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

Key Points

• Chord Energy Corporation declared a quarterly dividend of $1.30 per share, with stockholders of record set to be paid on September 8th. This results in an annualized dividend yield of 5.2%.
• The company reported earnings of $1.79 per share for the last quarter, falling short of analysts' expectations, but with revenue rising 5.3% year-over-year to $1.18 billion.
• Analysts foresee a projected earnings per share of $15.59 for this year, indicating Chord Energy's ability to sustainably cover its dividend payout ratio, which currently stands at 53.7%.

Chord Energy Corporation (NASDAQ:CHRD - Get Free Report) announced a quarterly dividend on Thursday, August 7th, Wall Street Journal reports. Stockholders of record on Thursday, August 21st will be paid a dividend of 1.30 per share on Monday, September 8th. This represents a c) dividend on an annualized basis and a dividend yield of 5.2%. The ex-dividend date of this dividend is Thursday, August 21st.

Chord Energy has a dividend payout ratio of 53.7% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Chord Energy to earn $13.13 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 39.6%.

Chord Energy Trading Down 1.6%

CHRD traded down $1.65 during midday trading on Monday, hitting $99.41. The company's stock had a trading volume of 1,118,867 shares, compared to its average volume of 669,215. The firm has a market cap of $5.69 billion, a P/E ratio of 25.30 and a beta of 0.97. The company has a current ratio of 0.97, a quick ratio of 0.90 and a debt-to-equity ratio of 0.11. The firm has a 50-day moving average price of $103.73 and a two-hundred day moving average price of $102.33. Chord Energy has a 52-week low of $79.83 and a 52-week high of $156.12.

Chord Energy (NASDAQ:CHRD - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The company reported $1.79 EPS for the quarter, missing analysts' consensus estimates of $1.88 by ($0.09). Chord Energy had a net margin of 5.02% and a return on equity of 9.02%. The company had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $984.07 million. During the same quarter last year, the company earned $4.69 earnings per share. The company's revenue was up 5.3% compared to the same quarter last year. On average, research analysts anticipate that Chord Energy will post 15.59 earnings per share for the current year.

Institutional Trading of Chord Energy

Several institutional investors have recently made changes to their positions in the stock. Assetmark Inc. grew its holdings in Chord Energy by 7.3% during the second quarter. Assetmark Inc. now owns 1,417 shares of the company's stock valued at $137,000 after purchasing an additional 96 shares during the last quarter. Lynx Investment Advisory boosted its holdings in shares of Chord Energy by 3.6% during the 2nd quarter. Lynx Investment Advisory now owns 2,847 shares of the company's stock worth $276,000 after buying an additional 99 shares during the period. National Bank of Canada FI grew its stake in Chord Energy by 2.1% in the 1st quarter. National Bank of Canada FI now owns 5,258 shares of the company's stock valued at $592,000 after buying an additional 106 shares during the last quarter. Voya Investment Management LLC raised its holdings in Chord Energy by 1.4% in the 1st quarter. Voya Investment Management LLC now owns 7,579 shares of the company's stock worth $854,000 after acquiring an additional 107 shares during the period. Finally, MGO One Seven LLC lifted its position in Chord Energy by 6.7% during the 4th quarter. MGO One Seven LLC now owns 1,775 shares of the company's stock worth $208,000 after acquiring an additional 111 shares during the last quarter. 97.76% of the stock is currently owned by institutional investors and hedge funds.

About Chord Energy

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.