Chord Energy Co. (NASDAQ:CHRD) Announces $2.94 Quarterly Dividend

Chord Energy Co. (NASDAQ:CHRD - Get Free Report) declared a quarterly dividend on Tuesday, May 7th, Zacks reports. Shareholders of record on Wednesday, May 22nd will be paid a dividend of 2.94 per share on Wednesday, June 5th. This represents a $11.76 dividend on an annualized basis and a yield of 6.48%. The ex-dividend date is Tuesday, May 21st.

Chord Energy has a payout ratio of 24.0% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Chord Energy to earn $22.37 per share next year, which means the company should continue to be able to cover its $5.00 annual dividend with an expected future payout ratio of 22.4%.

Chord Energy Stock Up 0.7 %

Shares of CHRD traded up $1.35 during midday trading on Thursday, reaching $181.57. 517,291 shares of the stock were exchanged, compared to its average volume of 665,365. The company has a market cap of $7.54 billion, a price-to-earnings ratio of 7.66 and a beta of 1.07. The firm has a 50 day simple moving average of $175.41 and a 200-day simple moving average of $166.02. Chord Energy has a 12-month low of $137.78 and a 12-month high of $190.23. The company has a quick ratio of 1.16, a current ratio of 1.22 and a debt-to-equity ratio of 0.08.

Chord Energy (NASDAQ:CHRD - Get Free Report) last posted its earnings results on Tuesday, May 7th. The company reported $5.10 EPS for the quarter, topping the consensus estimate of $4.75 by $0.35. Chord Energy had a net margin of 26.27% and a return on equity of 16.35%. The company had revenue of $1.09 billion during the quarter, compared to the consensus estimate of $771.87 million. During the same period in the previous year, the firm posted $4.50 earnings per share. The company's revenue for the quarter was up 24.8% compared to the same quarter last year. Research analysts forecast that Chord Energy will post 22.03 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on CHRD shares. Piper Sandler upped their target price on Chord Energy from $219.00 to $230.00 and gave the stock an "overweight" rating in a research report on Friday, April 19th. Royal Bank of Canada lifted their target price on shares of Chord Energy from $180.00 to $200.00 and gave the stock an "outperform" rating in a report on Monday, April 29th. Mizuho raised their price target on Chord Energy from $189.00 to $195.00 and gave the company a "buy" rating in a research report on Thursday, March 14th. Stifel Nicolaus increased their target price on Chord Energy from $178.00 to $211.00 and gave the company a "buy" rating in a research note on Tuesday, February 27th. Finally, Truist Financial dropped their price target on Chord Energy from $229.00 to $224.00 and set a "buy" rating on the stock in a research report on Friday, April 5th. One analyst has rated the stock with a sell rating, one has issued a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, Chord Energy has an average rating of "Moderate Buy" and a consensus target price of $193.50.

Insiders Place Their Bets

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

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.