Chord Energy Corporation (CHRD) To Go Ex-Dividend on March 12th

Chord Energy Corporation (NASDAQ:CHRD) announced a quarterly dividend on Wednesday, February 25th. Stockholders of record on Thursday, March 12th will be given a dividend of 1.30 per share on Friday, March 27th. This represents a c) annualized dividend and a dividend yield of 4.9%. The ex-dividend date of this dividend is Thursday, March 12th.

Chord Energy has a payout ratio of 53.7% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Chord Energy to earn $13.13 per share next year, which means the company should continue to be able to cover its $5.20 annual dividend with an expected future payout ratio of 39.6%.

Chord Energy Stock Performance

NASDAQ:CHRD opened at $105.38 on Friday. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.35 and a quick ratio of 1.28. The firm has a market cap of $5.99 billion, a price-to-earnings ratio of 167.27 and a beta of 0.92. The firm’s fifty day moving average price is $96.52 and its 200 day moving average price is $97.05. Chord Energy has a 1-year low of $79.83 and a 1-year high of $116.09.

Chord Energy (NASDAQ:CHRD) last released its earnings results on Wednesday, February 25th. The company reported $1.28 EPS for the quarter, topping the consensus estimate of $1.17 by $0.11. The company had revenue of $1.17 billion during the quarter, compared to analysts’ expectations of $1.03 billion. Chord Energy had a net margin of 0.91% and a return on equity of 6.68%. The business’s revenue was down 19.6% on a year-over-year basis. During the same quarter last year, the business earned $3.49 EPS. On average, sell-side analysts expect that Chord Energy will post 15.59 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on CHRD. Scotiabank restated a “sector perform” rating and issued a $114.00 price objective on shares of Chord Energy in a research report on Friday, January 16th. Piper Sandler lowered their price target on shares of Chord Energy from $160.00 to $151.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 11th. Royal Bank Of Canada reduced their price objective on shares of Chord Energy from $135.00 to $128.00 and set an “outperform” rating for the company in a research note on Tuesday, January 13th. Wells Fargo & Company decreased their price objective on shares of Chord Energy from $113.00 to $109.00 and set an “overweight” rating on the stock in a report on Tuesday, January 27th. Finally, Citigroup cut shares of Chord Energy from a “buy” rating to a “neutral” rating and dropped their target price for the company from $105.00 to $97.00 in a report on Wednesday, January 14th. Eight equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $123.92.

Chord Energy Company Profile

Chord Energy Corporation (NASDAQ: CHRD), formerly known as Oasis Petroleum Inc, is an independent exploration and production company focused on the acquisition, development and production of crude oil, natural gas and natural gas liquids. Headquartered in Houston, Texas, Chord Energy emerged from financial restructuring in early 2021 and rebranded in October 2022 to reflect its renewed strategic vision.

The company’s core operations are concentrated in two prolific U.S. resource plays: the Williston Basin across North Dakota and Montana, and the Delaware Basin spanning parts of West Texas and southeastern New Mexico.