Chord Energy (NASDAQ:CHRD) Announces Earnings Results

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

Chord Energy Trading Up 0.7 %

Chord Energy stock opened at $181.57 on Friday. Chord Energy has a one year low of $137.78 and a one year high of $190.23. The stock has a market cap of $7.54 billion, a PE ratio of 7.72 and a beta of 1.07. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.16 and a current ratio of 1.22. The stock has a 50-day moving average of $175.79 and a two-hundred day moving average of $166.13.

Chord Energy Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 5th. Investors of record on Wednesday, May 22nd will be given a dividend of $2.94 per share. This represents a $11.76 annualized dividend and a yield of 6.48%. The ex-dividend date of this dividend is Tuesday, May 21st. Chord Energy’s dividend payout ratio is currently 21.25%.

Analyst Upgrades and Downgrades

CHRD has been the subject of a number of recent research reports. Stifel Nicolaus boosted their price objective 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. Truist Financial dropped their target price 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. Mizuho raised their price objective on Chord Energy from $189.00 to $195.00 and gave the company a “buy” rating in a research report on Thursday, March 14th. Royal Bank of Canada boosted their target price on shares of Chord Energy from $180.00 to $200.00 and gave the stock an “outperform” rating in a report on Monday, April 29th. Finally, Piper Sandler increased their price target on Chord Energy from $219.00 to $230.00 and gave the company an “overweight” rating in a report on Friday, April 19th. One analyst has rated the stock with a sell rating, one has given a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $193.50.

Insider Activity

In other Chord Energy news, CFO Michael H. Lou sold 3,000 shares of Chord Energy stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $165.00, for a total transaction of $495,000.00. Following the completion of the transaction, the chief financial officer now owns 128,209 shares in the company, valued at approximately $21,154,485. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.70% of the company’s stock.

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.