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

Chord Energy Co. (NASDAQ:CHRD) announced a quarterly dividend on Wednesday, November 6th,Zacks Dividends reports. Investors of record on Wednesday, November 27th will be given a dividend of 1.25 per share on Thursday, December 12th. This represents a $5.00 annualized dividend and a yield of 3.79%. The ex-dividend date of this dividend is Wednesday, November 27th.

Chord Energy has a payout ratio of 34.6% meaning its dividend is sufficiently covered by earnings. Research analysts expect Chord Energy to earn $16.06 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 31.1%.

Chord Energy Stock Down 0.7 %

Shares of CHRD traded down $0.88 during midday trading on Friday, hitting $131.98. The company had a trading volume of 5,276 shares, compared to its average volume of 879,175. The stock has a market cap of $8.17 billion, a price-to-earnings ratio of 6.84, a PEG ratio of 4.86 and a beta of 0.98. Chord Energy has a 52 week low of $123.30 and a 52 week high of $190.23. The company’s 50 day moving average price is $132.59 and its 200 day moving average price is $156.69. The company has a quick ratio of 0.91, a current ratio of 0.96 and a debt-to-equity ratio of 0.11.

Chord Energy (NASDAQ:CHRD) last released its earnings results on Wednesday, November 6th. The company reported $3.40 EPS for the quarter, missing analysts’ consensus estimates 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 15.06% and a net margin of 20.83%. The company’s quarterly revenue was up 33.4% on a year-over-year basis. During the same period in the prior year, the business earned $5.04 EPS. On average, equities research analysts predict that Chord Energy will post 17.07 EPS for the current year.

Analyst Ratings Changes

A number of research analysts have recently issued reports on CHRD shares. Bank of America raised their price target on shares of Chord Energy from $201.00 to $208.00 and gave the stock a “buy” rating in a research report on Wednesday, August 21st. Citigroup cut their target price 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. UBS Group started coverage on Chord Energy in a research note on Wednesday, October 16th. They set a “buy” rating and a $168.00 price objective for the company. Royal Bank of Canada reaffirmed an “outperform” rating and set a $200.00 price target on shares of Chord Energy in a report on Friday, September 20th. Finally, Wolfe Research initiated coverage on shares of Chord Energy in a research note on Thursday, July 18th. They set a “peer perform” rating on the stock. Two investment 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 MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $190.18.

Insiders Place Their Bets

In related news, Director Samantha Holroyd purchased 500 shares of Chord Energy stock in a transaction on Friday, August 23rd. The stock was purchased at an average cost of $149.51 per share, with a total value of $74,755.00. Following the acquisition, the director now directly owns 14,417 shares in the company, valued at approximately $2,155,485.67. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Company 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.