Chord Energy Co. (CHRD) To Go Ex-Dividend on May 21st

Chord Energy Co. (NASDAQ:CHRD) declared a quarterly dividend on Tuesday, May 7th, Zacks reports. Investors of record on Wednesday, May 22nd will be given a dividend of 2.94 per share on Wednesday, June 5th. This represents a $11.76 dividend on an annualized basis and a dividend yield of 6.48%. The ex-dividend date of this dividend is Tuesday, May 21st.

Chord Energy has a payout ratio of 24.0% meaning its dividend is sufficiently covered by earnings. Research analysts expect Chord Energy to earn $22.37 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 22.4%.

Chord Energy Trading Up 0.6 %

CHRD stock traded up $1.15 during midday trading on Thursday, hitting $181.37. The stock had a trading volume of 254,454 shares, compared to its average volume of 662,318. The company has a current ratio of 1.22, a quick ratio of 1.16 and a debt-to-equity ratio of 0.08. The business has a fifty day moving average price of $175.41 and a two-hundred day moving average price of $166.02. Chord Energy has a 1-year low of $137.78 and a 1-year high of $190.23. The firm has a market cap of $7.53 billion, a P/E ratio of 7.66 and a beta of 1.07.

Chord Energy (NASDAQ:CHRD) last issued its quarterly earnings data on Tuesday, May 7th. The company reported $5.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.75 by $0.35. The business had revenue of $1.09 billion during the quarter, compared to the consensus estimate of $771.87 million. Chord Energy had a net margin of 26.27% and a return on equity of 16.35%. The firm’s quarterly revenue was up 24.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $4.50 EPS. On average, sell-side analysts predict that Chord Energy will post 22.03 earnings per share for the current fiscal year.

Insider Activity at Chord Energy

In other Chord Energy news, CFO Michael H. Lou sold 3,000 shares of the firm’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $165.00, for a total value of $495,000.00. Following the sale, the chief financial officer now owns 128,209 shares of the company’s stock, valued at approximately $21,154,485. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.70% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts recently weighed in on CHRD shares. Mizuho increased their price target on shares of Chord Energy from $189.00 to $195.00 and gave the company a “buy” rating in a research report on Thursday, March 14th. Royal Bank of Canada upped their price objective on Chord Energy from $180.00 to $200.00 and gave the company an “outperform” rating in a research note on Monday, April 29th. Truist Financial decreased their target price on 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 target on Chord Energy from $178.00 to $211.00 and gave the stock a “buy” rating in a research note on Tuesday, February 27th. Finally, Piper Sandler boosted their price objective on Chord Energy from $219.00 to $230.00 and gave the company an “overweight” rating in a research note on Friday, April 19th. One 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’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $193.50.

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.