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) issued its earnings results on Wednesday. The company reported $1.79 earnings per share for the quarter, missing the consensus estimate of $1.88 by ($0.09), Zacks reports. Chord Energy had a return on equity of 9.02% and a net margin of 5.02%. The firm had revenue of $1.18 billion during the quarter, compared to analysts' expectations of $984.07 million. During the same period last year, the business posted $4.69 earnings per share. The company's quarterly revenue was up 5.3% compared to the same quarter last year.

Chord Energy Stock Up 1.5%

Shares of Chord Energy stock traded up $1.53 during trading hours on Friday, hitting $101.06. 747,105 shares of the company's stock traded hands, compared to its average volume of 660,925. Chord Energy has a twelve month low of $79.83 and a twelve month high of $156.12. The company has a market cap of $5.84 billion, a PE ratio of 25.72 and a beta of 0.97. The company has a quick ratio of 0.83, a current ratio of 0.97 and a debt-to-equity ratio of 0.11. The stock has a 50 day simple moving average of $103.58 and a 200-day simple moving average of $102.71.

Chord Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 8th. Shareholders of record on Thursday, August 21st will be given a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a yield of 5.1%. The ex-dividend date of this dividend is Thursday, August 21st. Chord Energy's dividend payout ratio is presently 132.32%.

Analyst Ratings Changes

Several equities research analysts have commented on the company. Royal Bank Of Canada dropped their price target on Chord Energy from $165.00 to $145.00 and set an "outperform" rating for the company in a research note on Friday, April 11th. Bank of America decreased their target price on Chord Energy from $114.00 to $112.00 and set a "buy" rating for the company in a report on Friday, May 23rd. Piper Sandler increased their target price on shares of Chord Energy from $159.00 to $164.00 and gave the stock an "overweight" rating in a research report on Thursday, July 17th. Citigroup lifted their price target on shares of 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 boosted their price objective on shares of Chord Energy from $142.00 to $143.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 15th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Chord Energy presently has an average rating of "Moderate Buy" and a consensus target price of $151.54.

Institutional Inflows and Outflows

An institutional investor recently bought a new position 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 its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 2,565 shares of the company's stock, valued at approximately $289,000. Institutional investors own 97.76% of the company's stock.

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.

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