Chord Energy (NASDAQ:CHRD) Releases Quarterly Earnings Results, Beats Expectations By $0.35 EPS

Chord Energy (NASDAQ:CHRD) released its quarterly earnings data on Tuesday. The company reported $5.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.75 by $0.35, Briefing.com reports. The business had revenue of $1.09 billion for the quarter, compared to analysts’ expectations of $771.87 million. Chord Energy had a return on equity of 16.35% and a net margin of 26.27%. Chord Energy’s quarterly revenue was up 24.8% on a year-over-year basis. During the same period in the previous year, the business posted $4.50 earnings per share.

Chord Energy Stock Up 0.9 %

Shares of NASDAQ:CHRD opened at $180.22 on Thursday. The company has a quick ratio of 1.16, a current ratio of 1.22 and a debt-to-equity ratio of 0.08. The firm has a market cap of $7.49 billion, a P/E ratio of 7.66 and a beta of 1.07. Chord Energy has a 12 month low of $137.78 and a 12 month high of $190.23. The company’s 50-day moving average price is $175.41 and its two-hundred day moving average price is $166.02.

Chord Energy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 19th. Stockholders of record on Tuesday, March 5th were issued a dividend of $3.25 per share. This represents a $13.00 annualized dividend and a dividend yield of 7.21%. The ex-dividend date of this dividend was Monday, March 4th. This is a boost from Chord Energy’s previous quarterly dividend of $1.25. Chord Energy’s dividend payout ratio is presently 21.25%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on CHRD. Piper Sandler lifted their price target on shares of Chord Energy from $219.00 to $230.00 and gave the stock an “overweight” rating in a research note on Friday, April 19th. Truist Financial lowered their target price on shares of Chord Energy from $229.00 to $224.00 and set a “buy” rating on the stock in a research note on Friday, April 5th. Stifel Nicolaus raised their price target on shares of Chord Energy from $178.00 to $211.00 and gave the stock a “buy” rating in a research note on Tuesday, February 27th. Royal Bank of Canada lifted their price objective on Chord Energy from $180.00 to $200.00 and gave the company an “outperform” rating in a report on Monday, April 29th. Finally, Mizuho increased their target price on Chord Energy from $189.00 to $195.00 and gave the stock a “buy” rating in a report on Thursday, March 14th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $193.50.

Insider Buying and Selling at Chord Energy

In other news, CFO Michael H. Lou sold 3,000 shares of the company’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $165.00, for a total transaction of $495,000.00. Following the transaction, the chief financial officer now directly owns 128,209 shares in the company, valued at $21,154,485. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate 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.