Chord Energy Co. (CHRD) to Issue Quarterly Dividend of $2.94 on June 5th

Chord Energy Co. (NASDAQ:CHRDGet Free Report) declared a quarterly dividend on Tuesday, May 7th, Zacks reports. Stockholders of record on Wednesday, May 22nd will be paid a dividend of 2.94 per share on Wednesday, June 5th. This represents a $11.76 dividend on an annualized basis and a dividend yield of 6.51%. The ex-dividend date of this dividend is Tuesday, May 21st.

Chord Energy has a dividend payout ratio of 23.7% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Chord Energy to earn $22.77 per share next year, which means the company should continue to be able to cover its $5.00 annual dividend with an expected future payout ratio of 22.0%.

Chord Energy Trading Up 0.9 %

Shares of CHRD stock opened at $180.59 on Friday. Chord Energy has a 1-year low of $140.02 and a 1-year high of $190.23. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.14 and a quick ratio of 1.07. The business’s fifty day moving average price is $177.99 and its 200 day moving average price is $166.74. The firm has a market capitalization of $7.53 billion, a PE ratio of 8.47 and a beta of 1.07.

Chord Energy (NASDAQ:CHRDGet Free Report) last posted its quarterly earnings results on Tuesday, May 7th. The company reported $5.10 earnings per share for the quarter, topping analysts’ consensus estimates of $4.75 by $0.35. Chord Energy had a net margin of 22.67% and a return on equity of 16.57%. The business had revenue of $1.09 billion for the quarter, compared to analysts’ expectations of $771.87 million. During the same period in the prior year, the company posted $4.50 EPS. The business’s revenue for the quarter was up 24.8% on a year-over-year basis. As a group, sell-side analysts forecast that Chord Energy will post 22.53 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have issued reports on CHRD. Stifel Nicolaus increased their target price on shares of Chord Energy from $178.00 to $211.00 and gave the company a “buy” rating in a report on Tuesday, February 27th. Piper Sandler lifted their price objective on Chord Energy from $230.00 to $231.00 and gave the stock an “overweight” rating in a report on Tuesday, May 14th. Mizuho upped their target price on Chord Energy from $195.00 to $214.00 and gave the company a “buy” rating in a report on Monday, May 13th. Truist Financial cut their price target on Chord Energy from $229.00 to $224.00 and set a “buy” rating for the company in a research note on Friday, April 5th. Finally, Royal Bank of Canada increased their price objective on shares of Chord Energy from $180.00 to $200.00 and gave the company an “outperform” rating in a research note on Monday, April 29th. One research analyst has rated the stock with a sell rating, one has given a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $195.50.

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Chord Energy Company Profile

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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.

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Dividend History for Chord Energy (NASDAQ:CHRD)

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