Chord Energy (NASDAQ:CHRD) Posts Earnings Results

Chord Energy (NASDAQ:CHRD) released its quarterly earnings results on Wednesday. The company reported $6.08 EPS for the quarter, topping analysts’ consensus estimates of $5.68 by $0.40, Zacks reports. The company had revenue of $1.71 billion for the quarter, compared to the consensus estimate of $1.64 billion. Chord Energy had a net margin of 13.40% and a return on equity of 12.58%. Chord Energy’s revenue was up 30.0% on a year-over-year basis. During the same period in the previous year, the firm earned $2.35 EPS.

Chord Energy Stock Performance

Shares of CHRD traded up $4.23 on Friday, reaching $136.68. 238,989 shares of the stock traded hands, compared to its average volume of 855,360. The stock’s 50-day moving average price is $145.61 and its 200-day moving average price is $131.65. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.22 and a quick ratio of 1.15. The firm has a market cap of $7.48 billion, a price-to-earnings ratio of 8.57 and a beta of 0.48. Chord Energy has a 12 month low of $84.41 and a 12 month high of $159.96.

Chord Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 7th. Investors of record on Thursday, November 19th will be paid a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a yield of 3.8%. The ex-dividend date is Thursday, November 19th. Chord Energy’s payout ratio is currently 32.60%.

Insider Transactions at Chord Energy

In other Chord Energy news, Director Samantha Mckinney sold 9,750 shares of the company’s stock in a transaction on Tuesday, September 1st. The stock was sold at an average price of $149.94, for a total value of $1,461,915.00. Following the sale, the director directly owned 7,280 shares in the company, valued at $1,091,563.20. This represents a 57.25% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Shannon Kinney sold 4,019 shares of the business’s stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $140.00, for a total transaction of $562,660.00. Following the completion of the transaction, the executive vice president owned 13,560 shares in the company, valued at approximately $1,898,400. This trade represents a 22.86% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 15,969 shares of company stock valued at $2,324,479 over the last ninety days. 0.79% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on CHRD shares. Jefferies Financial Group increased their price objective on Chord Energy from $133.00 to $150.00 and gave the stock a “hold” rating in a report on Friday, September 18th. Citigroup boosted their target price on Chord Energy from $130.00 to $150.00 and gave the company a “neutral” rating in a research note on Thursday, September 17th. Roth Capital reaffirmed a “buy” rating and issued a $165.00 target price on shares of Chord Energy in a research report on Monday, October 19th. Stifel Nicolaus initiated coverage on Chord Energy in a research note on Thursday, September 10th. They set a “buy” rating and a $182.00 price target for the company. Finally, Truist Financial lifted their price target on Chord Energy from $180.00 to $195.00 and gave the company a “buy” rating in a report on Monday, October 12th. Two research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $174.46.

Chord Energy Company Profile

Chord Energy Corporation is an independent exploration and production company focused on the development and operation of oil and natural gas properties in the United States. Its portfolio is concentrated in the Williston Basin, which spans parts of North Dakota and Montana. The company’s production mix includes crude oil, natural gas and natural gas liquids.

Chord’s operations include acquiring, developing and producing hydrocarbons from operated and non-operated wells, with an emphasis on drilling and completion activities in the Bakken and Three Forks formations.