FY2024 EPS Estimates for Chord Energy Reduced by Analyst

Chord Energy Co. (NASDAQ:CHRD) – Stock analysts at Capital One Financial decreased their FY2024 earnings per share estimates for shares of Chord Energy in a research note issued to investors on Tuesday, January 21st. Capital One Financial analyst P. Johnston now expects that the company will post earnings per share of $16.02 for the year, down from their prior forecast of $16.15. The consensus estimate for Chord Energy’s current full-year earnings is $15.64 per share. Capital One Financial also issued estimates for Chord Energy’s Q4 2024 earnings at $2.81 EPS, Q1 2025 earnings at $2.95 EPS, Q2 2025 earnings at $3.50 EPS, Q3 2025 earnings at $3.65 EPS, Q4 2025 earnings at $3.57 EPS, FY2025 earnings at $13.67 EPS and FY2026 earnings at $14.87 EPS.

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

Several other equities research analysts also recently issued reports on the company. Bank of America restated a “neutral” rating and set a $138.00 price objective (down from $208.00) on shares of Chord Energy in a report on Monday, January 13th. BMO Capital Markets dropped their price objective on Chord Energy from $205.00 to $175.00 and set an “outperform” rating on the stock in a report on Friday, October 4th. Morgan Stanley began coverage on Chord Energy in a research report on Friday, January 10th. They issued an “equal weight” rating and a $158.00 target price for the company. Siebert Williams Shank upgraded Chord Energy to a “strong-buy” rating in a research report on Tuesday, October 15th. Finally, Piper Sandler decreased their target price on Chord Energy from $194.00 to $193.00 and set an “overweight” rating for the company in a research report on Wednesday, January 15th. Three 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 data from MarketBeat.com, Chord Energy has a consensus rating of “Moderate Buy” and a consensus target price of $173.08.

Chord Energy Stock Performance

Shares of NASDAQ:CHRD opened at $120.74 on Thursday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.89 and a current ratio of 0.93. Chord Energy has a one year low of $109.59 and a one year high of $190.23. The business’s 50-day simple moving average is $121.93 and its 200 day simple moving average is $136.66. The company has a market cap of $7.38 billion, a P/E ratio of 6.22, a PEG ratio of 6.19 and a beta of 0.99.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. R Squared Ltd purchased a new position in shares of Chord Energy during the fourth quarter valued at $51,000. Perigon Wealth Management LLC grew its holdings in shares of Chord Energy by 0.7% during the fourth quarter. Perigon Wealth Management LLC now owns 22,717 shares of the company’s stock valued at $2,868,000 after buying an additional 157 shares in the last quarter. Pacer Advisors Inc. grew its holdings in shares of Chord Energy by 50.4% during the fourth quarter. Pacer Advisors Inc. now owns 1,872,156 shares of the company’s stock valued at $218,892,000 after buying an additional 627,122 shares in the last quarter. KBC Group NV grew its holdings in shares of Chord Energy by 23.5% during the fourth quarter. KBC Group NV now owns 55,973 shares of the company’s stock valued at $6,544,000 after buying an additional 10,655 shares in the last quarter. Finally, Union Bancaire Privee UBP SA purchased a new position in shares of Chord Energy during the fourth quarter valued at $77,000. Hedge funds and other institutional investors own 97.76% of the company’s stock.

Insider Transactions at Chord Energy

In other news, CAO Shannon Browning Kinney sold 1,000 shares of the business’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $116.35, for a total transaction of $116,350.00. Following the sale, the chief accounting officer now directly owns 19,488 shares of the company’s stock, valued at $2,267,428.80. The trade was a 4.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.70% of the company’s stock.

Chord Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Wednesday, November 27th were paid a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a dividend yield of 4.14%. The ex-dividend date was Wednesday, November 27th. Chord Energy’s dividend payout ratio is presently 25.75%.

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.