Capital One Financial Estimates Chord Energy FY2024 Earnings

Chord Energy Co. (NASDAQ:CHRD) – Equities researchers at Capital One Financial cut their FY2024 earnings per share (EPS) estimates for Chord Energy in a report released on Tuesday, November 12th. Capital One Financial analyst P. Johnston now forecasts that the company will post earnings of $16.10 per share for the year, down from their prior forecast of $16.45. The consensus estimate for Chord Energy’s current full-year earnings is $16.87 per share. Capital One Financial also issued estimates for Chord Energy’s Q4 2024 earnings at $2.89 EPS and Q1 2025 earnings at $2.51 EPS.

Chord Energy (NASDAQ:CHRD) last posted its quarterly earnings data on Wednesday, November 6th. The company reported $3.40 earnings per share for the quarter, missing the consensus estimate of $3.63 by ($0.23). The firm had revenue of $1.12 billion for the quarter, compared to the consensus estimate of $1.26 billion. Chord Energy had a return on equity of 12.88% and a net margin of 19.74%. The firm’s quarterly revenue was up 33.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $5.04 EPS.

Several other equities analysts have also recently weighed in on the company. Bank of America lifted their price objective on Chord Energy from $201.00 to $208.00 and gave the company a “buy” rating in a report on Wednesday, August 21st. Piper Sandler boosted their price target on Chord Energy from $206.00 to $211.00 and gave the company an “overweight” rating in a research note on Tuesday, October 15th. Siebert Williams Shank upgraded shares of Chord Energy to a “strong-buy” rating in a research note on Tuesday, October 15th. Wells Fargo & Company dropped their target price on shares of Chord Energy from $185.00 to $180.00 and set an “overweight” rating for the company in a research report on Wednesday, October 16th. Finally, BMO Capital Markets reduced their price target on shares of Chord Energy from $205.00 to $175.00 and set an “outperform” rating on the stock in a research report on Friday, October 4th. Two analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Chord Energy presently has an average rating of “Moderate Buy” and a consensus price target of $190.18.

Chord Energy Stock Performance

Shares of NASDAQ:CHRD opened at $130.89 on Friday. The company has a quick ratio of 0.89, a current ratio of 0.93 and a debt-to-equity ratio of 0.10. The firm has a market cap of $8.00 billion, a PE ratio of 6.74, a PEG ratio of 5.07 and a beta of 0.98. The company’s 50 day moving average price is $131.48 and its two-hundred day moving average price is $155.01. Chord Energy has a 12-month low of $123.30 and a 12-month high of $190.23.

Hedge Funds Weigh In On Chord Energy

Hedge funds have recently made changes to their positions in the stock. Hexagon Capital Partners LLC boosted its holdings in Chord Energy by 462.9% in the third quarter. Hexagon Capital Partners LLC now owns 197 shares of the company’s stock valued at $26,000 after acquiring an additional 162 shares during the last quarter. Stone House Investment Management LLC bought a new stake in shares of Chord Energy in the 3rd quarter valued at $26,000. UMB Bank n.a. increased its position in shares of Chord Energy by 77.7% during the third quarter. UMB Bank n.a. now owns 231 shares of the company’s stock worth $30,000 after buying an additional 101 shares during the period. Spartan Fund Management Inc. bought a new position in Chord Energy during the third quarter worth $34,000. Finally, Ashton Thomas Private Wealth LLC bought a new stake in Chord Energy during the second quarter valued at $40,000. 97.76% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, Director Samantha Holroyd bought 500 shares of the business’s stock in a transaction on Friday, August 23rd. The shares were purchased at an average cost of $149.51 per share, with a total value of $74,755.00. Following the acquisition, the director now owns 14,417 shares of the company’s stock, valued at $2,155,485.67. This represents a 3.59 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.70% of the stock is currently owned by insiders.

Chord Energy Dividend Announcement

The firm also recently declared 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. This represents a $5.00 annualized dividend and a dividend yield of 3.82%. The ex-dividend date is Wednesday, November 27th. Chord Energy’s payout ratio is currently 25.75%.

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.