Chord Energy (NASDAQ:CHRD) Posts Quarterly Earnings Results, Misses Expectations By $0.23 EPS

Chord Energy (NASDAQ:CHRD) announced its quarterly earnings data on Wednesday. The company reported $3.40 EPS for the quarter, missing analysts’ consensus estimates of $3.63 by ($0.23), Briefing.com reports. Chord Energy had a net margin of 20.83% and a return on equity of 15.06%. The company had revenue of $1.12 billion for the quarter, compared to analysts’ expectations of $1.26 billion. During the same period in the previous year, the firm posted $5.04 earnings per share. The business’s revenue for the quarter was up 33.4% on a year-over-year basis.

Chord Energy Price Performance

NASDAQ:CHRD traded down $1.20 on Friday, reaching $131.66. The stock had a trading volume of 164,084 shares, compared to its average volume of 879,907. The company has a quick ratio of 0.91, a current ratio of 0.96 and a debt-to-equity ratio of 0.11. The company has a market capitalization of $8.15 billion, a P/E ratio of 6.84, a price-to-earnings-growth ratio of 4.86 and a beta of 0.98. Chord Energy has a 1-year low of $123.30 and a 1-year high of $190.23. The stock has a fifty day moving average price of $132.59 and a 200-day moving average price of $156.69.

Chord Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Wednesday, November 27th will be issued a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a yield of 3.80%. The ex-dividend date of this dividend is Wednesday, November 27th. Chord Energy’s dividend payout ratio is currently 25.75%.

Insider Transactions at Chord Energy

In other Chord Energy news, Director Samantha Holroyd bought 500 shares of Chord Energy stock in a transaction dated Friday, August 23rd. The shares were acquired at an average cost of $149.51 per share, with a total value of $74,755.00. Following the acquisition, the director now directly owns 14,417 shares of the company’s stock, valued at $2,155,485.67. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.70% of the company’s stock.

Analyst Ratings Changes

CHRD has been the topic of several research analyst reports. Siebert Williams Shank upgraded shares of Chord Energy to a “strong-buy” rating in a report on Tuesday, October 15th. Wolfe Research assumed coverage on Chord Energy in a research note on Thursday, July 18th. They issued a “peer perform” rating on the stock. Bank of America upped their target price on Chord Energy from $201.00 to $208.00 and gave the stock a “buy” rating in a research report on Wednesday, August 21st. UBS Group began coverage on Chord Energy in a report on Wednesday, October 16th. They set a “buy” rating and a $168.00 price target for the company. Finally, Piper Sandler increased their price objective on Chord Energy from $206.00 to $211.00 and gave the stock an “overweight” rating in a report on Tuesday, October 15th. Two analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $190.18.

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.