Chord Energy Co. to Post Q3 2024 Earnings of $4.39 Per Share, Capital One Financial Forecasts (NASDAQ:CHRD)

Chord Energy Co. (NASDAQ:CHRD) – Stock analysts at Capital One Financial reduced their Q3 2024 earnings per share estimates for shares of Chord Energy in a report issued on Tuesday, September 17th. Capital One Financial analyst P. Johnston now anticipates that the company will post earnings per share of $4.39 for the quarter, down from their prior estimate of $5.26. The consensus estimate for Chord Energy’s current full-year earnings is $19.67 per share. Capital One Financial also issued estimates for Chord Energy’s Q4 2024 earnings at $3.85 EPS, FY2024 earnings at $18.05 EPS, Q1 2025 earnings at $3.29 EPS, Q2 2025 earnings at $3.72 EPS, Q3 2025 earnings at $4.11 EPS, Q4 2025 earnings at $4.40 EPS, FY2025 earnings at $15.52 EPS and FY2026 earnings at $18.66 EPS.

Chord Energy (NASDAQ:CHRD) last released its earnings results on Wednesday, August 7th. The company reported $4.69 earnings per share for the quarter, missing the consensus estimate of $5.00 by ($0.31). The business had revenue of $902.70 million for the quarter, compared to the consensus estimate of $982.43 million. Chord Energy had a return on equity of 15.06% and a net margin of 20.83%. The firm’s revenue for the quarter was up 29.8% compared to the same quarter last year. During the same quarter last year, the business posted $3.65 earnings per share.

A number of other brokerages have also commented on CHRD. Citigroup reduced their target price 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. Bank of America lifted their target price on Chord Energy from $201.00 to $208.00 and gave the company a “buy” rating in a research report on Wednesday, August 21st. Wolfe Research began coverage on Chord Energy in a research report on Thursday, July 18th. They set a “peer perform” rating on the stock. Truist Financial decreased their price objective on Chord Energy from $226.00 to $223.00 and set a “buy” rating for the company in a report on Monday, July 22nd. Finally, Piper Sandler dropped their target price on shares of Chord Energy from $234.00 to $206.00 and set an “overweight” rating on the stock in a report on Thursday, August 15th. Two investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $202.10.

Chord Energy Trading Up 0.3 %

Shares of CHRD opened at $136.34 on Friday. The firm has a market capitalization of $5.68 billion, a price-to-earnings ratio of 6.40, a PEG ratio of 4.48 and a beta of 0.99. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.96 and a quick ratio of 0.91. Chord Energy has a 1-year low of $129.75 and a 1-year high of $190.23. The company has a 50-day moving average of $153.51 and a 200 day moving average of $167.31.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Sanctuary Advisors LLC purchased a new stake in shares of Chord Energy during the second quarter worth about $788,000. Aristides Capital LLC purchased a new stake in Chord Energy during the 2nd quarter worth approximately $222,000. Cetera Investment Advisers increased its stake in Chord Energy by 165.0% during the 2nd quarter. Cetera Investment Advisers now owns 25,124 shares of the company’s stock valued at $4,213,000 after purchasing an additional 15,645 shares in the last quarter. KGH Ltd increased its stake in Chord Energy by 872.0% during the 2nd quarter. KGH Ltd now owns 485,998 shares of the company’s stock valued at $81,492,000 after purchasing an additional 435,998 shares in the last quarter. Finally, Creative Planning raised its holdings in shares of Chord Energy by 85.2% in the second quarter. Creative Planning now owns 14,748 shares of the company’s stock worth $2,473,000 after buying an additional 6,786 shares during the last quarter. 97.76% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Chord Energy

In other news, Director Samantha Holroyd bought 500 shares of the firm’s stock in a transaction that occurred on Friday, August 23rd. The stock was bought at an average price of $149.51 per share, with a total value of $74,755.00. Following the completion of the transaction, the director now directly owns 14,417 shares of the company’s stock, valued at approximately $2,155,485.67. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.70% of the company’s stock.

Chord Energy Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 5th. Stockholders of record on Wednesday, August 21st were issued a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a dividend yield of 3.67%. The ex-dividend date was Wednesday, August 21st. Chord Energy’s dividend payout ratio is currently 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.