FY2024 EPS Estimates for Chord Energy Reduced by Analyst

Chord Energy Co. (NASDAQ:CHRD) – Research analysts at Capital One Financial reduced their FY2024 earnings per share (EPS) estimates for Chord Energy in a report issued on Tuesday, January 21st. Capital One Financial analyst P. Johnston now anticipates that the company will post earnings of $16.02 per share 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 released its quarterly earnings results on Wednesday, November 6th. The company reported $3.40 earnings per share (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 the consensus estimate of $1.26 billion. Chord Energy had a return on equity of 12.88% and a net margin of 19.74%. The business’s revenue was up 33.4% compared to the same quarter last year. During the same quarter last year, the company posted $5.04 EPS.

CHRD has been the subject of several other research reports. Wolfe Research upgraded Chord Energy from a “peer perform” rating to an “outperform” rating and set a $155.00 price target for the company in a research note on Friday, January 3rd. Piper Sandler decreased their price target on Chord Energy from $194.00 to $193.00 and set an “overweight” rating for the company in a research note on Wednesday, January 15th. UBS Group decreased their price target on Chord Energy from $168.00 to $161.00 and set a “buy” rating for the company in a research note on Monday, December 9th. Siebert Williams Shank raised Chord Energy to a “strong-buy” rating in a research report on Tuesday, October 15th. Finally, Mizuho cut their price objective on Chord Energy from $192.00 to $178.00 and set an “outperform” rating for the company in a research report on Monday, December 16th. Three equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $173.08.

Chord Energy Stock Performance

CHRD opened at $120.74 on Thursday. The company has a market cap of $7.38 billion, a PE ratio of 6.22, a price-to-earnings-growth ratio of 6.19 and a beta of 0.99. The stock has a 50-day moving average of $121.93 and a 200-day moving average of $136.66. Chord Energy has a 52-week low of $109.59 and a 52-week high of $190.23. 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 Dividend Announcement

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

Insider Buying and Selling at Chord Energy

In other news, CAO Shannon Browning Kinney sold 1,000 shares of the company’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $116.35, for a total value of $116,350.00. Following the sale, the chief accounting officer now directly owns 19,488 shares in the company, valued at approximately $2,267,428.80. This represents a 4.88 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 0.70% of the company’s stock.

Institutional Investors Weigh In On Chord Energy

Large investors have recently modified their holdings of the stock. Hexagon Capital Partners LLC grew its stake in shares of 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 purchasing an additional 162 shares during the period. Stone House Investment Management LLC acquired a new stake in Chord Energy during the 3rd quarter valued at $26,000. Brooklyn Investment Group acquired a new stake in Chord Energy during the 4th quarter valued at $29,000. UMB Bank n.a. increased its holdings in Chord Energy by 77.7% during the 3rd 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. Finally, Spartan Fund Management Inc. acquired a new stake in Chord Energy during the 3rd quarter valued at $34,000. 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.