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

Chord Energy Co. (NASDAQ:CHRD) announced a quarterly dividend on Wednesday, August 7th, Zacks reports. Shareholders of record on Wednesday, August 21st will be given a dividend of 1.25 per share on Thursday, September 5th. This represents a $5.00 annualized dividend and a yield of 3.27%. The ex-dividend date of this dividend is Wednesday, August 21st.

Chord Energy has a payout ratio of 24.6% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Chord Energy to earn $21.88 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 22.9%.

Chord Energy Price Performance

Shares of NASDAQ:CHRD traded up $1.72 during midday trading on Friday, hitting $152.78. 181,660 shares of the stock were exchanged, compared to its average volume of 908,121. Chord Energy has a twelve month low of $145.53 and a twelve month high of $190.23. The company has a current ratio of 1.14, a quick ratio of 1.07 and a debt-to-equity ratio of 0.08. The company has a 50 day moving average price of $168.89 and a 200-day moving average price of $170.19. The stock has a market cap of $6.37 billion, a P/E ratio of 7.09, a PEG ratio of 0.92 and a beta of 1.01.

Chord Energy (NASDAQ:CHRD) last announced its earnings results on Wednesday, August 7th. The company reported $4.69 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $5.00 by ($0.31). The business had revenue of $902.70 million for the quarter, compared to analyst estimates of $982.43 million. Chord Energy had a return on equity of 16.57% and a net margin of 22.67%. The business’s revenue was up 29.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.65 EPS. On average, research analysts forecast that Chord Energy will post 20.85 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Truist Financial dropped their price target on Chord Energy from $226.00 to $223.00 and set a “buy” rating for the company in a research report on Monday, July 22nd. Royal Bank of Canada boosted their target price on shares of Chord Energy from $180.00 to $200.00 and gave the company an “outperform” rating in a research note on Monday, April 29th. Citigroup began coverage on shares of Chord Energy in a research note on Monday, July 1st. They set a “buy” rating and a $195.00 price target on the stock. Mizuho boosted their price objective on shares of Chord Energy from $195.00 to $214.00 and gave the company a “buy” rating in a research report on Monday, May 13th. 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. One analyst has rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, Chord Energy currently has an average rating of “Moderate Buy” and a consensus price target of $210.78.

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.