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

Key Points

• Chord Energy declared a quarterly dividend of $1.30 per share, payable September 4 to shareholders of record on August 20. The dividend implies an annualized payout of $5.20 and a yield of approximately 4.0%.
• The dividend appears well covered, with a current payout ratio of 53.7% and an expected future payout ratio of 42.2% based on projected earnings.
• Chord Energy reported quarterly EPS of $6.44, slightly below estimates, while revenue of $2.17 billion exceeded expectations and rose 128.6% year over year. The stock opened at $129.95, down 5.1%.

Chord Energy Corporation (NASDAQ:CHRD - Get Free Report) announced a quarterly dividend on Wednesday, August 5th. Shareholders of record on Thursday, August 20th will be given a dividend of 1.30 per share on Friday, September 4th. This represents a c) dividend on an annualized basis and a yield of 4.0%. The ex-dividend date of this dividend is Thursday, August 20th.

Chord Energy has a payout ratio of 53.7% meaning its dividend is sufficiently covered by earnings. Analysts expect Chord Energy to earn $12.31 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 42.2%.

Chord Energy Stock Down 5.1%

NASDAQ:CHRD opened at $129.95 on Thursday. Chord Energy has a twelve month low of $84.25 and a twelve month high of $151.95. The company has a market cap of $7.32 billion, a price-to-earnings ratio of -115.00 and a beta of 0.48. The stock has a fifty day simple moving average of $128.07 and a 200-day simple moving average of $125.00. The company has a current ratio of 1.02, a quick ratio of 0.96 and a debt-to-equity ratio of 0.18.

Chord Energy (NASDAQ:CHRD - Get Free Report) last posted its quarterly earnings results on Wednesday, August 5th. The company reported $6.44 EPS for the quarter, missing analysts' consensus estimates of $6.55 by ($0.11). The company had revenue of $2.17 billion during the quarter, compared to the consensus estimate of $1.62 billion. Chord Energy had a positive return on equity of 7.06% and a negative net margin of 1.25%.The company's revenue for the quarter was up 128.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.79 earnings per share. Analysts anticipate that Chord Energy will post 18.32 EPS for the current year.

Insider Activity

In other news, Director Douglas E. Brooks sold 3,500 shares of the business's stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $136.71, for a total value of $478,485.00. Following the completion of the sale, the director owned 20,205 shares in the company, valued at approximately $2,762,225.55. The trade was a 14.76% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Darrin J. Henke sold 1,276 shares of the stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of $145.97, for a total transaction of $186,257.72. Following the transaction, the chief operating officer owned 21,157 shares in the company, valued at approximately $3,088,287.29. This represents a 5.69% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 6,276 shares of company stock worth $872,598. 0.79% of the stock is owned by company insiders.

Institutional Trading of Chord Energy

A number of hedge funds have recently bought and sold shares of the stock. Bessemer Group Inc. increased its holdings in shares of Chord Energy by 63.8% in the 1st quarter. Bessemer Group Inc. now owns 190 shares of the company's stock valued at $27,000 after acquiring an additional 74 shares during the period. V Square Quantitative Management LLC purchased a new stake in shares of Chord Energy during the 1st quarter worth $29,000. Root Financial Partners LLC boosted its position in Chord Energy by 178.6% during the first quarter. Root Financial Partners LLC now owns 234 shares of the company's stock valued at $33,000 after purchasing an additional 150 shares in the last quarter. Versant Capital Management Inc boosted its position in Chord Energy by 330.9% during the second quarter. Versant Capital Management Inc now owns 237 shares of the company's stock valued at $27,000 after purchasing an additional 182 shares in the last quarter. Finally, WealthCollab LLC boosted its position in Chord Energy by 90.6% during the second quarter. WealthCollab LLC now owns 305 shares of the company's stock valued at $30,000 after purchasing an additional 145 shares in the last quarter. Hedge funds and other institutional investors 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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