Chord Energy (NASDAQ:CHRD) Issues Quarterly Earnings Results

Chord Energy (NASDAQ:CHRD) issued its quarterly earnings results on Tuesday. The company reported $4.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.49 by $1.07, FiscalAI reports. Chord Energy had a return on equity of 6.71% and a net margin of 0.91%.The firm had revenue of $1.67 billion during the quarter, compared to analyst estimates of $1.21 billion. During the same quarter in the previous year, the company posted $4.04 earnings per share. The company’s revenue was up 37.1% compared to the same quarter last year.

Chord Energy Trading Down 0.1%

Shares of CHRD traded down $0.09 during trading hours on Tuesday, hitting $149.16. The company had a trading volume of 709,287 shares, compared to its average volume of 878,394. The firm has a market cap of $8.46 billion, a P/E ratio of 15.78 and a beta of 0.52. The stock’s 50 day moving average price is $129.95 and its 200 day moving average price is $106.64. The company has a quick ratio of 0.98, a current ratio of 1.06 and a debt-to-equity ratio of 0.18. Chord Energy has a 52-week low of $84.25 and a 52-week high of $150.50.

Chord Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 27th. Stockholders of record on Thursday, March 12th were issued a $1.30 dividend. The ex-dividend date was Thursday, March 12th. This represents a $5.20 annualized dividend and a dividend yield of 3.5%. Chord Energy’s payout ratio is currently 825.40%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. Wells Fargo & Company lifted their price target on Chord Energy from $136.00 to $175.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 8th. Jefferies Financial Group set a $99.00 price target on Chord Energy in a research note on Saturday, January 17th. Scotiabank lifted their price target on Chord Energy from $114.00 to $135.00 and gave the stock a “sector perform” rating in a research note on Wednesday, April 22nd. Weiss Ratings raised Chord Energy from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Tuesday, March 17th. Finally, Piper Sandler lifted their price target on Chord Energy from $158.00 to $190.00 and gave the stock an “overweight” rating in a research note on Thursday, March 12th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, Chord Energy presently has an average rating of “Moderate Buy” and a consensus price target of $152.23.

Insider Buying and Selling

In other news, Director Douglas E. Brooks sold 2,126 shares of Chord Energy stock in a transaction dated Friday, March 6th. The stock was sold at an average price of $120.28, for a total value of $255,715.28. Following the transaction, the director owned 25,181 shares in the company, valued at approximately $3,028,770.68. The trade was a 7.79% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Lara J. Kroll sold 5,000 shares of Chord Energy stock in a transaction dated Tuesday, March 3rd. The stock was sold at an average price of $113.66, for a total value of $568,300.00. Following the completion of the transaction, the chief accounting officer owned 8,921 shares in the company, valued at approximately $1,013,960.86. This represents a 35.92% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 23,927 shares of company stock worth $2,912,028 in the last ninety days. Corporate insiders own 0.79% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in Chord Energy by 17.1% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 123,964 shares of the company’s stock valued at $13,973,000 after purchasing an additional 18,137 shares during the period. Focus Partners Wealth purchased a new position in Chord Energy during the 1st quarter valued at about $289,000. EverSource Wealth Advisors LLC increased its holdings in Chord Energy by 364.2% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,555 shares of the company’s stock valued at $151,000 after purchasing an additional 1,220 shares during the period. Jump Financial LLC purchased a new position in Chord Energy during the 2nd quarter valued at about $1,010,000. Finally, Gamco Investors INC. ET AL increased its holdings in Chord Energy by 108.5% during the 2nd quarter. Gamco Investors INC. ET AL now owns 10,429 shares of the company’s stock valued at $1,010,000 after purchasing an additional 5,428 shares during the period. Hedge funds and other institutional investors own 97.76% of the company’s stock.

About Chord Energy

Chord Energy Corporation (NASDAQ: CHRD), formerly known as Oasis Petroleum Inc, is an independent exploration and production company focused on the acquisition, development and production of crude oil, natural gas and natural gas liquids. Headquartered in Houston, Texas, Chord Energy emerged from financial restructuring in early 2021 and rebranded in October 2022 to reflect its renewed strategic vision.

The company’s core operations are concentrated in two prolific U.S. resource plays: the Williston Basin across North Dakota and Montana, and the Delaware Basin spanning parts of West Texas and southeastern New Mexico.