Chord Energy Co. (NASDAQ:CHRD) Announces Quarterly Dividend of $1.25

Chord Energy Co. (NASDAQ:CHRD) declared a quarterly dividend on Wednesday, November 6th,Zacks Dividends reports. Shareholders of record on Wednesday, November 27th will be given a dividend of 1.25 per share on Thursday, December 12th. This represents a $5.00 annualized dividend and a yield of 3.81%. The ex-dividend date is Wednesday, November 27th.

Chord Energy has a dividend payout ratio of 34.6% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Chord Energy to earn $16.06 per share next year, which means the company should continue to be able to cover its $5.00 annual dividend with an expected future payout ratio of 31.1%.

Chord Energy Stock Down 1.3 %

CHRD traded down $1.76 during trading on Friday, reaching $131.10. The company had a trading volume of 63,490 shares, compared to its average volume of 879,443. The company has a market cap of $8.11 billion, a P/E ratio of 6.84, a PEG ratio of 4.86 and a beta of 0.98. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.96 and a quick ratio of 0.91. Chord Energy has a 12 month low of $123.30 and a 12 month high of $190.23. The business’s fifty day moving average price is $132.59 and its 200 day moving average price is $156.69.

Chord Energy (NASDAQ:CHRD) last issued its quarterly earnings results on Wednesday, November 6th. The company reported $3.40 EPS for the quarter, missing analysts’ consensus estimates of $3.63 by ($0.23). The firm had revenue of $1.12 billion during the quarter, compared to the consensus estimate of $1.26 billion. Chord Energy had a net margin of 20.83% and a return on equity of 15.06%. The business’s revenue for the quarter was up 33.4% on a year-over-year basis. During the same quarter last year, the firm earned $5.04 earnings per share. Equities analysts anticipate that Chord Energy will post 17.07 EPS for the current year.

Insider Buying and Selling

In other Chord Energy news, Director Samantha Holroyd bought 500 shares of Chord Energy stock in a transaction dated Friday, August 23rd. The stock was bought at an average price of $149.51 per share, with a total value of $74,755.00. Following the completion of the transaction, the director now owns 14,417 shares in the company, valued at $2,155,485.67. The trade was a 0.00 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.70% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on CHRD shares. Bank of America raised their price target on shares of Chord Energy from $201.00 to $208.00 and gave the stock a “buy” rating in a research note on Wednesday, August 21st. Jefferies Financial Group assumed coverage on Chord Energy in a report on Thursday, September 5th. They issued a “hold” rating and a $160.00 price objective for the company. Citigroup lowered their target price on shares of Chord Energy from $195.00 to $180.00 and set a “buy” rating on the stock in a report on Monday, August 12th. UBS Group initiated coverage on shares of Chord Energy in a research report on Wednesday, October 16th. They issued a “buy” rating and a $168.00 price objective for the company. Finally, Wolfe Research began coverage on shares of Chord Energy in a research note on Thursday, July 18th. They set a “peer perform” rating on the stock. Two research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given 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 $190.18.

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.