Capital One Financial Equities Analysts Boost Earnings Estimates for Chord Energy Co. (NASDAQ:CHRD)

Chord Energy Co. (NASDAQ:CHRD) – Equities research analysts at Capital One Financial lifted their Q2 2024 earnings per share estimates for shares of Chord Energy in a research report issued on Monday, June 17th. Capital One Financial analyst P. Johnston now anticipates that the company will post earnings per share of $5.29 for the quarter, up from their prior forecast of $5.20. The consensus estimate for Chord Energy’s current full-year earnings is $22.39 per share.

Several other equities analysts also recently issued reports on CHRD. Royal Bank of Canada lifted their price objective on Chord Energy from $180.00 to $200.00 and gave the company an “outperform” rating in a research report on Monday, April 29th. Mizuho upped their price objective on Chord Energy from $195.00 to $214.00 and gave the company a “buy” rating in a report on Monday, May 13th. Truist Financial dropped their price objective on Chord Energy from $228.00 to $226.00 and set a “buy” rating for the company in a report on Monday, June 3rd. Stifel Nicolaus upped their price objective on Chord Energy from $178.00 to $211.00 and gave the company a “buy” rating in a report on Tuesday, February 27th. Finally, Piper Sandler boosted their target price on Chord Energy from $231.00 to $233.00 and gave the company an “overweight” rating in a research note on Friday, May 24th. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $204.00.

Chord Energy Price Performance

Shares of CHRD stock opened at $166.75 on Wednesday. The stock’s fifty day simple moving average is $177.92 and its 200 day simple moving average is $168.54. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.14 and a quick ratio of 1.07. Chord Energy has a one year low of $145.06 and a one year high of $190.23. The firm has a market cap of $6.95 billion, a price-to-earnings ratio of 7.82, a P/E/G ratio of 0.79 and a beta of 1.05.

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

Hedge Funds Weigh In On Chord Energy

A number of large investors have recently made changes to their positions in the company. HighTower Advisors LLC grew its position in Chord Energy by 19.0% during the third quarter. HighTower Advisors LLC now owns 2,458 shares of the company’s stock worth $397,000 after buying an additional 392 shares in the last quarter. Deutsche Bank AG boosted its holdings in shares of Chord Energy by 11.1% in the 3rd quarter. Deutsche Bank AG now owns 28,611 shares of the company’s stock valued at $4,637,000 after purchasing an additional 2,868 shares in the last quarter. Rhumbline Advisers boosted its holdings in shares of Chord Energy by 2.1% during the 3rd quarter. Rhumbline Advisers now owns 142,622 shares of the company’s stock valued at $23,115,000 after acquiring an additional 2,925 shares in the last quarter. Envestnet Portfolio Solutions Inc. acquired a new stake in shares of Chord Energy during the 3rd quarter valued at $434,000. Finally, Envestnet Asset Management Inc. boosted its holdings in shares of Chord Energy by 41.3% during the 3rd quarter. Envestnet Asset Management Inc. now owns 105,611 shares of the company’s stock valued at $17,116,000 after acquiring an additional 30,877 shares in the last quarter. Institutional investors own 97.76% of the company’s stock.

Chord Energy Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 5th. Shareholders of record on Wednesday, May 22nd were paid a $2.94 dividend. The ex-dividend date of this dividend was Tuesday, May 21st. This represents a $11.76 annualized dividend and a yield of 7.05%. Chord Energy’s dividend payout ratio is 23.46%.

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.