday, May 7th. The company reported $5.10 earnings per share for the quarter, beating the consensus estimate of $4.75 by $0.35. Chord Energy had a return on equity of 16.35% and a net margin of 26.27%. The company had revenue of $1.09 billion during the quarter, compared to analysts’ expectations of $771.87 million. During the same quarter last year, the company earned $4.50 EPS. Chord Energy’s revenue for the quarter was up 24.8% compared to the same quarter last year. As a group, equities analysts expect that Chord Energy will post 22.03 EPS for the current fiscal year.

Insider Activity at Chord Energy

In related news, CFO Michael H. Lou sold 3,000 shares of Chord Energy stock in a transaction that occurred 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 directly owns 128,209 shares of the company’s stock, valued at approximately $21,154,485. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.70% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

CHRD has been the topic of a number of recent analyst reports. Stifel Nicolaus boosted their target price on Chord Energy from $178.00 to $211.00 and gave the stock a “buy” rating in a report on Tuesday, February 27th. Truist Financial decreased their price objective on Chord Energy from $229.00 to $224.00 and set a “buy” rating on the stock in a report on Friday, April 5th. Royal Bank of Canada lifted their price objective on shares of Chord Energy from $180.00 to $200.00 and gave the stock an “outperform” rating in a research note on Monday, April 29th. Piper Sandler increased their target price on shares of Chord Energy from $219.00 to $230.00 and gave the stock an “overweight” rating in a research report on Friday, April 19th. Finally, 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. One analyst has rated the stock with a sell rating, one has issued a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus 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.