Capital One Financial Equities Analysts Decrease Earnings Estimates for Chord Energy Co. (NASDAQ:CHRD)

Chord Energy Co. (NASDAQ:CHRDFree Report) – Stock analysts at Capital One Financial decreased their Q2 2024 earnings per share estimates for Chord Energy in a report released on Monday, May 13th. Capital One Financial analyst P. Johnston now forecasts that the company will post earnings per share of $5.20 for the quarter, down from their previous forecast of $5.49. The consensus estimate for Chord Energy’s current full-year earnings is $22.29 per share. Capital One Financial also issued estimates for Chord Energy’s Q3 2024 earnings at $5.86 EPS and Q4 2024 earnings at $6.08 EPS.

Chord Energy (NASDAQ:CHRDGet Free Report) last announced its quarterly earnings results on Tuesday, May 7th. The company reported $5.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.75 by $0.35. Chord Energy had a net margin of 22.67% and a return on equity of 16.57%. The company had revenue of $1.09 billion during the quarter, compared to the consensus estimate of $771.87 million. During the same period in the prior year, the business earned $4.50 earnings per share. The company’s revenue for the quarter was up 24.8% compared to the same quarter last year.

CHRD has been the subject of several other reports. Mizuho upped their price target on shares of Chord Energy from $195.00 to $214.00 and gave the company a “buy” rating in a research report on Monday. Piper Sandler upped their price target on Chord Energy from $230.00 to $231.00 and gave the company an “overweight” rating in a research report on Tuesday. Truist Financial decreased their target price on shares of Chord Energy from $229.00 to $224.00 and set a “buy” rating for the company in a research report on Friday, April 5th. Stifel Nicolaus increased their price objective on shares of Chord Energy from $178.00 to $211.00 and gave the stock a “buy” rating in a research report on Tuesday, February 27th. Finally, Royal Bank of Canada upped their price target on shares of Chord Energy from $180.00 to $200.00 and gave the company an “outperform” rating in a research report on Monday, April 29th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, Chord Energy currently has an average rating of “Moderate Buy” and an average target price of $195.50.

Check Out Our Latest Stock Report on CHRD

Chord Energy Stock Performance

Shares of CHRD stock opened at $181.10 on Tuesday. The firm has a market capitalization of $7.55 billion, a price-to-earnings ratio of 8.50 and a beta of 1.07. 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 business’s 50-day moving average price is $176.52 and its 200-day moving average price is $166.29. Chord Energy has a 12 month low of $137.78 and a 12 month high of $190.23.

Chord Energy Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 5th. Investors of record on Wednesday, May 22nd will be given a $2.94 dividend. This represents a $11.76 annualized dividend and a yield of 6.49%. The ex-dividend date of this dividend is Tuesday, May 21st. Chord Energy’s payout ratio is currently 23.46%.

Insider Buying and Selling at Chord Energy

In other news, CFO Michael H. Lou sold 3,000 shares of Chord Energy stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $165.00, for a total transaction of $495,000.00. Following the completion of the transaction, the chief financial officer now directly owns 128,209 shares in the company, valued at $21,154,485. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.70% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the stock. Vanguard Group Inc. raised its position in Chord Energy by 0.5% in the 3rd quarter. Vanguard Group Inc. now owns 4,351,393 shares of the company’s stock valued at $705,230,000 after buying an additional 21,034 shares during the last quarter. FMR LLC raised its holdings in shares of Chord Energy by 12.9% in the third quarter. FMR LLC now owns 3,185,243 shares of the company’s stock valued at $516,232,000 after purchasing an additional 364,673 shares during the last quarter. Wellington Management Group LLP lifted its position in shares of Chord Energy by 1.0% during the third quarter. Wellington Management Group LLP now owns 2,671,474 shares of the company’s stock valued at $432,966,000 after purchasing an additional 26,896 shares in the last quarter. First Trust Advisors LP boosted its holdings in Chord Energy by 11.0% during the fourth quarter. First Trust Advisors LP now owns 1,402,359 shares of the company’s stock worth $233,114,000 after purchasing an additional 138,957 shares during the last quarter. Finally, Jennison Associates LLC grew its position in Chord Energy by 0.4% in the 3rd quarter. Jennison Associates LLC now owns 802,175 shares of the company’s stock worth $130,009,000 after purchasing an additional 2,837 shares in the last quarter. Institutional investors own 97.76% of the company’s stock.

Chord Energy Company Profile

(Get Free Report)

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.

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Earnings History and Estimates for Chord Energy (NASDAQ:CHRD)

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