Chord Energy Co. (NASDAQ:CHRD) to Post Q3 2024 Earnings of $5.67 Per Share, Capital One Financial Forecasts

Chord Energy Co. (NASDAQ:CHRD) – Analysts at Capital One Financial lowered their Q3 2024 EPS estimates for shares of Chord Energy in a report released on Monday, June 17th. Capital One Financial analyst P. Johnston now expects that the company will earn $5.67 per share for the quarter, down from their previous estimate of $5.86. The consensus estimate for Chord Energy’s current full-year earnings is $22.63 per share. Capital One Financial also issued estimates for Chord Energy’s Q4 2024 earnings at $5.94 EPS, FY2024 earnings at $22.01 EPS and FY2025 earnings at $22.96 EPS.

CHRD has been the topic of several other reports. Stifel Nicolaus upped their price target on shares of Chord Energy from $178.00 to $211.00 and gave the company a “buy” rating in a report on Tuesday, February 27th. Royal Bank of Canada upped their price target on shares of Chord Energy from $180.00 to $200.00 and gave the company an “outperform” rating in a report on Monday, April 29th. Mizuho upped their price target on shares of Chord Energy from $195.00 to $214.00 and gave the company a “buy” rating in a report on Monday, May 13th. Bank of America restated a “buy” rating and issued a $201.00 target price on shares of Chord Energy in a research note on Friday. Finally, BMO Capital Markets began coverage on shares of Chord Energy in a research note on Monday, June 3rd. They issued an “outperform” rating and a $230.00 target price on the stock. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $204.00.

Chord Energy Stock Performance

Shares of NASDAQ:CHRD opened at $162.69 on Tuesday. The company has a market capitalization of $6.78 billion, a price-to-earnings ratio of 7.63 and a beta of 1.05. Chord Energy has a 12 month low of $145.06 and a 12 month high of $190.23. The firm’s 50-day moving average is $178.68 and its 200 day moving average is $168.52. The company has a current ratio of 1.14, a quick ratio of 1.07 and a debt-to-equity ratio of 0.08.

Chord Energy (NASDAQ:CHRD) last announced its earnings results on Tuesday, May 7th. The company reported $5.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.75 by $0.35. The firm had revenue of $1.09 billion for the quarter, compared to analysts’ expectations of $771.87 million. Chord Energy had a net margin of 22.67% and a return on equity of 16.57%. The business’s revenue was up 24.8% compared to the same quarter last year. During the same period in the prior year, the company earned $4.50 EPS.

Chord Energy Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 5th. Investors of record on Wednesday, May 22nd were given a dividend of $2.94 per share. The ex-dividend date of this dividend was Tuesday, May 21st. This represents a $11.76 dividend on an annualized basis and a yield of 7.23%. Chord Energy’s payout ratio is 23.46%.

Institutional Trading of Chord Energy

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Rise Advisors LLC purchased a new stake in Chord Energy in the first quarter valued at approximately $31,000. Contravisory Investment Management Inc. raised its position in Chord Energy by 48.9% during the 4th quarter. Contravisory Investment Management Inc. now owns 259 shares of the company’s stock worth $43,000 after buying an additional 85 shares during the last quarter. SRS Capital Advisors Inc. raised its position in Chord Energy by 306.9% during the 4th quarter. SRS Capital Advisors Inc. now owns 293 shares of the company’s stock worth $49,000 after buying an additional 221 shares during the last quarter. Lindbrook Capital LLC raised its position in Chord Energy by 67.6% during the 4th quarter. Lindbrook Capital LLC now owns 305 shares of the company’s stock worth $51,000 after buying an additional 123 shares during the last quarter. Finally, Viking Fund Management LLC raised its position in Chord Energy by 40.0% during the 4th quarter. Viking Fund Management LLC now owns 350 shares of the company’s stock worth $58,000 after buying an additional 100 shares during the last quarter. Institutional investors and hedge funds own 97.76% 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.