Chord Energy (NASDAQ:CHRD) Posts Earnings Results

Chord Energy (NASDAQ:CHRD - Get Free Report) released its earnings results on Tuesday. The company reported $5.10 earnings per share for the quarter, beating analysts' consensus estimates of $4.75 by $0.35, Briefing.com reports. The firm had revenue of $1.09 billion during the quarter, compared to the consensus estimate of $771.87 million. Chord Energy had a net margin of 26.27% and a return on equity of 16.35%. The company's revenue was up 24.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $4.50 EPS.

Chord Energy Price Performance

NASDAQ CHRD traded up $1.54 on Wednesday, hitting $180.22. The stock had a trading volume of 980,740 shares, compared to its average volume of 667,030. The firm has a 50-day moving average of $175.41 and a 200-day moving average of $166.02. The company has a market capitalization of $7.49 billion, a price-to-earnings ratio of 7.66 and a beta of 1.07. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.16 and a current ratio of 1.22. Chord Energy has a 52-week low of $137.78 and a 52-week high of $190.23.

Chord Energy Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 19th. Investors of record on Tuesday, March 5th were issued a dividend of $3.25 per share. This represents a $13.00 dividend on an annualized basis and a yield of 7.21%. The ex-dividend date was Monday, March 4th. This is a positive change from Chord Energy's previous quarterly dividend of $1.25. Chord Energy's dividend payout ratio is 21.25%.

Wall Street Analysts Forecast Growth

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

Insider Activity

In related news, CFO Michael H. Lou sold 3,000 shares of the 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 sale, the chief financial officer now owns 128,209 shares in the company, valued at $21,154,485. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.70% of the company's stock.

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.