Capital One Financial Comments on Chord Energy Co.’s Q3 2024 Earnings (NASDAQ:CHRD)

Chord Energy Co. (NASDAQ:CHRD) – Investment analysts at Capital One Financial dropped their Q3 2024 EPS estimates for shares of Chord Energy in a report released on Tuesday, September 17th. Capital One Financial analyst P. Johnston now forecasts that the company will post earnings of $4.39 per share for the quarter, down from their prior estimate of $5.26. The consensus estimate for Chord Energy’s current full-year earnings is $19.67 per share. Capital One Financial also issued estimates for Chord Energy’s Q4 2024 earnings at $3.85 EPS, FY2024 earnings at $18.05 EPS, Q1 2025 earnings at $3.29 EPS, Q2 2025 earnings at $3.72 EPS, Q3 2025 earnings at $4.11 EPS, Q4 2025 earnings at $4.40 EPS, FY2025 earnings at $15.52 EPS and FY2026 earnings at $18.66 EPS.

CHRD has been the subject of several other reports. Jefferies Financial Group assumed 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. Citigroup reduced their price objective on Chord Energy from $195.00 to $180.00 and set a “buy” rating for the company in a research note on Monday, August 12th. Bank of America lifted their target price on Chord Energy from $201.00 to $208.00 and gave the stock a “buy” rating in a research note on Wednesday, August 21st. Piper Sandler reduced their price target on shares of Chord Energy from $234.00 to $206.00 and set an “overweight” rating for the company in a research report on Thursday, August 15th. Finally, BMO Capital Markets started coverage on shares of Chord Energy in a research report on Monday, June 3rd. They issued an “outperform” rating and a $230.00 price objective on the stock. Two investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, Chord Energy presently has an average rating of “Moderate Buy” and an average price target of $202.10.

Chord Energy Trading Up 0.3 %

Shares of CHRD stock opened at $136.73 on Friday. Chord Energy has a 52-week low of $129.75 and a 52-week high of $190.23. The company has a 50-day simple moving average of $152.80 and a two-hundred day simple moving average of $167.18. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.91 and a current ratio of 0.96. The company has a market capitalization of $5.70 billion, a price-to-earnings ratio of 6.42, a PEG ratio of 4.48 and a beta of 0.99.

Chord Energy (NASDAQ:CHRD) last posted its earnings results on Wednesday, August 7th. The company reported $4.69 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.00 by ($0.31). Chord Energy had a return on equity of 15.06% and a net margin of 20.83%. The firm had revenue of $902.70 million during the quarter, compared to the consensus estimate of $982.43 million. During the same quarter in the previous year, the company earned $3.65 EPS. The business’s revenue was up 29.8% compared to the same quarter last year.

Hedge Funds Weigh In On Chord Energy

Several hedge funds have recently bought and sold shares of CHRD. Rise Advisors LLC bought a new position in Chord Energy in the 1st quarter valued at $31,000. Ashton Thomas Private Wealth LLC purchased a new position in Chord Energy during the second quarter worth about $40,000. Benjamin F. Edwards & Company Inc. grew its position in Chord Energy by 125.9% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 244 shares of the company’s stock worth $41,000 after buying an additional 136 shares in the last quarter. GAMMA Investing LLC increased its stake in Chord Energy by 151.6% in the 2nd quarter. GAMMA Investing LLC now owns 317 shares of the company’s stock worth $53,000 after acquiring an additional 191 shares during the last quarter. Finally, Atlas Capital Advisors LLC purchased a new stake in shares of Chord Energy in the 2nd quarter valued at about $60,000. Hedge funds and other institutional investors own 97.76% of the company’s stock.

Insiders Place Their Bets

In related news, Director Samantha Holroyd purchased 500 shares of Chord Energy stock in a transaction dated Friday, August 23rd. The stock was bought at an average cost of $149.51 per share, for a total transaction of $74,755.00. Following the completion of the transaction, the director now owns 14,417 shares in the company, valued at $2,155,485.67. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.70% of the company’s stock.

Chord Energy Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 5th. Shareholders of record on Wednesday, August 21st were issued a dividend of $1.25 per share. The ex-dividend date of this dividend was Wednesday, August 21st. This represents a $5.00 dividend on an annualized basis and a yield of 3.66%. Chord Energy’s payout ratio is 23.46%.

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.