Chord Energy (NASDAQ:CHRD) Announces Quarterly Earnings Results

Chord Energy (NASDAQ:CHRD) posted its quarterly earnings data on Wednesday. The company reported $1.28 EPS for the quarter, topping analysts’ consensus estimates of $1.17 by $0.11, Zacks reports. Chord Energy had a return on equity of 8.27% and a net margin of 3.31%.The company had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.03 billion. During the same quarter in the previous year, the firm earned $3.49 earnings per share. The business’s revenue was down 19.6% on a year-over-year basis.

Chord Energy Price Performance

Shares of CHRD opened at $103.70 on Thursday. The company has a current ratio of 1.35, a quick ratio of 1.28 and a debt-to-equity ratio of 0.18. The stock has a market cap of $5.90 billion, a P/E ratio of 39.88 and a beta of 0.92. The stock’s 50-day moving average price is $96.22 and its two-hundred day moving average price is $96.99. Chord Energy has a 1 year low of $79.83 and a 1 year high of $116.09.

Chord Energy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, March 27th. Shareholders of record on Thursday, March 12th will be issued a dividend of $1.30 per share. The ex-dividend date is Thursday, March 12th. This represents a $5.20 dividend on an annualized basis and a yield of 5.0%. Chord Energy’s dividend payout ratio (DPR) is 200.00%.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on CHRD. Wall Street Zen downgraded shares of Chord Energy from a “hold” rating to a “sell” rating in a research note on Saturday, November 1st. UBS Group dropped their price objective on shares of Chord Energy from $123.00 to $119.00 and set a “buy” rating for the company in a research report on Friday, January 9th. Jefferies Financial Group set a $99.00 price objective on Chord Energy in a research report on Saturday, January 17th. Mizuho set a $148.00 target price on Chord Energy in a research report on Friday, January 9th. Finally, Scotiabank reaffirmed a “sector perform” rating and set a $114.00 price target on shares of Chord Energy in a research note on Friday, January 16th. Eight equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $123.92.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of CHRD. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in Chord Energy by 17.1% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 123,964 shares of the company’s stock worth $13,973,000 after purchasing an additional 18,137 shares during the period. Focus Partners Wealth acquired a new stake in Chord Energy during the 1st quarter worth approximately $289,000. EverSource Wealth Advisors LLC lifted its position in Chord Energy by 364.2% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,555 shares of the company’s stock valued at $151,000 after acquiring an additional 1,220 shares in the last quarter. Jump Financial LLC acquired a new position in Chord Energy in the 2nd quarter worth $1,010,000. Finally, Gamco Investors INC. ET AL boosted its stake in Chord Energy by 108.5% in the 2nd quarter. Gamco Investors INC. ET AL now owns 10,429 shares of the company’s stock worth $1,010,000 after purchasing an additional 5,428 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.