Chord Energy (NASDAQ:CHRD) Posts Earnings Results, Beats Expectations By $0.74 EPS

Chord Energy (NASDAQ:CHRD) posted its earnings results on Tuesday. The company reported $3.49 earnings per share for the quarter, beating the consensus estimate of $2.75 by $0.74, Zacks reports. Chord Energy had a net margin of 19.74% and a return on equity of 12.88%.

Chord Energy Trading Down 2.5 %

Shares of Chord Energy stock traded down $2.77 on Tuesday, reaching $108.56. The company had a trading volume of 1,163,533 shares, compared to its average volume of 768,374. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.89 and a current ratio of 0.93. The firm has a market cap of $6.64 billion, a PE ratio of 5.59, a PEG ratio of 5.83 and a beta of 0.98. The firm’s 50 day moving average price is $116.40 and its two-hundred day moving average price is $127.55. Chord Energy has a 52-week low of $107.24 and a 52-week high of $190.23.

Chord Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Wednesday, November 27th were paid a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a yield of 4.61%. The ex-dividend date of this dividend was Wednesday, November 27th. Chord Energy’s dividend payout ratio (DPR) is presently 25.75%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Wolfe Research upgraded shares of Chord Energy from a “peer perform” rating to an “outperform” rating and set a $155.00 price objective for the company in a research report on Friday, January 3rd. Wells Fargo & Company lowered their price target 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. Piper Sandler cut their price objective on Chord Energy from $194.00 to $193.00 and set an “overweight” rating for the company in a research report on Wednesday, January 15th. Mizuho decreased their target price on Chord Energy from $192.00 to $178.00 and set an “outperform” rating on the stock in a research report on Monday, December 16th. Finally, UBS Group reduced their price target on shares of Chord Energy from $168.00 to $161.00 and set a “buy” rating for the company in a research report on Monday, December 9th. Three research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $173.08.

Insider Activity at Chord Energy

In other Chord Energy news, CAO Shannon Browning Kinney sold 1,000 shares of Chord Energy stock in a transaction dated Monday, December 16th. The stock was 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 $2,267,428.80. The trade was a 4.88 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.70% of the stock is owned by insiders.

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.