Chord Energy Co. (CHRD) to Issue Quarterly Dividend of $1.30 on March 26th

Chord Energy Co. (NASDAQ:CHRD) announced a quarterly dividend on Wednesday, February 26th, Wall Street Journal reports. Stockholders of record on Tuesday, March 11th will be given a dividend of 1.30 per share on Wednesday, March 26th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.58%. The ex-dividend date of this dividend is Tuesday, March 11th. This is a boost from Chord Energy’s previous quarterly dividend of $1.25.

Chord Energy has raised its dividend payment by an average of 34.3% per year over the last three years. Chord Energy has a dividend payout ratio of 38.9% meaning its dividend is sufficiently covered by earnings. Analysts expect Chord Energy to earn $13.13 per share next year, which means the company should continue to be able to cover its $5.20 annual dividend with an expected future payout ratio of 39.6%.

Chord Energy Stock Up 0.1 %

Shares of CHRD opened at $113.46 on Friday. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.93 and a quick ratio of 0.89. Chord Energy has a one year low of $107.24 and a one year high of $190.23. The company has a market cap of $6.94 billion, a P/E ratio of 5.84, a P/E/G ratio of 5.83 and a beta of 0.98. The firm has a 50 day simple moving average of $116.30 and a two-hundred day simple moving average of $127.15.

Insider Buying and Selling

In related news, CAO Shannon Browning Kinney sold 1,000 shares of the firm’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $116.35, for a total value of $116,350.00. Following the transaction, the chief accounting officer now owns 19,488 shares of the company’s stock, valued at approximately $2,267,428.80. This trade represents a 4.88 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.70% of the stock is currently owned by insiders.

Analyst Ratings Changes

CHRD has been the subject of a number of research reports. Wolfe Research raised shares of Chord Energy from a “peer perform” rating to an “outperform” rating and set a $155.00 target price for the company in a report on Friday, January 3rd. Mizuho cut their target price on shares of Chord Energy from $192.00 to $178.00 and set an “outperform” rating on the stock in a research report on Monday, December 16th. Piper Sandler lowered their price target on shares of Chord Energy from $194.00 to $193.00 and set an “overweight” rating for the company in a report on Wednesday, January 15th. Bank of America reiterated a “neutral” rating and issued a $138.00 price target (down from $208.00) on shares of Chord Energy in a research note on Monday, January 13th. Finally, Royal Bank of Canada lowered their target price on Chord Energy from $185.00 to $180.00 and set an “outperform” rating for the company in a report on Wednesday, November 20th. Three analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $169.92.

About Chord Energy

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.