Chord Energy (NASDAQ:CHRD) Issues Quarterly Earnings Results

Chord Energy (NASDAQ:CHRD) issued its earnings results on Wednesday. The company reported $3.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.63 by ($0.23), Briefing.com reports. The company had revenue of $1.12 billion during the quarter, compared to analysts’ expectations of $1.26 billion. Chord Energy had a net margin of 20.83% and a return on equity of 15.06%. The firm’s quarterly revenue was up 33.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $5.04 earnings per share.

Chord Energy Trading Up 0.7 %

CHRD traded up $0.90 during mid-day trading on Thursday, hitting $132.86. 1,425,771 shares of the stock were exchanged, compared to its average volume of 883,221. The firm’s fifty day moving average is $132.91 and its two-hundred day moving average is $156.86. Chord Energy has a 1-year low of $123.30 and a 1-year high of $190.23. The company has a current ratio of 0.96, a quick ratio of 0.91 and a debt-to-equity ratio of 0.11. The company has a market cap of $8.22 billion, a PE ratio of 6.45, a PEG ratio of 4.86 and a beta of 0.98.

Insider Buying and Selling

In other news, Director Samantha Holroyd bought 500 shares of the firm’s stock in a transaction that occurred on Friday, August 23rd. The shares were purchased at an average price of $149.51 per share, with a total value of $74,755.00. Following the purchase, the director now owns 14,417 shares in the company, valued at approximately $2,155,485.67. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.70% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts have issued reports on CHRD shares. Jefferies Financial Group started coverage on Chord Energy in a report on Thursday, September 5th. They issued a “hold” rating and a $160.00 target price for the company. BMO Capital Markets dropped their target price on Chord Energy from $205.00 to $175.00 and set an “outperform” rating for the company in a report on Friday, October 4th. Bank of America upped their price target on Chord Energy from $201.00 to $208.00 and gave the company a “buy” rating in a research note on Wednesday, August 21st. Truist Financial decreased their price target on Chord Energy from $223.00 to $185.00 and set a “buy” rating on the stock in a research note on Monday, September 30th. Finally, Wolfe Research initiated coverage on Chord Energy in a research note on Thursday, July 18th. They issued a “peer perform” rating on the stock. Two equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $190.18.

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.