Chord Energy Co. (NASDAQ:CHRD) Forecasted to Earn Q3 2023 Earnings of $5.12 Per Share

Chord Energy Co. (NASDAQ:CHRD – Get Rating) – Investment analysts at Capital One Financial upped their Q3 2023 earnings per share estimates for shares of Chord Energy in a research note issued on Monday, May 22nd. Capital One Financial analyst P. Johnston now anticipates that the company will post earnings per share of $5.12 for the quarter, up from their previous estimate of $4.91. The consensus estimate for Chord Energy’s current full-year earnings is $21.39 per share. Capital One Financial also issued estimates for Chord Energy’s Q4 2023 earnings at $5.38 EPS, FY2023 earnings at $19.70 EPS, Q1 2024 earnings at $5.61 EPS, Q2 2024 earnings at $5.80 EPS, Q3 2024 earnings at $6.01 EPS, Q4 2024 earnings at $6.06 EPS and FY2024 earnings at $23.47 EPS.

A number of other research analysts have also weighed in on the company. Stifel Nicolaus reduced their price objective on Chord Energy from $185.00 to $182.00 in a research report on Monday. Truist Financial reduced their target price on Chord Energy from $252.00 to $246.00 in a report on Monday, May 8th. Piper Sandler reduced their target price on Chord Energy from $213.00 to $204.00 in a report on Thursday, May 18th. Mizuho dropped their price target on Chord Energy from $179.00 to $172.00 in a research note on Friday, May 19th. Finally, Citigroup dropped their price target on Chord Energy from $170.00 to $165.00 in a research note on Sunday, May 21st. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $187.38.

Chord Energy Stock Down 1.3 %

CHRD stock opened at $149.46 on Thursday. Chord Energy has a twelve month low of $93.35 and a twelve month high of $181.34. The company has a quick ratio of 1.13, a current ratio of 1.18 and a debt-to-equity ratio of 0.08. The firm has a market cap of $6.21 billion, a PE ratio of 3.54, a price-to-earnings-growth ratio of 0.36 and a beta of 1.36. The business has a 50 day moving average of $139.09 and a 200 day moving average of $139.84.

Chord Energy (NASDAQ:CHRD – Get Rating) last announced its earnings results on Wednesday, February 22nd. The company reported $5.28 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.89 by ($0.61). Chord Energy had a return on equity of 23.51% and a net margin of 43.37%. The firm had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $875.33 million.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the business. Crewe Advisors LLC purchased a new stake in shares of Chord Energy in the fourth quarter valued at approximately $25,000. Armstrong Advisory Group Inc. purchased a new stake in shares of Chord Energy in the fourth quarter valued at approximately $25,000. FinTrust Capital Advisors LLC purchased a new stake in shares of Chord Energy in the fourth quarter valued at approximately $28,000. Fifth Third Bancorp purchased a new stake in shares of Chord Energy in the fourth quarter valued at approximately $29,000. Finally, Assetmark Inc. purchased a new stake in shares of Chord Energy in the first quarter valued at approximately $30,000. Hedge funds and other institutional investors own 93.47% of the company’s stock.

Insiders Place Their Bets

In other Chord Energy news, Director Lynn A. Peterson sold 3,000 shares of the business’s stock in a transaction that occurred on Monday, April 17th. The stock was sold at an average price of $144.94, for a total transaction of $434,820.00. Following the sale, the director now directly owns 238,098 shares of the company’s stock, valued at $34,509,924.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have sold 9,000 shares of company stock valued at $1,282,590 over the last ninety days. 0.52% of the stock is owned by insiders.

Chord Energy Cuts Dividend

The business also recently disclosed a None dividend, which will be paid on Tuesday, May 30th. Shareholders of record on Tuesday, May 16th will be paid a dividend of $3.22 per share. The ex-dividend date is Monday, May 15th. This represents a yield of 3.5%. Chord Energy’s payout ratio is currently 11.85%.

Chord Energy Company Profile

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Chord Energy Corporation operates as an independent exploration and production company. It acquires, exploits, develops, and explores for crude oil, natural gas, and natural gas liquids in the Williston Basin. The company was founded in 2007 and is headquartered in Houston, Texas.