Chord Energy (NASDAQ:CHRD) Posts Earnings Results, Misses Expectations By $0.09 EPS

Key Points

• Chord Energy reported earnings of $1.79 per share for the quarter, falling short of expectations by $0.09, while quarterly revenue increased to $1.18 billion, surpassing analyst estimates.
• The company announced a quarterly dividend of $1.30, which indicates an annualized yield of 5.1%, despite a high dividend payout ratio of 132.32%.
• Chord Energy's stock saw a 1.5% increase, trading at $101.06, with a total of 747,105 shares exchanging hands.

Chord Energy (NASDAQ:CHRD - Get Free Report) posted its earnings results on Wednesday, August 6th. The company reported $1.79 EPS for the quarter, missing the consensus estimate of $1.88 by ($0.09), Zacks reports. The company had revenue of $1.18 billion for the quarter, compared to analyst estimates of $984.07 million. Chord Energy had a return on equity of 9.02% and a net margin of 5.02%. The firm's revenue was up 5.3% on a year-over-year basis. During the same period last year, the business earned $4.69 earnings per share.

Chord Energy Trading Up 0.2%

CHRD stock traded up $0.20 during trading on Wednesday, reaching $100.25. 404,982 shares of the stock were exchanged, compared to its average volume of 843,582. 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 market capitalization of $5.74 billion, a price-to-earnings ratio of 25.53 and a beta of 0.97. The business has a 50 day moving average price of $103.82 and a 200-day moving average price of $102.31. Chord Energy has a 1 year low of $79.83 and a 1 year high of $156.12.

Chord Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 8th. Investors of record on Thursday, August 21st will be given a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a yield of 5.2%. The ex-dividend date is Thursday, August 21st. Chord Energy's dividend payout ratio (DPR) is presently 132.32%.

Analysts Set New Price Targets

Several research firms have recently weighed in on CHRD. Piper Sandler lifted their target price on shares of Chord Energy from $159.00 to $164.00 and gave the company an "overweight" rating in a report on Thursday, July 17th. Mizuho cut their price objective on shares of Chord Energy from $154.00 to $150.00 and set an "outperform" rating for the company in a report on Tuesday, May 13th. Bank of America decreased their price objective on shares of Chord Energy from $114.00 to $112.00 and set a "buy" rating for the company in a research report on Friday, May 23rd. Citigroup raised their target price on Chord Energy from $120.00 to $125.00 and gave the company a "buy" rating in a research report on Wednesday, July 9th. Finally, Wells Fargo & Company lifted their price target on Chord Energy from $142.00 to $143.00 and gave the company an "overweight" rating in a research note on Tuesday, July 15th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Chord Energy currently has an average rating of "Moderate Buy" and an average target price of $148.38.

Institutional Trading of Chord Energy

A hedge fund recently bought a new stake in Chord Energy stock. Focus Partners Wealth bought a new stake in Chord Energy Corporation (NASDAQ:CHRD - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 2,565 shares of the company's stock, valued at approximately $289,000. Hedge funds and other institutional investors own 97.76% of the company's stock.

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.