Chord Energy Co. Forecasted to Earn Q3 2023 Earnings of $5.12 Per Share (NASDAQ:CHRD)

Posted by on May 25th, 2023

Chord Energy Co. (NASDAQ:CHRD – Get Rating) – Equities research analysts at Capital One Financial increased their Q3 2023 EPS estimates for shares of Chord Energy in a report issued on Monday, May 22nd. Capital One Financial analyst P. Johnston now forecasts that the company will post earnings of $5.12 per share for the quarter, up from their prior forecast of $4.91. The consensus estimate for Chord Energy’s current full-year earnings is $21.39 per share. Capital One Financial also issued estimates for Chord Energy’s Q4 2023 earnings at $5.38 EPS, FY2023 earnings at $19.70 EPS, Q1 2024 earnings at $5.61 EPS, Q2 2024 earnings at $5.80 EPS, Q3 2024 earnings at $6.01 EPS, Q4 2024 earnings at $6.06 EPS and FY2024 earnings at $23.47 EPS.

Chord Energy (NASDAQ:CHRD – Get Rating) last announced its quarterly earnings data on Wednesday, February 22nd. The company reported $5.28 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $5.89 by ($0.61). Chord Energy had a net margin of 43.37% and a return on equity of 23.51%. The business had revenue of $1.02 billion during the quarter, compared to analysts’ expectations of $875.33 million.

A number of other equities research analysts have also recently issued reports on CHRD. Mizuho cut their price objective on shares of Chord Energy from $179.00 to $172.00 in a research note on Friday, May 19th. Piper Sandler dropped their price target on shares of Chord Energy from $213.00 to $204.00 in a research report on Thursday, May 18th. Truist Financial dropped their price target on shares of Chord Energy from $252.00 to $246.00 in a research report on Monday, May 8th. Citigroup dropped their price target on shares of Chord Energy from $170.00 to $165.00 in a research report on Sunday. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $190.00 price target on shares of Chord Energy in a research report on Thursday, March 30th. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $187.38.

Chord Energy Price Performance

Shares of Chord Energy stock opened at $151.36 on Thursday. Chord Energy has a 52-week low of $93.35 and a 52-week high of $181.34. The stock has a market capitalization of $6.29 billion, a price-to-earnings ratio of 3.59, a price-to-earnings-growth ratio of 0.36 and a beta of 1.36. The company has a fifty day moving average of $138.61 and a 200-day moving average of $139.78. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.13 and a current ratio of 1.18.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of CHRD. Armstrong Advisory Group Inc. bought a new position in shares of Chord Energy in the 4th quarter worth about $25,000. Crewe Advisors LLC purchased a new stake in Chord Energy during the 4th quarter valued at about $25,000. FinTrust Capital Advisors LLC purchased a new stake in Chord Energy during the 4th quarter valued at about $28,000. Fifth Third Bancorp purchased a new stake in Chord Energy during the 4th quarter valued at about $29,000. Finally, Assetmark Inc. purchased a new stake in Chord Energy during the 1st quarter valued at about $30,000. 93.47% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Chord Energy news, Director Lynn A. Peterson sold 3,000 shares of the company’s stock in a transaction on Monday, April 17th. The shares were sold at an average price of $144.94, for a total value of $434,820.00. Following the completion of the transaction, the director now directly owns 238,098 shares in the company, valued at approximately $34,509,924.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last ninety days, insiders sold 9,000 shares of company stock worth $1,282,590. 0.52% of the stock is currently owned by corporate insiders.

Chord Energy Cuts Dividend

The business also recently disclosed a None dividend, which will be paid on Tuesday, May 30th. Shareholders of record on Tuesday, May 16th will be issued a $3.22 dividend. The ex-dividend date of this dividend is Monday, May 15th. This represents a yield of 3.5%. Chord Energy’s dividend payout ratio (DPR) is presently 11.85%.

About Chord Energy

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Chord Energy Corporation operates as an independent exploration and production company. It acquires, exploits, develops, and explores for crude oil, natural gas, and natural gas liquids in the Williston Basin. The company was founded in 2007 and is headquartered in Houston, Texas.

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Earnings History and Estimates for Chord Energy (NASDAQ:CHRD)

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