Chord Energy Co. Expected to Post FY2024 Earnings of $22.25 Per Share (NASDAQ:CHRD)

Chord Energy Co. (NASDAQ:CHRD - Free Report) - Equities research analysts at Capital One Financial reduced their FY2024 earnings per share estimates for shares of Chord Energy in a report issued on Monday, May 13th. Capital One Financial analyst P. Johnston now forecasts that the company will post earnings of $22.25 per share for the year, down from their previous estimate of $22.93. 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 FY2025 earnings at $23.19 EPS.

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

A number of other analysts have also commented on the stock. Truist Financial decreased their price target on shares of 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 raised their price target on shares of Chord Energy from $195.00 to $214.00 and gave the company a "buy" rating in a research report on Monday. Royal Bank of Canada boosted their price objective on Chord Energy from $180.00 to $200.00 and gave the stock an "outperform" rating in a report on Monday, April 29th. Piper Sandler raised their target price on Chord Energy from $230.00 to $231.00 and gave the company an "overweight" rating in a report on Tuesday. Finally, Stifel Nicolaus upped their price target on Chord Energy from $178.00 to $211.00 and gave the stock a "buy" rating in a report on Tuesday, February 27th. One analyst has rated the stock with a sell rating, one has given a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, Chord Energy presently has a consensus rating of "Moderate Buy" and an average target price of $195.50.

Chord Energy Trading Down 0.1 %

CHRD traded down $0.10 during trading on Wednesday, reaching $182.27. 596,056 shares of the company's stock were exchanged, compared to its average volume of 663,268. The stock has a market capitalization of $7.60 billion, a PE ratio of 8.56 and a beta of 1.07. Chord Energy has a one year low of $137.78 and a one year high of $190.23. The firm has a fifty day moving average price of $176.90 and a two-hundred day moving average price of $166.42. The company has a current ratio of 1.14, a quick ratio of 1.07 and a debt-to-equity ratio of 0.08.

Chord Energy Cuts Dividend

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

Insiders Place Their Bets

In other news, CFO Michael H. Lou sold 3,000 shares of the business's stock in a transaction on Friday, February 16th. The shares were sold at an average price of $165.00, for a total transaction of $495,000.00. Following the sale, the chief financial officer now directly owns 128,209 shares of the company's stock, valued at $21,154,485. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.70% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Chord Energy

Institutional investors and hedge funds have recently bought and sold shares of the business. Price T Rowe Associates Inc. MD lifted its position in shares of Chord Energy by 6.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 25,022 shares of the company's stock worth $4,460,000 after purchasing an additional 1,586 shares during the last quarter. BOKF NA increased its position in Chord Energy by 1,678.3% during the 1st quarter. BOKF NA now owns 15,471 shares of the company's stock worth $2,751,000 after purchasing an additional 14,601 shares in the last quarter. Magnetar Financial LLC purchased a new position in Chord Energy during the first quarter worth about $3,857,000. Huber Capital Management LLC increased its holdings in shares of Chord Energy by 91.7% during the 1st quarter. Huber Capital Management LLC now owns 14,842 shares of the company's stock worth $2,645,000 after buying an additional 7,100 shares during the last quarter. Finally, Westwood Holdings Group Inc. raised its stake in shares of Chord Energy by 28.0% in the 1st quarter. Westwood Holdings Group Inc. now owns 137,411 shares of the company's stock valued at $24,492,000 after acquiring an additional 30,077 shares during the period. 97.76% of the stock is currently owned by institutional investors and hedge funds.

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.