Chord Energy Corporation (NASDAQ:CHRD) Shares to Pay Quarterly Dividend of $1.30

Key Points

• Chord Energy declared a quarterly dividend of $1.30 per share, payable December 7 to shareholders of record November 19. The annualized dividend is $5.20, a 3.9% yield.
• The dividend appears well covered: the current payout ratio is 53.7%, with analysts expecting it to fall to 26.0% based on next year’s forecast earnings.
• Quarterly results beat expectations, with EPS of $6.08 versus the $5.68 consensus and revenue of $1.71 billion versus $1.64 billion expected. Analysts’ consensus rating is “Moderate Buy,” with a $174.54 price target.

Chord Energy Corporation (NASDAQ:CHRD - Get Free Report) announced a quarterly dividend on Wednesday, November 4th. Investors of record on Thursday, November 19th will be given a dividend of $1.30 per share on Monday, December 7th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date of this dividend is Thursday, November 19th.

Chord Energy has a payout ratio of 53.7% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Chord Energy to earn $20.02 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 26.0%.

Chord Energy Price Performance

Shares of CHRD opened at $132.33 on Thursday. Chord Energy has a twelve month low of $84.25 and a twelve month high of $159.96. The company has a current ratio of 1.22, a quick ratio of 1.15 and a debt-to-equity ratio of 0.18. The firm has a market capitalization of $7.24 billion, a price-to-earnings ratio of 9.83 and a beta of 0.48. The firm's fifty day simple moving average is $145.76 and its 200-day simple moving average is $131.45.

Chord Energy (NASDAQ:CHRD - Get Free Report) last announced its quarterly earnings results on Wednesday, November 4th. The company reported $6.08 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $5.68 by $0.40. The company had revenue of $1.71 billion during the quarter, compared to the consensus estimate of $1.64 billion. Chord Energy had a return on equity of 10.18% and a net margin of 13.42%. Chord Energy's revenue for the quarter was up 30.0% on a year-over-year basis. During the same period in the previous year, the business earned $2.35 EPS. Equities analysts forecast that Chord Energy will post 23.11 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on CHRD. UBS Group boosted their price target on shares of Chord Energy from $193.00 to $197.00 and gave the company a "buy" rating in a research report on Tuesday, October 20th. Stifel Nicolaus started coverage on Chord Energy in a research report on Thursday, September 10th. They set a "buy" rating and a $182.00 price objective for the company. Zacks Research raised Chord Energy from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, October 20th. Jefferies Financial Group lifted their target price on Chord Energy from $133.00 to $150.00 and gave the company a "hold" rating in a research note on Friday, September 18th. Finally, Citigroup boosted their target price on Chord Energy from $130.00 to $150.00 and gave the company a "neutral" rating in a report on Thursday, September 17th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, Chord Energy presently has a consensus rating of "Moderate Buy" and a consensus price target of $174.54.

Chord Energy Company Profile

Chord Energy Corporation is an independent exploration and production company focused on the development and operation of oil and natural gas properties in the United States. Its portfolio is concentrated in the Williston Basin, which spans parts of North Dakota and Montana. The company's production mix includes crude oil, natural gas and natural gas liquids.

Chord's operations include acquiring, developing and producing hydrocarbons from operated and non-operated wells, with an emphasis on drilling and completion activities in the Bakken and Three Forks formations.

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