Chord Energy FY2024 EPS Lowered by Capital One Financial

Chord Energy Co. (NASDAQ:CHRD - Free Report) - Research analysts at Capital One Financial cut their FY2024 earnings estimates for shares of Chord Energy in a note issued to investors on Tuesday, November 12th. Capital One Financial analyst P. Johnston now forecasts that the company will post earnings of $16.10 per share for the year, down from their prior estimate of $16.45. The consensus estimate for Chord Energy's current full-year earnings is $16.87 per share. Capital One Financial also issued estimates for Chord Energy's Q4 2024 earnings at $2.89 EPS and Q1 2025 earnings at $2.51 EPS.

A number of other equities analysts have also recently weighed in on the stock. Jefferies Financial Group began coverage on shares of Chord Energy in a research report on Thursday, September 5th. They set a "hold" rating and a $160.00 price target on the stock. Wolfe Research began coverage on shares of Chord Energy in a research report on Thursday, July 18th. They set a "peer perform" rating on the stock. Citigroup reduced their price target on shares of Chord Energy from $195.00 to $180.00 and set a "buy" rating on the stock in a research report on Monday, August 12th. Piper Sandler boosted their price objective on shares of Chord Energy from $206.00 to $211.00 and gave the company an "overweight" rating in a research report on Tuesday, October 15th. Finally, Truist Financial cut their price objective on shares of Chord Energy from $223.00 to $185.00 and set a "buy" rating on the stock in a research report on Monday, September 30th. Two equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $190.18.

Chord Energy Trading Down 2.8 %

Shares of NASDAQ CHRD traded down $3.61 during midday trading on Friday, reaching $127.28. 882,062 shares of the stock were exchanged, compared to its average volume of 880,831. The business has a 50-day simple moving average of $131.20 and a two-hundred day simple moving average of $154.45. The company has a market capitalization of $7.78 billion, a price-to-earnings ratio of 6.55, a P/E/G ratio of 5.07 and a beta of 0.98. Chord Energy has a 12 month low of $123.30 and a 12 month high of $190.23. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.93 and a quick ratio of 0.89.

Chord Energy (NASDAQ:CHRD - Get Free Report) last released its 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 business had revenue of $1.12 billion for the quarter, compared to analyst estimates of $1.26 billion. Chord Energy had a return on equity of 12.88% and a net margin of 19.74%. Chord Energy's revenue was up 33.4% on a year-over-year basis. During the same period in the prior year, the firm posted $5.04 EPS.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. FMR LLC increased its stake in shares of Chord Energy by 2.2% during the 3rd quarter. FMR LLC now owns 3,420,012 shares of the company's stock worth $445,388,000 after purchasing an additional 74,165 shares during the last quarter. State Street Corp grew its stake in Chord Energy by 0.9% in the 3rd quarter. State Street Corp now owns 2,485,777 shares of the company's stock valued at $323,723,000 after buying an additional 22,753 shares during the last quarter. Victory Capital Management Inc. grew its stake in Chord Energy by 41.3% in the 3rd quarter. Victory Capital Management Inc. now owns 2,245,435 shares of the company's stock valued at $292,423,000 after buying an additional 656,374 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in Chord Energy by 72.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,771,780 shares of the company's stock valued at $297,090,000 after buying an additional 741,705 shares during the last quarter. Finally, Boston Partners grew its stake in Chord Energy by 107.0% in the 1st quarter. Boston Partners now owns 1,305,942 shares of the company's stock valued at $232,813,000 after buying an additional 674,965 shares during the last quarter. 97.76% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Samantha Holroyd acquired 500 shares of the stock in a transaction dated Friday, August 23rd. The shares were bought at an average cost of $149.51 per share, for a total transaction 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 3.59 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.70% of the company's stock.

Chord Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Wednesday, November 27th will be given a dividend of $1.25 per share. The ex-dividend date is Wednesday, November 27th. This represents a $5.00 annualized dividend and a yield of 3.93%. Chord Energy's dividend payout ratio (DPR) is presently 25.75%.

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.