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

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) annualized dividend 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% indicating that its dividend is sufficiently covered by earnings. Equities 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 Stock Performance

CHRD traded down $5.31 on Thursday, hitting $99.53. The company's stock had a trading volume of 1,830,392 shares, compared to its average volume of 845,462. Chord Energy has a 12 month low of $79.83 and a 12 month high of $156.12. The company's 50 day simple moving average is $103.19 and its 200-day simple moving average is $103.06. The company has a quick ratio of 0.83, a current ratio of 0.89 and a debt-to-equity ratio of 0.09. The firm has a market cap of $5.75 billion, a P/E ratio of 6.66 and a beta of 0.97.

Chord Energy (NASDAQ:CHRD - Get Free Report) last released 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 16.15% and a return on equity of 10.34%. The firm had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $984.07 million. During the same quarter last year, the business posted $4.69 earnings per share. Chord Energy's revenue was up 5.3% compared to the same quarter last year. Analysts forecast that Chord Energy will post 15.59 EPS for the current year.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.