Brokers Set Expectations for Chord Energy FY2024 Earnings

Chord Energy Co. (NASDAQ:CHRD) – Equities research analysts at Capital One Financial decreased their FY2024 earnings per share estimates for shares of Chord Energy in a research report issued to clients and investors on Tuesday, November 12th. Capital One Financial analyst P. Johnston now forecasts that the company will earn $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.

Chord Energy (NASDAQ:CHRD) last announced its earnings results on Wednesday, November 6th. The company reported $3.40 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.63 by ($0.23). Chord Energy had a net margin of 19.74% and a return on equity of 12.88%. The firm had revenue of $1.12 billion during the quarter, compared to analyst estimates of $1.26 billion. The firm’s quarterly revenue was up 33.4% compared to the same quarter last year. During the same period in the prior year, the business posted $5.04 EPS.

Several other brokerages have also recently commented on CHRD. Piper Sandler boosted their price target on shares of Chord Energy from $206.00 to $211.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 15th. BMO Capital Markets dropped their target price on Chord Energy from $205.00 to $175.00 and set an “outperform” rating on the stock in a report on Friday, October 4th. Bank of America raised their price target on Chord Energy from $201.00 to $208.00 and gave the company a “buy” rating in a research note on Wednesday, August 21st. Siebert Williams Shank upgraded Chord Energy to a “strong-buy” rating in a research note on Tuesday, October 15th. Finally, UBS Group assumed coverage on shares of Chord Energy in a research note on Wednesday, October 16th. They issued a “buy” rating and a $168.00 target price for the company. Two 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. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $190.18.

Chord Energy Stock Performance

Shares of CHRD stock opened at $127.28 on Friday. Chord Energy has a 12 month low of $123.30 and a 12 month high of $190.23. The company’s fifty day simple moving average is $131.20 and its 200-day simple moving average is $154.45. The firm has a market cap of $7.78 billion, a PE ratio of 6.55, a P/E/G ratio of 5.07 and a beta of 0.98. The company has a quick ratio of 0.89, a current ratio of 0.93 and a debt-to-equity ratio of 0.10.

Chord Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Wednesday, November 27th will be issued a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a yield of 3.93%. The ex-dividend date of this dividend is Wednesday, November 27th. Chord Energy’s dividend payout ratio is 25.75%.

Insiders Place Their Bets

In other Chord Energy news, Director Samantha Holroyd bought 500 shares of the firm’s stock in a transaction on Friday, August 23rd. The shares were purchased at an average price of $149.51 per share, for a total transaction of $74,755.00. Following the transaction, the director now directly owns 14,417 shares in the company, valued at approximately $2,155,485.67. This trade represents a 3.59 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.70% of the company’s stock.

Institutional Investors Weigh In On Chord Energy

Several institutional investors have recently made changes to their positions in the stock. Hexagon Capital Partners LLC raised its holdings in Chord Energy by 462.9% in the 3rd quarter. Hexagon Capital Partners LLC now owns 197 shares of the company’s stock valued at $26,000 after acquiring an additional 162 shares in the last quarter. Stone House Investment Management LLC acquired a new position in Chord Energy in the third quarter valued at about $26,000. UMB Bank n.a. raised its stake in Chord Energy by 77.7% in the third quarter. UMB Bank n.a. now owns 231 shares of the company’s stock valued at $30,000 after purchasing an additional 101 shares in the last quarter. Spartan Fund Management Inc. bought a new stake in Chord Energy during the third quarter worth about $34,000. Finally, Ashton Thomas Private Wealth LLC acquired a new stake in Chord Energy during the second quarter worth about $40,000. 97.76% of the stock is currently owned by institutional investors.

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.