Chord Energy Corporation (NASDAQ:CHRD) Shareholders Set to Receive $1.30 Quarterly Dividend

Chord Energy Corporation (NASDAQ:CHRD) declared a quarterly dividend on Wednesday, November 4th. Stockholders of record on Thursday, November 19th will be paid a dividend of $1.30 per share on Monday, December 7th. This represents a $5.20 annualized dividend and a dividend yield of 3.9%. The ex-dividend date of this dividend is Thursday, November 19th.

Chord Energy has a dividend payout ratio of 53.7% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Chord Energy to earn $20.02 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 26.0%.

Chord Energy Price Performance

Shares of CHRD opened at $132.33 on Thursday. The firm has a market capitalization of $7.24 billion, a price-to-earnings ratio of 9.83 and a beta of 0.48. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.15 and a current ratio of 1.22. The stock’s fifty day moving average is $145.76 and its 200-day moving average is $131.45. Chord Energy has a one year low of $84.25 and a one year high of $159.96.

Chord Energy (NASDAQ:CHRD) last issued its quarterly earnings results on Wednesday, November 4th. The company reported $6.08 earnings per share for the quarter, topping analysts’ consensus estimates of $5.68 by $0.40. The company had revenue of $1.71 billion during the quarter, compared to analyst estimates of $1.64 billion. Chord Energy had a net margin of 13.42% and a return on equity of 10.18%. The business’s revenue for the quarter was up 30.0% compared to the same quarter last year. During the same period in the prior year, the business posted $2.35 EPS. Equities analysts anticipate that Chord Energy will post 23.11 EPS for the current year.

Insider Transactions at Chord Energy

In other news, Director Samantha Mckinney sold 9,750 shares of the stock in a transaction that occurred 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 completion of the sale, the director directly owned 7,280 shares of the company’s stock, valued at approximately $1,091,563.20. This represents a 57.25% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Shannon Kinney sold 4,019 shares of the stock in a transaction on 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 sale, the executive vice president directly owned 13,560 shares of the company’s stock, valued at approximately $1,898,400. This trade represents a 22.86% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 23,969 shares of company stock worth $3,389,599 over the last three months. 0.79% of the stock is currently owned by insiders.

Institutional Trading of Chord Energy

Institutional investors have recently made changes to their positions in the business. Keybank National Association OH grew its stake in shares of Chord Energy by 15.4% in the 3rd quarter. Keybank National Association OH now owns 4,227 shares of the company’s stock valued at $567,000 after purchasing an additional 563 shares during the period. AlphaCore Capital LLC bought a new stake in Chord Energy during the 3rd quarter worth approximately $238,000. Brighton Jones LLC grew its position in Chord Energy by 34.8% during the 3rd quarter. Brighton Jones LLC now owns 2,542 shares of the company’s stock worth $341,000 after acquiring an additional 656 shares during the last quarter. Ethic Inc. increased its holdings in Chord Energy by 85.6% during the 3rd quarter. Ethic Inc. now owns 5,061 shares of the company’s stock valued at $679,000 after purchasing an additional 2,334 shares in the last quarter. Finally, Pictet Asset Management Holding SA increased its holdings in Chord Energy by 7.7% during the 3rd quarter. Pictet Asset Management Holding SA now owns 9,257 shares of the company’s stock valued at $1,241,000 after purchasing an additional 658 shares in the last quarter. 97.76% of the stock is currently owned by institutional investors and hedge funds.

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.