Chord Energy (NASDAQ:CHRD) Announces Earnings Results

Chord Energy (NASDAQ:CHRD) announced its quarterly earnings data on Wednesday. The company reported $3.40 earnings per share for the quarter, missing analysts’ consensus estimates of $3.63 by ($0.23), Briefing.com reports. The company had revenue of $1.12 billion for the quarter, compared to the consensus estimate of $1.26 billion. Chord Energy had a net margin of 19.74% and a return on equity of 14.12%. The company’s quarterly revenue was up 33.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $5.04 EPS.

Chord Energy Price Performance

Chord Energy stock traded down $0.85 during midday trading on Friday, reaching $132.01. The company had a trading volume of 812,293 shares, compared to its average volume of 807,586. Chord Energy has a 12-month low of $123.30 and a 12-month high of $190.23. The firm’s fifty day simple moving average is $132.26 and its 200-day simple moving average is $156.35. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.96 and a quick ratio of 0.91. The company has a market capitalization of $8.17 billion, a P/E ratio of 6.80, a P/E/G ratio of 5.12 and a beta of 0.98.

Chord Energy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Wednesday, November 27th will be paid a dividend of $1.25 per share. The ex-dividend date is Wednesday, November 27th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 3.79%. Chord Energy’s dividend payout ratio is currently 25.75%.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. Royal Bank of Canada reiterated an “outperform” rating and issued a $200.00 target price on shares of Chord Energy in a report on Friday, September 20th. Siebert Williams Shank raised shares of Chord Energy to a “strong-buy” rating in a report on Tuesday, October 15th. Truist Financial decreased their price objective on shares of Chord Energy from $223.00 to $185.00 and set a “buy” rating for the company in a research report on Monday, September 30th. BMO Capital Markets lowered their price target on Chord Energy from $205.00 to $175.00 and set an “outperform” rating for the company in a research report on Friday, October 4th. Finally, Citigroup dropped their price objective on shares of Chord Energy from $195.00 to $180.00 and set a “buy” rating on the stock in a report on Monday, August 12th. Two research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $190.18.

Insider Buying and Selling at Chord Energy

In other news, Director Samantha Holroyd purchased 500 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The stock was purchased 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 of the company’s stock, valued at $2,155,485.67. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 0.70% of the company’s stock.

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.