Chord Energy Corporation Declares Quarterly Dividend of $1.30 (NASDAQ:CHRD)

Chord Energy Corporation (NASDAQ:CHRD) announced 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) dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date is Wednesday, May 20th.

Chord Energy has a payout ratio of 53.7% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Chord Energy to earn $13.09 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 39.7%.

Chord Energy Trading Down 5.4%

NASDAQ CHRD opened at $141.07 on Wednesday. The company has a market capitalization of $8.00 billion, a price-to-earnings ratio of 224.45 and a beta of 0.52. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.06 and a quick ratio of 0.98. Chord Energy has a 12 month low of $84.25 and a 12 month high of $150.50. The company’s fifty day moving average price is $129.95 and its two-hundred day moving average price is $106.64.

Chord Energy (NASDAQ:CHRD) last issued its earnings results on Tuesday, May 5th. The company reported $4.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.49 by $1.07. Chord Energy had a net margin of 0.91% and a return on equity of 6.71%. The business had revenue of $1.67 billion for the quarter, compared to analyst estimates of $1.21 billion. During the same quarter in the prior year, the business posted $4.04 EPS. The company’s revenue for the quarter was up 37.1% on a year-over-year basis. As a group, research analysts predict that Chord Energy will post 16.94 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Weiss Ratings raised Chord Energy from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Tuesday, March 17th. Jefferies Financial Group set a $99.00 price objective on shares of Chord Energy in a research report on Saturday, January 17th. Wall Street Zen raised shares of Chord Energy from a “sell” rating to a “hold” rating in a research note on Saturday, March 28th. Pickering Energy Partners lowered shares of Chord Energy from an “outperform” rating to a “neutral” rating in a research note on Friday, January 9th. Finally, Truist Financial lifted their price target on Chord Energy from $169.00 to $187.00 and gave the company a “buy” rating in a report on Monday, April 13th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $153.46.

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.