Chord Energy Co. (NASDAQ:CHRD) to Issue $1.25 Quarterly Dividend

Chord Energy Co. (NASDAQ:CHRD - Get Free Report) declared a quarterly dividend on Wednesday, November 6th,Zacks Dividends reports. Shareholders of record on Wednesday, November 27th will be given a dividend of 1.25 per share on Thursday, December 12th. This represents a $5.00 dividend on an annualized basis and a yield of 3.79%. The ex-dividend date of this dividend is Wednesday, November 27th.

Chord Energy has a payout ratio of 34.6% indicating that its dividend is sufficiently covered by earnings. Analysts expect Chord Energy to earn $16.06 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 31.1%.

Chord Energy Stock Performance

CHRD traded down $0.85 during midday trading on Friday, reaching $132.01. The company had a trading volume of 812,293 shares, compared to its average volume of 882,894. The company has a quick ratio of 0.91, a current ratio of 0.96 and a debt-to-equity ratio of 0.11. The business has a 50-day moving average of $132.59 and a two-hundred day moving average of $156.69. The company has a market cap of $8.17 billion, a P/E ratio of 6.84, a P/E/G ratio of 4.86 and a beta of 0.98. Chord Energy has a 1 year low of $123.30 and a 1 year high of $190.23.

Chord Energy (NASDAQ:CHRD - Get Free Report) last issued its quarterly earnings results on Wednesday, November 6th. The company reported $3.40 EPS for the quarter, missing analysts' consensus estimates of $3.63 by ($0.23). The company had revenue of $1.12 billion during the quarter, compared to analysts' expectations of $1.26 billion. Chord Energy had a return on equity of 15.06% and a net margin of 20.83%. The business's quarterly revenue was up 33.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $5.04 EPS. As a group, equities research analysts predict that Chord Energy will post 17.07 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Citigroup cut their target price on Chord Energy from $195.00 to $180.00 and set a "buy" rating for the company in a research report on Monday, August 12th. Truist Financial cut their target price on Chord Energy from $223.00 to $185.00 and set a "buy" rating for the company in a research report on Monday, September 30th. Royal Bank of Canada reiterated an "outperform" rating and set a $200.00 target price on shares of Chord Energy in a research report on Friday, September 20th. Siebert Williams Shank upgraded Chord Energy to a "strong-buy" rating in a research report on Tuesday, October 15th. Finally, UBS Group began coverage on Chord Energy in a report on Wednesday, October 16th. They set a "buy" rating and a $168.00 price target for the company. Two equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $190.18.

Insider Activity

In related news, Director Samantha Holroyd acquired 500 shares of the stock in a transaction dated Friday, August 23rd. The stock was acquired at an average cost of $149.51 per share, with a total value of $74,755.00. Following the purchase, the director now directly owns 14,417 shares of the company's stock, valued at approximately $2,155,485.67. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.70% of the company's stock.

About Chord Energy

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.