Chord Energy Corporation (NASDAQ:CHRD) Shareholders Set to Receive $1.30 Quarterly Dividend

Chord Energy Corporation (NASDAQ:CHRD) declared a quarterly dividend on Wednesday, November 4th. Stockholders of record on Thursday, November 19th will be given a dividend of $1.30 per share on Monday, December 7th. This represents a $5.20 annualized dividend and a dividend yield of 3.9%. The ex-dividend date is Thursday, November 19th.

Chord Energy has a payout ratio of 53.7% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Chord Energy to earn $20.02 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 26.0%.

Chord Energy Stock Down 8.0%

NASDAQ:CHRD opened at $132.33 on Thursday. Chord Energy has a one year low of $84.25 and a one year high of $159.96. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.15 and a current ratio of 1.22. The company has a market capitalization of $7.24 billion, a price-to-earnings ratio of 8.87 and a beta of 0.48. The stock has a 50-day simple moving average of $145.76 and a 200 day simple moving average of $131.45.

Chord Energy (NASDAQ:CHRD) last announced its quarterly earnings results on Wednesday, November 4th. The company reported $6.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.68 by $0.40. The business had revenue of $1.71 billion for the quarter, compared to the consensus estimate of $1.64 billion. Chord Energy had a return on equity of 10.18% and a net margin of 13.42%. The business’s revenue was up 30.0% on a year-over-year basis. During the same quarter last year, the business posted $2.35 EPS. Sell-side analysts predict that Chord Energy will post 23.11 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Samantha Mckinney sold 9,750 shares of the company’s stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $149.94, for a total transaction of $1,461,915.00. Following the transaction, the director owned 7,280 shares in the company, valued at $1,091,563.20. This represents a 57.25% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Shannon Kinney sold 4,019 shares of the stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $140.00, for a total transaction of $562,660.00. Following the sale, the executive vice president directly owned 13,560 shares in the company, valued at $1,898,400. This trade represents a 22.86% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 23,969 shares of company stock valued at $3,389,599. 0.79% of the stock is currently owned by insiders.

Institutional Trading of Chord Energy

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP raised its holdings in Chord Energy by 27.1% during the first quarter. Dimensional Fund Advisors LP now owns 1,547,732 shares of the company’s stock worth $220,078,000 after acquiring an additional 329,565 shares in the last quarter. Allspring Global Investments Holdings LLC increased its position in Chord Energy by 1.0% during the first quarter. Allspring Global Investments Holdings LLC now owns 734,416 shares of the company’s stock worth $100,586,000 after acquiring an additional 7,250 shares during the period. Bank of New York Mellon Corp acquired a new stake in shares of Chord Energy in the second quarter valued at approximately $66,489,000. First Trust Advisors LP raised its holdings in Chord Energy by 98.2% in the 1st quarter. First Trust Advisors LP now owns 579,920 shares of the company’s stock valued at $82,453,000 after acquiring an additional 287,340 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its position in Chord Energy by 178.6% during the first quarter. Arrowstreet Capital Limited Partnership now owns 424,841 shares of the company’s stock worth $60,404,000 after purchasing an additional 272,349 shares during the period. 97.76% of the stock is owned by institutional investors.

Chord Energy Company Profile

Chord Energy Corporation is an independent exploration and production company focused on the development and operation of oil and natural gas properties in the United States. Its portfolio is concentrated in the Williston Basin, which spans parts of North Dakota and Montana. The company’s production mix includes crude oil, natural gas and natural gas liquids.

Chord’s operations include acquiring, developing and producing hydrocarbons from operated and non-operated wells, with an emphasis on drilling and completion activities in the Bakken and Three Forks formations.