Chord Energy Corporation (NASDAQ:CHRD) Announces $1.30 Quarterly Dividend

Key Points

• Chord Energy (NASDAQ:CHRD) declared a quarterly dividend of $1.30 per share payable June 5 to holders of record on May 20, equal to $5.20 annually and a ~3.5% yield.
• The company beat expectations with $4.56 EPS versus a $3.49 consensus and reported $1.67B in revenue (up 37.1% YoY); analysts forecast about $16.94 EPS for the year, suggesting continued dividend coverage.
• Insiders have been net sellers recently (23,927 shares sold in the last 90 days) while institutional investors own roughly 97.76% of the stock.

Chord Energy Corporation (NASDAQ:CHRD - Get Free Report) announced a quarterly dividend on Tuesday, May 5th. Investors of record on Wednesday, May 20th will be given a dividend of 1.30 per share on Friday, June 5th. This represents a c) annualized dividend and a yield of 3.5%. The ex-dividend date is Wednesday, May 20th.

Chord Energy has a payout ratio of 53.7% meaning its dividend is sufficiently covered by earnings. Research analysts expect Chord Energy to earn $13.09 per share next year, which means the company should continue to be able to cover its $5.20 annual dividend with an expected future payout ratio of 39.7%.

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Chord Energy Stock Down 0.1%

CHRD stock opened at $149.16 on Wednesday. The firm has a market cap of $8.46 billion, a PE ratio of 236.76 and a beta of 0.52. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.98 and a current ratio of 1.06. The firm's fifty day moving average is $129.95 and its 200 day moving average is $106.64. Chord Energy has a one year low of $84.25 and a one year high of $150.50.

Chord Energy (NASDAQ:CHRD - Get Free Report) last released its quarterly earnings results on Tuesday, May 5th. The company reported $4.56 EPS for the quarter, beating the consensus estimate of $3.49 by $1.07. The company had revenue of $1.67 billion for the quarter, compared to analyst estimates of $1.21 billion. Chord Energy had a net margin of 0.91% and a return on equity of 6.71%. The firm's revenue was up 37.1% on a year-over-year basis. During the same quarter last year, the business earned $4.04 earnings per share. On average, research analysts forecast that Chord Energy will post 16.94 EPS for the current year.

Insider Activity at Chord Energy

In other Chord Energy news, EVP Shannon Browning Kinney sold 1,801 shares of the business's stock in a transaction on Tuesday, March 3rd. The stock was sold at an average price of $114.36, for a total transaction of $205,962.36. Following the transaction, the executive vice president owned 20,188 shares of the company's stock, valued at approximately $2,308,699.68. The trade was a 8.19% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Lara J. Kroll sold 5,000 shares of the business's stock in a transaction on Tuesday, March 3rd. The stock was sold at an average price of $113.66, for a total value of $568,300.00. Following the transaction, the chief accounting officer directly owned 8,921 shares in the company, valued at $1,013,960.86. This trade represents a 35.92% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 23,927 shares of company stock worth $2,912,028 in the last ninety days. 0.79% of the stock is owned by company insiders.

Hedge Funds Weigh In On Chord Energy

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Allspring Global Investments Holdings LLC boosted its stake in Chord Energy by 1.0% during the first quarter. Allspring Global Investments Holdings LLC now owns 734,416 shares of the company's stock worth $100,586,000 after buying an additional 7,250 shares during the last quarter. Goehring & Rozencwajg Associates LLC acquired a new position in Chord Energy in the 1st quarter valued at about $40,302,000. Sanctuary Advisors LLC boosted its holdings in Chord Energy by 47.4% in the 1st quarter. Sanctuary Advisors LLC now owns 4,223 shares of the company's stock valued at $600,000 after purchasing an additional 1,358 shares during the last quarter. State of Michigan Retirement System boosted its holdings in Chord Energy by 2.2% in the 1st quarter. State of Michigan Retirement System now owns 13,700 shares of the company's stock valued at $1,948,000 after purchasing an additional 300 shares during the last quarter. Finally, Teachers Retirement System of The State of Kentucky boosted its holdings in Chord Energy by 7.7% in the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 36,609 shares of the company's stock valued at $5,205,000 after purchasing an additional 2,620 shares during the last quarter. Institutional investors and hedge funds own 97.76% of the company's stock.

About Chord Energy

Chord Energy Corporation NASDAQ: CHRD, formerly known as Oasis Petroleum Inc, is an independent exploration and production company focused on the acquisition, development and production of crude oil, natural gas and natural gas liquids. Headquartered in Houston, Texas, Chord Energy emerged from financial restructuring in early 2021 and rebranded in October 2022 to reflect its renewed strategic vision.

The company’s core operations are concentrated in two prolific U.S. resource plays: the Williston Basin across North Dakota and Montana, and the Delaware Basin spanning parts of West Texas and southeastern New Mexico.

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