Chord Energy (NASDAQ:CHRD) Announces Earnings Results, Misses Expectations By $0.11 EPS

Key Points

• Chord Energy reported $6.44 in quarterly EPS, falling $0.11 short of analysts’ $6.55 consensus estimate, while revenue increased 128.6% year over year. The company posted a negative 1.25% net margin and 7.06% return on equity.
• Shares fell 5.1% to $129.95 following the earnings release. The stock remains below its 52-week high of $151.95 but above its 52-week low of $84.25.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and a $152.38 average price target. Insiders have sold 9,276 shares worth approximately $1.29 million over the past 90 days, while institutions own 97.76% of the stock.

Chord Energy (NASDAQ:CHRD - Get Free Report) released its quarterly earnings results on Wednesday. The company reported $6.44 earnings per share for the quarter, missing analysts' consensus estimates of $6.55 by ($0.11), Zacks reports. Chord Energy had a negative net margin of 1.25% and a positive return on equity of 7.06%. During the same period last year, the firm earned $1.79 EPS. The company's revenue for the quarter was up 128.6% compared to the same quarter last year.

Chord Energy Trading Down 5.1%

CHRD traded down $6.94 during mid-day trading on Wednesday, reaching $129.95. The stock had a trading volume of 920,161 shares, compared to its average volume of 911,514. The stock has a market capitalization of $7.32 billion, a P/E ratio of -115.00 and a beta of 0.48. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.96 and a current ratio of 1.02. The firm's fifty day simple moving average is $128.14 and its two-hundred day simple moving average is $124.74. Chord Energy has a 52 week low of $84.25 and a 52 week high of $151.95.

Insiders Place Their Bets

In other news, COO Darrin J. Henke sold 1,276 shares of the business's stock in a transaction on Friday, May 15th. The stock was sold at an average price of $145.97, for a total transaction of $186,257.72. Following the completion of the sale, the chief operating officer owned 21,157 shares in the company, valued at $3,088,287.29. The trade was a 5.69% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Douglas E. Brooks sold 1,500 shares of the firm's stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $138.57, for a total value of $207,855.00. Following the completion of the transaction, the director owned 18,705 shares in the company, valued at approximately $2,591,951.85. This represents a 7.42% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 9,276 shares of company stock valued at $1,285,968. 0.79% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. WealthCollab LLC raised its stake in shares of Chord Energy by 90.6% during the second quarter. WealthCollab LLC now owns 305 shares of the company's stock worth $30,000 after buying an additional 145 shares during the last quarter. Triumph Capital Management acquired a new stake in Chord Energy during the 3rd quarter worth $56,000. UMB Bank n.a. grew its holdings in Chord Energy by 78.2% during the 4th quarter. UMB Bank n.a. now owns 729 shares of the company's stock worth $68,000 after acquiring an additional 320 shares during the period. Larson Financial Group LLC raised its position in shares of Chord Energy by 43.0% during the 3rd quarter. Larson Financial Group LLC now owns 791 shares of the company's stock valued at $79,000 after acquiring an additional 238 shares during the last quarter. Finally, Quarry LP raised its position in shares of Chord Energy by 74.7% during the 4th quarter. Quarry LP now owns 1,027 shares of the company's stock valued at $95,000 after acquiring an additional 439 shares during the last quarter. Institutional investors own 97.76% of the company's stock.

Analyst Ratings Changes

A number of research firms have commented on CHRD. Mizuho raised Chord Energy to a "strong-buy" rating in a research note on Friday, July 31st. Roth Capital restated a "buy" rating and issued a $145.00 target price on shares of Chord Energy in a research note on Wednesday, July 15th. Weiss Ratings reiterated a "hold (c-)" rating on shares of Chord Energy in a research report on Friday, June 12th. Williams Trading set a $189.00 price objective on shares of Chord Energy in a report on Monday, April 20th. Finally, Wells Fargo & Company raised their price objective on shares of Chord Energy from $136.00 to $175.00 and gave the company an "overweight" rating in a research report on Wednesday, April 8th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $152.38.

Chord Energy Company Profile

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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