Chord Energy Corporation (CHRD) to Issue Quarterly Dividend of $1.30 on June 5th

Chord Energy Corporation (NASDAQ:CHRD) declared a quarterly dividend on Tuesday, May 5th. Investors of record on Wednesday, May 20th will be paid a dividend of 1.30 per share on Friday, June 5th. This represents a c) annualized dividend and a yield of 3.5%. The ex-dividend date of this dividend is Wednesday, May 20th.

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 $14.12 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 36.8%.

Chord Energy Price Performance

Shares of NASDAQ CHRD opened at $148.39 on Monday. The firm’s 50-day moving average is $135.21 and its two-hundred day moving average is $109.48. The company has a market capitalization of $8.35 billion, a PE ratio of -131.32 and a beta of 0.52. Chord Energy has a 12-month low of $84.25 and a 12-month high of $150.50. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.02 and a quick ratio of 0.96.

Chord Energy (NASDAQ:CHRD) last posted its quarterly earnings data on Tuesday, May 5th. The company reported $4.56 EPS for the quarter, beating analysts’ consensus estimates of $3.51 by $1.05. The business had revenue of $1.67 billion for the quarter, compared to analyst estimates of $1.21 billion. Chord Energy had a positive return on equity of 7.06% and a negative net margin of 1.25%.The business’s revenue for the quarter was up 37.1% compared to the same quarter last year. During the same quarter last year, the company earned $4.04 earnings per share. Equities analysts anticipate that Chord Energy will post 18.61 EPS for the current fiscal year.

Insider Transactions at Chord Energy

In related news, EVP Michael H. Lou sold 15,000 shares of the company’s stock in a transaction that occurred on Thursday, March 12th. The stock was sold at an average price of $125.47, for a total transaction of $1,882,050.00. Following the sale, the executive vice president directly owned 82,699 shares of the company’s stock, valued at approximately $10,376,243.53. This represents a 15.35% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Douglas E. Brooks sold 1,500 shares of the firm’s stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $138.57, for a total transaction of $207,855.00. Following the completion of the transaction, the director directly owned 18,705 shares in the company, valued at $2,591,951.85. This represents a 7.42% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 31,927 shares of company stock valued at $4,011,738 in the last three months. Corporate insiders own 0.79% of the company’s stock.

Institutional Investors Weigh In On Chord Energy

Large investors have recently made changes to their positions in the company. Bessemer Group Inc. boosted its position in shares of Chord Energy by 63.8% during the first quarter. Bessemer Group Inc. now owns 190 shares of the company’s stock worth $27,000 after buying an additional 74 shares during the period. V Square Quantitative Management LLC bought a new stake in Chord Energy during the 1st quarter valued at $29,000. WealthCollab LLC raised its stake in Chord Energy by 90.6% during the 2nd quarter. WealthCollab LLC now owns 305 shares of the company’s stock valued at $30,000 after acquiring an additional 145 shares in the last quarter. Quent Capital LLC acquired a new position in Chord Energy during the 3rd quarter worth $32,000. Finally, Root Financial Partners LLC boosted its position in Chord Energy by 178.6% during the 1st quarter. Root Financial Partners LLC now owns 234 shares of the company’s stock worth $33,000 after acquiring an additional 150 shares during the period. Institutional investors and hedge funds own 97.76% of the company’s stock.

About Chord Energy

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.