Chord Energy (NASDAQ:CHRD) Releases Quarterly Earnings Results, Beats Expectations By $0.74 EPS

Chord Energy (NASDAQ:CHRD) issued its earnings results on Tuesday. The company reported $3.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.75 by $0.74, Zacks reports. Chord Energy had a net margin of 19.74% and a return on equity of 12.88%.

Chord Energy Stock Performance

Shares of NASDAQ CHRD traded down $2.77 during midday trading on Tuesday, hitting $108.56. 1,162,899 shares of the company’s stock were exchanged, compared to its average volume of 768,296. Chord Energy has a twelve month low of $107.24 and a twelve month high of $190.23. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.93 and a quick ratio of 0.89. The firm has a market cap of $6.64 billion, a P/E ratio of 5.59, a PEG ratio of 5.83 and a beta of 0.98. The stock’s 50 day moving average price is $116.40 and its 200-day moving average price is $127.55.

Chord Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Wednesday, November 27th were issued a dividend of $1.25 per share. The ex-dividend date of this dividend was Wednesday, November 27th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 4.61%. Chord Energy’s dividend payout ratio (DPR) is presently 25.75%.

Wall Street Analysts Forecast Growth

CHRD has been the topic of several research reports. Morgan Stanley assumed coverage on Chord Energy in a research note on Friday, January 10th. They set an “equal weight” rating and a $158.00 price objective on the stock. Royal Bank of Canada dropped their price target on Chord Energy from $185.00 to $180.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 20th. UBS Group decreased their price objective on shares of Chord Energy from $168.00 to $161.00 and set a “buy” rating for the company in a report on Monday, December 9th. Piper Sandler dropped their target price on shares of Chord Energy from $194.00 to $193.00 and set an “overweight” rating on the stock in a report on Wednesday, January 15th. Finally, Truist Financial raised their price target on shares of Chord Energy from $185.00 to $186.00 and gave the stock a “buy” rating in a research report on Monday, January 13th. Three analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Chord Energy has a consensus rating of “Moderate Buy” and a consensus price target of $173.08.

Insider Buying and Selling at Chord Energy

In related news, CAO Shannon Browning Kinney sold 1,000 shares of the stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $121.27, for a total value of $121,270.00. Following the completion of the transaction, the chief accounting officer now owns 20,488 shares in the company, valued at $2,484,579.76. This represents a 4.65 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 0.70% of the stock is owned by company insiders.

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.