Q3 2024 EPS Estimates for Chord Energy Co. (NASDAQ:CHRD) Lowered by Analyst

Chord Energy Co. (NASDAQ:CHRD) – Investment analysts at Capital One Financial dropped their Q3 2024 earnings per share estimates for Chord Energy in a research note issued to investors on Tuesday, September 17th. Capital One Financial analyst P. Johnston now anticipates that the company will earn $4.39 per share for the quarter, down from their previous forecast 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.

Other equities research analysts have also recently issued reports about the company. Piper Sandler dropped their target price on Chord Energy from $234.00 to $206.00 and set an “overweight” rating for the company in a report on Thursday, August 15th. BMO Capital Markets started coverage on Chord Energy in a research report on Monday, June 3rd. They issued an “outperform” rating and a $230.00 price objective for the company. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $200.00 target price on shares of Chord Energy in a research note on Friday. Citigroup dropped their price target on shares of Chord Energy from $195.00 to $180.00 and set a “buy” rating for the company in a research report on Monday, August 12th. Finally, Wolfe Research initiated coverage on shares of Chord Energy in a research report on Thursday, July 18th. They issued a “peer perform” rating on the stock. Two analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $202.10.

Chord Energy Stock Performance

NASDAQ CHRD opened at $136.73 on Friday. The company has a 50-day simple moving average of $152.80 and a two-hundred day simple moving average of $167.18. Chord Energy has a 12-month low of $129.75 and a 12-month high of $190.23. The firm has a market cap of $5.70 billion, a price-to-earnings ratio of 6.42, a PEG ratio of 4.48 and a beta of 0.99. The company has a quick ratio of 0.91, a current ratio of 0.96 and a debt-to-equity ratio of 0.11.

Chord Energy (NASDAQ:CHRD) last announced its quarterly earnings data on Wednesday, August 7th. The company reported $4.69 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $5.00 by ($0.31). The business had revenue of $902.70 million during the quarter, compared to analysts’ expectations of $982.43 million. Chord Energy had a net margin of 20.83% and a return on equity of 15.06%. Chord Energy’s revenue for the quarter was up 29.8% on a year-over-year basis. During the same period last year, the company posted $3.65 EPS.

Institutional Trading of Chord Energy

Hedge funds and other institutional investors have recently modified their holdings of the business. Avantax Advisory Services Inc. boosted its stake in Chord Energy by 35.8% during the fourth quarter. Avantax Advisory Services Inc. now owns 2,904 shares of the company’s stock worth $483,000 after acquiring an additional 766 shares in the last quarter. Janney Montgomery Scott LLC grew its stake in shares of Chord Energy by 2.8% in the 4th quarter. Janney Montgomery Scott LLC now owns 6,531 shares of the company’s stock worth $1,086,000 after buying an additional 175 shares during the last quarter. Quadrant Capital Group LLC increased its position in Chord Energy by 94.3% during the 4th quarter. Quadrant Capital Group LLC now owns 406 shares of the company’s stock valued at $67,000 after buying an additional 197 shares in the last quarter. Assetmark Inc. raised its stake in Chord Energy by 23.4% during the fourth quarter. Assetmark Inc. now owns 1,206 shares of the company’s stock valued at $200,000 after buying an additional 229 shares during the last quarter. Finally, Neuberger Berman Group LLC boosted its holdings in Chord Energy by 13.9% in the fourth quarter. Neuberger Berman Group LLC now owns 6,012 shares of the company’s stock worth $999,000 after acquiring an additional 732 shares in the last quarter. 97.76% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Chord Energy

In other news, Director Samantha Holroyd bought 500 shares of the firm’s stock in a transaction dated Friday, August 23rd. The stock was purchased at an average price of $149.51 per share, with a total value of $74,755.00. Following the transaction, the director now owns 14,417 shares of the company’s stock, valued at $2,155,485.67. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 0.70% of the company’s stock.

Chord Energy Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 5th. Shareholders of record on Wednesday, August 21st were issued a $1.25 dividend. The ex-dividend date was Wednesday, August 21st. This represents a $5.00 annualized dividend and a yield of 3.66%. Chord Energy’s dividend payout ratio (DPR) is presently 23.46%.

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.