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

Chord Energy (NASDAQ:CHRD) posted its quarterly earnings results on Tuesday. The company reported $3.49 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 Performance

NASDAQ CHRD traded down $2.77 during trading on Tuesday, reaching $108.56. The company’s stock had a trading volume of 1,163,533 shares, compared to its average volume of 768,374. The business’s fifty day moving average price is $116.40 and its 200-day moving average price is $127.55. Chord Energy has a twelve month low of $107.24 and a twelve month 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. The firm has a market cap 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 Announces Dividend

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

Insider Transactions at Chord Energy

In other news, CAO Shannon Browning Kinney sold 1,000 shares of the company’s stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $121.27, for a total transaction of $121,270.00. Following the completion of the sale, the chief accounting officer now owns 20,488 shares in the company, valued at $2,484,579.76. This represents a 4.65 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.70% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. Royal Bank of Canada lowered their target price on shares of Chord Energy from $185.00 to $180.00 and set an “outperform” rating for the company in a research note on Wednesday, November 20th. Bank of America reaffirmed a “neutral” rating and set a $138.00 price objective (down from $208.00) on shares of Chord Energy in a research report on Monday, January 13th. UBS Group cut their target price on Chord Energy from $168.00 to $161.00 and set a “buy” rating on the stock in a research report on Monday, December 9th. Wells Fargo & Company lowered their price target on Chord Energy from $176.00 to $175.00 and set an “overweight” rating for the company in a report on Wednesday, January 15th. Finally, Piper Sandler dropped their price target on shares of Chord Energy from $194.00 to $193.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 15th. Three analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Chord Energy presently has an average rating of “Moderate Buy” and an average target price of $173.08.

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.