Chord Energy Co. (NASDAQ:CHRD) Plans Quarterly Dividend of $1.25

Chord Energy Co. (NASDAQ:CHRD) announced a quarterly dividend on Wednesday, August 7th, Zacks reports. Investors of record on Wednesday, August 21st will be paid a dividend of 1.25 per share on Thursday, September 5th. This represents a $5.00 annualized dividend and a yield of 3.29%. The ex-dividend date is Wednesday, August 21st.

Chord Energy has a dividend payout ratio of 24.6% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Chord Energy to earn $21.88 per share next year, which means the company should continue to be able to cover its $5.00 annual dividend with an expected future payout ratio of 22.9%.

Chord Energy Stock Up 0.7 %

Chord Energy stock traded up $1.01 during trading hours on Friday, hitting $152.07. The stock had a trading volume of 130,013 shares, compared to its average volume of 907,784. The stock’s 50-day moving average price is $168.89 and its 200-day moving average price is $170.19. The stock has a market capitalization of $6.34 billion, a P/E ratio of 7.09, a price-to-earnings-growth ratio of 0.92 and a beta of 1.01. Chord Energy has a 12-month low of $145.53 and a 12-month high of $190.23. The company has a quick ratio of 1.07, a current ratio of 1.14 and a debt-to-equity ratio of 0.08.

Chord Energy (NASDAQ:CHRD) last announced its quarterly earnings results on Wednesday, August 7th. The company reported $4.69 earnings per share for the quarter, missing the consensus estimate of $5.00 by ($0.31). The firm had revenue of $902.70 million for the quarter, compared to the consensus estimate of $982.43 million. Chord Energy had a net margin of 22.67% and a return on equity of 16.57%. Chord Energy’s revenue was up 29.8% on a year-over-year basis. During the same period last year, the business earned $3.65 EPS. Equities research analysts anticipate that Chord Energy will post 20.85 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

CHRD has been the topic of several recent analyst reports. Wolfe Research assumed coverage on Chord Energy in a research report on Thursday, July 18th. They set a “peer perform” rating on the stock. BMO Capital Markets started coverage on shares of Chord Energy in a report on Monday, June 3rd. They set an “outperform” rating and a $230.00 price target on the stock. Royal Bank of Canada lifted their price target on shares of Chord Energy from $180.00 to $200.00 and gave the stock an “outperform” rating in a research note on Monday, April 29th. Mizuho increased their price objective on shares of Chord Energy from $195.00 to $214.00 and gave the company a “buy” rating in a research report on Monday, May 13th. Finally, Piper Sandler lifted their target price on shares of Chord Energy from $233.00 to $234.00 and gave the stock an “overweight” rating in a research report on Thursday, July 18th. One analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $210.78.

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.