Chord Energy Co. (NASDAQ:CHRD – Get Rating) – Research analysts at Capital One Financial reduced their Q3 2023 earnings estimates for shares of Chord Energy in a research note issued to investors on Wednesday, May 24th. Capital One Financial analyst P. Johnston now expects that the company will post earnings per share of $5.00 for the quarter, down from their prior forecast of $5.12. The consensus estimate for Chord Energy’s current full-year earnings is $21.48 per share. Capital One Financial also issued estimates for Chord Energy’s Q4 2023 earnings at $5.26 EPS, FY2023 earnings at $19.46 EPS, Q1 2024 earnings at $5.57 EPS, Q2 2024 earnings at $5.76 EPS, Q3 2024 earnings at $5.98 EPS, Q4 2024 earnings at $6.02 EPS and FY2024 earnings at $23.34 EPS.
Chord Energy (NASDAQ:CHRD – Get Rating) last announced its quarterly earnings results on Wednesday, February 22nd. The company reported $5.28 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $5.89 by ($0.61). The firm had revenue of $1.02 billion during the quarter, compared to analysts’ expectations of $875.33 million. Chord Energy had a net margin of 43.37% and a return on equity of 23.51%.
CHRD has been the subject of several other reports. Stifel Nicolaus decreased their price objective on Chord Energy from $185.00 to $182.00 in a report on Monday. Piper Sandler reduced their price target on shares of Chord Energy from $213.00 to $204.00 in a report on Thursday, May 18th. Truist Financial dropped their price objective on shares of Chord Energy from $252.00 to $246.00 in a research note on Monday, May 8th. Royal Bank of Canada reissued an “outperform” rating and issued a $190.00 price objective on shares of Chord Energy in a research note on Thursday, March 30th. Finally, Citigroup dropped their target price on Chord Energy from $170.00 to $165.00 in a research report on Sunday, May 21st. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, Chord Energy presently has an average rating of “Moderate Buy” and an average price target of $187.38.
Chord Energy Trading Down 1.3 %
Shares of NASDAQ CHRD opened at $149.46 on Friday. Chord Energy has a twelve month low of $93.35 and a twelve month high of $181.34. The firm has a market cap of $6.21 billion, a PE ratio of 3.54, a price-to-earnings-growth ratio of 0.37 and a beta of 1.36. The business has a fifty day simple moving average of $139.09 and a two-hundred day simple moving average of $139.84. The company has a quick ratio of 1.13, a current ratio of 1.18 and a debt-to-equity ratio of 0.08.
Institutional Investors Weigh In On Chord Energy
Institutional investors and hedge funds have recently made changes to their positions in the stock. Russell Investments Group Ltd. purchased a new position in Chord Energy in the 4th quarter worth $13,387,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in Chord Energy in the 4th quarter worth approximately $760,000. MGO One Seven LLC purchased a new position in Chord Energy during the 4th quarter worth approximately $345,000. Mackay Shields LLC purchased a new stake in shares of Chord Energy in the 4th quarter valued at $18,888,000. Finally, SummerHaven Investment Management LLC acquired a new position in Chord Energy during the fourth quarter valued at $1,017,000. 93.47% of the stock is currently owned by institutional investors and hedge funds.
Insider Buying and Selling
In other Chord Energy news, Director Lynn A. Peterson sold 3,000 shares of the firm’s stock in a transaction dated Monday, May 15th. The stock was sold at an average price of $140.56, for a total value of $421,680.00. Following the completion of the sale, the director now owns 235,098 shares of the company’s stock, valued at $33,045,374.88. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders have sold a total of 9,000 shares of company stock worth $1,282,590 in the last ninety days. 0.52% of the stock is owned by insiders.
Chord Energy Cuts Dividend
The firm also recently disclosed a None dividend, which will be paid on Tuesday, May 30th. Stockholders of record on Tuesday, May 16th will be given a $3.22 dividend. The ex-dividend date is Monday, May 15th. This represents a dividend yield of 3.5%. Chord Energy’s payout ratio is 11.85%.
About Chord Energy
(Get Rating)
Chord Energy Corporation operates as an independent exploration and production company. It acquires, exploits, develops, and explores for crude oil, natural gas, and natural gas liquids in the Williston Basin. The company was founded in 2007 and is headquartered in Houston, Texas.
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