Chord Energy Co. (NASDAQ:CHRD) Raises Dividend to $1.30 Per Share

Chord Energy Co. (NASDAQ:CHRD) announced a quarterly dividend on Wednesday, February 26th, Wall Street Journal reports. Investors of record on Tuesday, March 11th will be paid a dividend of 1.30 per share on Wednesday, March 26th. This represents a $5.20 annualized dividend and a dividend yield of 4.59%. The ex-dividend date is Tuesday, March 11th. This is a boost from Chord Energy’s previous quarterly dividend of $1.25.

Chord Energy has raised its dividend payment by an average of 34.3% annually over the last three years. Chord Energy has a dividend payout ratio of 38.9% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Chord Energy to earn $13.13 per share next year, which means the company should continue to be able to cover its $5.20 annual dividend with an expected future payout ratio of 39.6%.

Chord Energy Stock Performance

Shares of NASDAQ:CHRD opened at $113.30 on Thursday. The company has a market cap of $6.93 billion, a P/E ratio of 5.83, a PEG ratio of 5.83 and a beta of 0.98. 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 has a one year low of $107.24 and a one year high of $190.23. The business’s 50-day simple moving average is $116.30 and its 200 day simple moving average is $127.15.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on CHRD shares. Piper Sandler dropped 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. Royal Bank of Canada dropped their price objective on Chord Energy from $185.00 to $180.00 and set an “outperform” rating on the stock in a report on Wednesday, November 20th. UBS Group dropped their price objective on Chord Energy from $168.00 to $161.00 and set a “buy” rating on the stock in a report on Monday, December 9th. Wells Fargo & Company dropped their price objective on Chord Energy from $176.00 to $175.00 and set an “overweight” rating on the stock in a report on Wednesday, January 15th. Finally, Wolfe Research upgraded Chord Energy from a “peer perform” rating to an “outperform” rating and set a $155.00 target price for the company in a research report on Friday, January 3rd. Three analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $173.08.

Insiders Place Their Bets

In other news, CAO Shannon Browning Kinney sold 1,000 shares of the business’s stock in a transaction on Monday, December 9th. The stock was sold at an average price of $121.27, for a total value of $121,270.00. Following the sale, the chief accounting officer now owns 20,488 shares of the company’s stock, valued at approximately $2,484,579.76. The trade was a 4.65 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 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.