Chord Energy Co. (NASDAQ:CHRD) Expected to Earn Q2 2024 Earnings of $5.20 Per Share

Chord Energy Co. (NASDAQ:CHRD - Free Report) - Investment analysts at Capital One Financial reduced their Q2 2024 earnings per share estimates for shares of Chord Energy in a research note issued on Monday, May 13th. Capital One Financial analyst P. Johnston now anticipates that the company will post earnings per share of $5.20 for the quarter, down from their previous estimate of $5.49. The consensus estimate for Chord Energy's current full-year earnings is $22.29 per share. Capital One Financial also issued estimates for Chord Energy's Q3 2024 earnings at $5.86 EPS and Q4 2024 earnings at $6.08 EPS.

CHRD has been the subject of a number of other research reports. Truist Financial lowered their target price on Chord Energy from $229.00 to $224.00 and set a "buy" rating for the company in a research note on Friday, April 5th. Mizuho boosted their target price on shares of Chord Energy from $195.00 to $214.00 and gave the company a "buy" rating in a report on Monday. Stifel Nicolaus increased their price target on shares of Chord Energy from $178.00 to $211.00 and gave the stock a "buy" rating in a research note on Tuesday, February 27th. Royal Bank of Canada boosted their price objective on shares of Chord Energy from $180.00 to $200.00 and gave the stock an "outperform" rating in a research note on Monday, April 29th. Finally, Piper Sandler lifted their target price on shares of Chord Energy from $230.00 to $231.00 and gave the company an "overweight" rating in a report on Tuesday. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $195.50.

Chord Energy Stock Up 0.7 %

CHRD traded up $1.27 on Tuesday, hitting $182.37. The company had a trading volume of 770,759 shares, compared to its average volume of 663,991. The stock has a fifty day simple moving average of $176.90 and a 200-day simple moving average of $166.42. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.14 and a quick ratio of 1.07. The firm has a market capitalization of $7.60 billion, a P/E ratio of 8.56 and a beta of 1.07. Chord Energy has a 52-week low of $137.78 and a 52-week high of $190.23.

Chord Energy (NASDAQ:CHRD - Get Free Report) last issued its quarterly earnings data on Tuesday, May 7th. The company reported $5.10 EPS for the quarter, topping the consensus estimate of $4.75 by $0.35. The business had revenue of $1.09 billion during the quarter, compared to analyst estimates of $771.87 million. Chord Energy had a net margin of 22.67% and a return on equity of 16.57%. The company's revenue for the quarter was up 24.8% on a year-over-year basis. During the same period in the prior year, the business earned $4.50 EPS.

Institutional Investors Weigh In On Chord Energy

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Westwood Holdings Group Inc. lifted its holdings in Chord Energy by 28.0% during the first quarter. Westwood Holdings Group Inc. now owns 137,411 shares of the company's stock valued at $24,492,000 after purchasing an additional 30,077 shares in the last quarter. Shell Asset Management Co. purchased a new stake in Chord Energy in the 1st quarter worth $246,000. MQS Management LLC bought a new stake in Chord Energy during the first quarter valued at about $306,000. Seven Eight Capital LP purchased a new position in shares of Chord Energy in the first quarter valued at about $784,000. Finally, Cynosure Group LLC bought a new position in shares of Chord Energy in the first quarter worth about $682,000. 97.76% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Chord Energy news, CFO Michael H. Lou sold 3,000 shares of the business's stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $165.00, for a total transaction of $495,000.00. Following the completion of the sale, the chief financial officer now directly owns 128,209 shares in the company, valued at approximately $21,154,485. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.70% of the company's stock.

Chord Energy Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 5th. Shareholders of record on Wednesday, May 22nd will be paid a dividend of $2.94 per share. The ex-dividend date is Tuesday, May 21st. This represents a $11.76 dividend on an annualized basis and a yield of 6.45%. Chord Energy's dividend payout ratio is presently 23.46%.

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.