Chord Energy (NASDAQ:CHRD) Releases Earnings Results, Beats Expectations By $1.07 EPS

Key Points

• Chord Energy beat expectations — reported EPS of $4.56 vs. $3.49 consensus (beat by $1.07) and revenue of $1.67B vs. $1.21B, with quarterly revenue up 37.1% year-over-year.
• The company paid a quarterly dividend of $1.30 (annualized $5.20) for a yield of 3.5%, but the dividend payout ratio is 825.40%, signalling the payout may be unsustainably high.
• CHRD shares traded around $149.16 (market cap $8.46B, P/E ~236.8); insiders sold about 23,927 shares (~$2.91M) in the last three months, while analysts hold a consensus "Moderate Buy" rating with a $152.23 price target.

Chord Energy (NASDAQ:CHRD - Get Free Report) announced its quarterly earnings data on Tuesday. The company reported $4.56 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.49 by $1.07, FiscalAI reports. Chord Energy had a net margin of 0.91% and a return on equity of 6.71%. The firm had revenue of $1.67 billion during the quarter, compared to analyst estimates of $1.21 billion. During the same quarter in the prior year, the firm posted $4.04 earnings per share. Chord Energy's quarterly revenue was up 37.1% on a year-over-year basis.

Chord Energy Trading Down 0.1%

CHRD stock traded down $0.09 during mid-day trading on Tuesday, hitting $149.16. 709,287 shares of the company were exchanged, compared to its average volume of 992,342. The company has a quick ratio of 0.98, a current ratio of 1.06 and a debt-to-equity ratio of 0.18. The firm has a market capitalization of $8.46 billion, a P/E ratio of 236.76 and a beta of 0.52. The business has a fifty day simple moving average of $129.95 and a 200-day simple moving average of $106.64. Chord Energy has a 12-month low of $84.25 and a 12-month high of $150.50.

Chord Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 27th. Shareholders of record on Thursday, March 12th were paid a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a yield of 3.5%. The ex-dividend date of this dividend was Thursday, March 12th. Chord Energy's dividend payout ratio (DPR) is 825.40%.

Insider Activity at Chord Energy

In other Chord Energy news, EVP Shannon Browning Kinney sold 1,801 shares of the stock in a transaction dated Tuesday, March 3rd. The shares were sold at an average price of $114.36, for a total transaction of $205,962.36. Following the completion of the transaction, the executive vice president owned 20,188 shares of the company's stock, valued at $2,308,699.68. This trade represents a 8.19% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Lara J. Kroll sold 5,000 shares of the stock in a transaction dated Tuesday, March 3rd. The stock was sold at an average price of $113.66, for a total transaction of $568,300.00. Following the transaction, the chief accounting officer directly owned 8,921 shares of the company's stock, valued at approximately $1,013,960.86. This trade represents a 35.92% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 23,927 shares of company stock worth $2,912,028. 0.79% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. WealthCollab LLC boosted its stake in shares of Chord Energy by 90.6% in the second quarter. WealthCollab LLC now owns 305 shares of the company's stock valued at $30,000 after purchasing an additional 145 shares during the period. Triumph Capital Management purchased a new position in shares of Chord Energy in the third quarter valued at approximately $56,000. UMB Bank n.a. boosted its stake in shares of Chord Energy by 78.2% in the fourth quarter. UMB Bank n.a. now owns 729 shares of the company's stock valued at $68,000 after purchasing an additional 320 shares during the period. Larson Financial Group LLC boosted its stake in shares of Chord Energy by 43.0% in the third quarter. Larson Financial Group LLC now owns 791 shares of the company's stock valued at $79,000 after purchasing an additional 238 shares during the period. Finally, Quarry LP boosted its stake in shares of Chord Energy by 74.7% in the fourth quarter. Quarry LP now owns 1,027 shares of the company's stock valued at $95,000 after purchasing an additional 439 shares during the period. Hedge funds and other institutional investors own 97.76% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on CHRD shares. Weiss Ratings raised shares of Chord Energy from a "sell (d+)" rating to a "hold (c-)" rating in a report on Tuesday, March 17th. Mizuho set a $148.00 price objective on shares of Chord Energy in a report on Friday, January 9th. Scotiabank upped their price objective on shares of Chord Energy from $114.00 to $135.00 and gave the company a "sector perform" rating in a report on Wednesday, April 22nd. Pickering Energy Partners lowered shares of Chord Energy from an "outperform" rating to a "neutral" rating in a report on Friday, January 9th. Finally, Piper Sandler upped their price objective on shares of Chord Energy from $158.00 to $190.00 and gave the company an "overweight" rating in a report on Thursday, March 12th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $152.23.

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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