Chord Energy FY2024 EPS Decreased by Capital One Financial

Chord Energy Co. (NASDAQ:CHRD) – Equities research analysts at Capital One Financial cut their FY2024 earnings per share estimates for Chord Energy in a research report issued to clients and investors on Tuesday, November 12th. Capital One Financial analyst P. Johnston now expects that the company will post earnings of $16.10 per share for the year, down from their prior forecast 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.

A number of other brokerages have also recently commented on CHRD. Siebert Williams Shank raised Chord Energy to a “strong-buy” rating in a research note on Tuesday, October 15th. Jefferies Financial Group began coverage on Chord Energy in a research note on Thursday, September 5th. They issued a “hold” rating and a $160.00 price target for the company. Royal Bank of Canada reiterated an “outperform” rating and issued a $200.00 price target on shares of Chord Energy in a research report on Friday, September 20th. Bank of America boosted their price objective on shares of Chord Energy from $201.00 to $208.00 and gave the company a “buy” rating in a report on Wednesday, August 21st. Finally, Truist Financial reduced their price target on shares of Chord Energy from $223.00 to $185.00 and set a “buy” rating on the stock in a research report on Monday, September 30th. Two investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Chord Energy has a consensus rating of “Moderate Buy” and a consensus target price of $190.18.

Chord Energy Stock Performance

Shares of Chord Energy stock opened at $130.89 on Friday. The firm has a fifty day moving average of $131.48 and a two-hundred day moving average of $155.01. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.89 and a current ratio of 0.93. The stock has a market capitalization of $8.00 billion, a price-to-earnings ratio of 6.74, a PEG ratio of 5.07 and a beta of 0.98. Chord Energy has a 52 week low of $123.30 and a 52 week high of $190.23.

Chord Energy (NASDAQ:CHRD) last released its quarterly 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). Chord Energy had a net margin of 19.74% and a return on equity of 12.88%. The company had revenue of $1.12 billion for the quarter, compared to the consensus estimate of $1.26 billion. During the same period last year, the company earned $5.04 earnings per share. Chord Energy’s revenue for the quarter was up 33.4% compared to the same quarter last year.

Chord Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Wednesday, November 27th will be given a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a dividend yield of 3.82%. The ex-dividend date is Wednesday, November 27th. Chord Energy’s dividend payout ratio is presently 25.75%.

Insider Buying and Selling

In related news, Director Samantha Holroyd purchased 500 shares of Chord Energy stock in a transaction that occurred on Friday, August 23rd. The stock was purchased at an average cost of $149.51 per share, with a total value of $74,755.00. Following the completion of the transaction, the director now owns 14,417 shares of the company’s stock, valued at approximately $2,155,485.67. This trade represents a 3.59 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.70% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Chord Energy

Hedge funds and other institutional investors have recently made changes to their positions in the company. Envestnet Portfolio Solutions Inc. lifted its stake in Chord Energy by 31.9% in the first quarter. Envestnet Portfolio Solutions Inc. now owns 3,496 shares of the company’s stock valued at $623,000 after acquiring an additional 846 shares during the last quarter. SG Americas Securities LLC grew its holdings in Chord Energy by 50.1% during the first quarter. SG Americas Securities LLC now owns 4,687 shares of the company’s stock worth $835,000 after purchasing an additional 1,565 shares during the period. Russell Investments Group Ltd. increased its position in Chord Energy by 2.8% during the first quarter. Russell Investments Group Ltd. now owns 36,811 shares of the company’s stock worth $6,561,000 after buying an additional 1,002 shares during the last quarter. ProShare Advisors LLC lifted its position in shares of Chord Energy by 4.8% in the first quarter. ProShare Advisors LLC now owns 9,538 shares of the company’s stock valued at $1,700,000 after buying an additional 434 shares during the last quarter. Finally, Edgestream Partners L.P. bought a new position in shares of Chord Energy during the 1st quarter worth approximately $3,537,000. 97.76% of the stock is owned by institutional investors.

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.