Chord Energy Co. (NASDAQ:CHRD) Declares Dividend Increase – $1.30 Per Share

Chord Energy Co. (NASDAQ:CHRD) announced a quarterly dividend on Wednesday, February 26th, Wall Street Journal reports. Shareholders 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 dividend on an annualized basis and a yield of 4.58%. The ex-dividend date of this dividend is Tuesday, March 11th. This is a positive change from Chord Energy’s previous quarterly dividend of $1.25.

Chord Energy has increased its dividend by an average of 34.3% annually over the last three years. Chord Energy has a dividend payout ratio of 5.7% meaning its dividend is sufficiently covered by earnings. 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 $0.76 annual dividend with an expected future payout ratio of 5.8%.

Chord Energy Stock Performance

NASDAQ CHRD traded up $4.88 on Wednesday, reaching $113.44. 1,232,947 shares of the company’s stock traded hands, compared to its average volume of 778,372. 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 fifty-two week low of $107.24 and a fifty-two week high of $190.23. The stock has a 50 day moving average price of $116.27 and a 200-day moving average price of $127.25. The firm has a market cap of $6.93 billion, a price-to-earnings ratio of 5.86, a P/E/G ratio of 5.83 and a beta of 0.98.

Insider Buying and Selling

In other news, CAO Shannon Browning Kinney sold 1,000 shares of Chord Energy stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $116.35, for a total value of $116,350.00. Following the completion of the transaction, the chief accounting officer now directly owns 19,488 shares of the company’s stock, valued at approximately $2,267,428.80. The trade was a 4.88 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.70% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on CHRD shares. Truist Financial increased their target price on Chord Energy from $185.00 to $186.00 and gave the company a “buy” rating in a report on Monday, January 13th. Bank of America restated a “neutral” rating and set a $138.00 target price (down from $208.00) on shares of Chord Energy in a research note on Monday, January 13th. Royal Bank of Canada reduced their target price on Chord Energy from $185.00 to $180.00 and set an “outperform” rating for the company in a report on Wednesday, November 20th. UBS Group reduced their target price on shares of Chord Energy from $168.00 to $161.00 and set a “buy” rating for the company in a research note on Monday, December 9th. Finally, Wells Fargo & Company decreased their target price on Chord Energy from $176.00 to $175.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 15th. Three investment 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 stock. According to MarketBeat.com, Chord Energy has a consensus rating of “Moderate Buy” and an average price target of $173.08.

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.