Chord Energy (NASDAQ:CHRD) Releases Quarterly Earnings Results, Beats Estimates By $0.74 EPS

Chord Energy (NASDAQ:CHRD) released its earnings results on Tuesday. The company reported $3.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.75 by $0.74, Zacks reports. Chord Energy had a net margin of 19.74% and a return on equity of 12.88%.

Chord Energy Stock Down 2.5 %

Shares of CHRD stock traded down $2.77 on Tuesday, hitting $108.56. The stock had a trading volume of 1,162,899 shares, compared to its average volume of 768,296. The stock’s 50 day moving average is $116.40 and its 200-day moving average is $127.55. The firm has a market capitalization of $6.64 billion, a price-to-earnings ratio of 5.59, a P/E/G ratio of 5.83 and a beta of 0.98. Chord Energy has a 52-week low of $107.24 and a 52-week high of $190.23. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.89 and a current ratio of 0.93.

Chord Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Wednesday, November 27th were given a dividend of $1.25 per share. The ex-dividend date was Wednesday, November 27th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 4.61%. Chord Energy’s payout ratio is currently 25.75%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Wolfe Research upgraded shares of Chord Energy from a “peer perform” rating to an “outperform” rating and set a $155.00 price target on the stock in a report on Friday, January 3rd. Mizuho reduced their target price on Chord Energy from $192.00 to $178.00 and set an “outperform” rating on the stock in a report on Monday, December 16th. Wells Fargo & Company dropped their price target on Chord Energy from $176.00 to $175.00 and set an “overweight” rating for the company in a research note on Wednesday, January 15th. Piper Sandler cut their price objective on Chord Energy from $194.00 to $193.00 and set an “overweight” rating on the stock in a report on Wednesday, January 15th. Finally, Bank of America reiterated a “neutral” rating and set a $138.00 target price (down previously from $208.00) on shares of Chord Energy in a report on Monday, January 13th. Three research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Chord Energy currently has an average rating of “Moderate Buy” and a consensus price target of $173.08.

Insider Buying and Selling

In other Chord Energy news, CAO Shannon Browning Kinney sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $116.35, for a total transaction of $116,350.00. Following the completion of the sale, the chief accounting officer now owns 19,488 shares in the company, valued at $2,267,428.80. This trade represents a 4.88 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.70% of the stock is currently owned by insiders.

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.