Chord Energy (NASDAQ:CHRD) Issues Quarterly Earnings Results

by · The Cerbat Gem

Chord Energy (NASDAQ:CHRD – Get Free Report) issued its earnings results on Tuesday. The company reported $2.35 EPS for the quarter, topping the consensus estimate of $2.11 by $0.24, Zacks reports. Chord Energy had a return on equity of 9.02% and a net margin of 5.02%.

Chord Energy Stock Down 2.2%

CHRD stock traded down $1.99 on Tuesday, reaching $88.93. 951,553 shares of the company traded hands, compared to its average volume of 830,925. The firm has a fifty day simple moving average of $99.25 and a 200-day simple moving average of $99.67. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.97 and a quick ratio of 0.90. Chord Energy has a one year low of $79.83 and a one year high of $136.38. The company has a market cap of $5.09 billion, a P/E ratio of 22.63 and a beta of 0.92.

Chord Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 8th. Investors of record on Thursday, August 21st were given a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a yield of 5.8%. The ex-dividend date of this dividend was Thursday, August 21st. Chord Energy’s dividend payout ratio (DPR) is 132.32%.

Insiders Place Their Bets

In related news, EVP Shannon Browning Kinney sold 3,019 shares of Chord Energy stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $105.43, for a total transaction of $318,293.17. Following the transaction, the executive vice president directly owned 14,650 shares in the company, valued at approximately $1,544,549.50. The trade was a 17.09% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.70% of the company’s stock.

Institutional Investors Weigh In On Chord Energy

Several large investors have recently made changes to their positions in CHRD. WealthCollab LLC grew its stake in shares of Chord Energy by 90.6% during the second quarter. WealthCollab LLC now owns 305 shares of the company’s stock valued at $30,000 after buying an additional 145 shares during the last quarter. Benjamin Edwards Inc. lifted its holdings in shares of Chord Energy by 9.8% during the 2nd quarter. Benjamin Edwards Inc. now owns 3,585 shares of the company’s stock valued at $347,000 after purchasing an additional 319 shares during the last quarter. Corient Private Wealth LLC increased its position in shares of Chord Energy by 5.0% in the 2nd quarter. Corient Private Wealth LLC now owns 24,565 shares of the company’s stock valued at $2,379,000 after acquiring an additional 1,166 shares during the period. EverSource Wealth Advisors LLC increased its position in shares of Chord Energy by 364.2% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,555 shares of the company’s stock valued at $151,000 after acquiring an additional 1,220 shares during the period. Finally, Vident Advisory LLC grew its position in Chord Energy by 13.8% during the 2nd quarter. Vident Advisory LLC now owns 12,250 shares of the company’s stock worth $1,186,000 after purchasing an additional 1,486 shares during the period. 97.76% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts recently commented on CHRD shares. UBS Group lifted their price objective on Chord Energy from $122.00 to $130.00 and gave the stock a “buy” rating in a research report on Tuesday, September 16th. Morgan Stanley reduced their price objective on Chord Energy from $131.00 to $128.00 and set an “equal weight” rating for the company in a research note on Tuesday, October 14th. Citigroup raised their target price on Chord Energy from $120.00 to $125.00 and gave the company a “buy” rating in a report on Wednesday, July 9th. Wells Fargo & Company dropped their price target on Chord Energy from $149.00 to $108.00 and set an “overweight” rating on the stock in a report on Friday, October 17th. Finally, Piper Sandler lowered their target price on Chord Energy from $169.00 to $167.00 and set an “overweight” rating on the stock in a research note on Friday, October 3rd. Ten equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $138.38.

View Our Latest Report on Chord Energy

Chord Energy Company Profile

(Get Free Report)

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.

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