Q3 2024 Earnings Forecast for Chord Energy Co. (NASDAQ:CHRD) Issued By Capital One Financial

Chord Energy Co. (NASDAQ:CHRD) – Investment analysts at Capital One Financial decreased their Q3 2024 earnings per share (EPS) estimates for Chord Energy in a report issued 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 prior 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.

A number of other research analysts also recently issued reports on the company. Citigroup decreased their price target on Chord Energy from $195.00 to $180.00 and set a “buy” rating for the company in a report on Monday, August 12th. Jefferies Financial Group initiated coverage on shares of Chord Energy in a report on Thursday, September 5th. They set a “hold” rating and a $160.00 price target on the stock. BMO Capital Markets began coverage on shares of Chord Energy in a report on Monday, June 3rd. They issued an “outperform” rating and a $230.00 price objective for the company. Piper Sandler lowered their target price on shares of Chord Energy from $234.00 to $206.00 and set an “overweight” rating on the stock in a research note on Thursday, August 15th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $200.00 price target on shares of Chord Energy in a research note on Thursday, September 5th. Two analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $202.10.

Chord Energy Stock Up 0.3 %

Shares of CHRD opened at $136.34 on Friday. The company 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. Chord Energy has a 52 week low of $129.75 and a 52 week high of $190.23. The stock’s 50-day moving average price is $153.51 and its 200-day moving average price is $167.31. 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 posted its quarterly earnings results on Wednesday, August 7th. The company reported $4.69 EPS for the quarter, missing the consensus estimate 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% compared to the same quarter last year. During the same period in the previous year, the company posted $3.65 earnings per share.

Institutional Trading of Chord Energy

Large investors have recently bought and sold shares of the business. Rise Advisors LLC acquired a new position in shares of Chord Energy during the 1st quarter worth approximately $31,000. Ashton Thomas Private Wealth LLC purchased a new stake in Chord Energy in the 2nd quarter valued at $40,000. Benjamin F. Edwards & Company Inc. grew its holdings in Chord Energy by 125.9% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 244 shares of the company’s stock valued at $41,000 after buying an additional 136 shares in the last quarter. GAMMA Investing LLC increased its stake in shares of Chord Energy by 151.6% in the 2nd quarter. GAMMA Investing LLC now owns 317 shares of the company’s stock worth $53,000 after acquiring an additional 191 shares during the last quarter. Finally, Atlas Capital Advisors LLC purchased a new position in shares of Chord Energy during the 2nd quarter worth $60,000. Hedge funds and other institutional investors own 97.76% of the company’s stock.

Insider Activity

In other news, Director Samantha Holroyd purchased 500 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The stock was purchased at an average cost of $149.51 per share, for a total transaction of $74,755.00. Following the completion of the transaction, the director now owns 14,417 shares of the company’s stock, valued at $2,155,485.67. The purchase 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.

Chord Energy Cuts Dividend

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