Q2 2024 EPS Estimates for Chord Energy Co. Lifted by Capital One Financial (NASDAQ:CHRD)

Chord Energy Co. (NASDAQ:CHRD) – Stock analysts at Capital One Financial increased their Q2 2024 EPS estimates for Chord Energy in a note issued to investors on Monday, June 17th. Capital One Financial analyst P. Johnston now forecasts that the company will post earnings per share of $5.29 for the quarter, up from their previous estimate of $5.20. The consensus estimate for Chord Energy’s current full-year earnings is $22.39 per share.

Chord Energy (NASDAQ:CHRD) last posted its earnings results on Tuesday, May 7th. The company reported $5.10 EPS for the quarter, beating analysts’ consensus estimates of $4.75 by $0.35. The firm had revenue of $1.09 billion for the quarter, compared to analysts’ expectations of $771.87 million. Chord Energy had a return on equity of 16.57% and a net margin of 22.67%. The company’s quarterly revenue was up 24.8% on a year-over-year basis. During the same period last year, the firm earned $4.50 EPS.

Other equities research analysts have also recently issued research reports about the stock. Bank of America reissued a “buy” rating and issued a $201.00 price target on shares of Chord Energy in a research note on Friday, June 14th. Piper Sandler lifted their target price on shares of Chord Energy from $231.00 to $233.00 and gave the company an “overweight” rating in a research report on Friday, May 24th. Royal Bank of Canada upped their price target on shares of Chord Energy from $180.00 to $200.00 and gave the stock an “outperform” rating in a research report on Monday, April 29th. Mizuho raised their price target on shares of Chord Energy from $195.00 to $214.00 and gave the company a “buy” rating in a research note on Monday, May 13th. Finally, Truist Financial cut their price objective on Chord Energy from $228.00 to $226.00 and set a “buy” rating for the company in a research note on Monday, June 3rd. One equities research analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, Chord Energy has a consensus rating of “Moderate Buy” and an average target price of $204.00.

Chord Energy Stock Up 0.1 %

Chord Energy stock opened at $166.84 on Wednesday. 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 stock has a market capitalization of $6.96 billion, a PE ratio of 7.83, a price-to-earnings-growth ratio of 0.81 and a beta of 1.05. The business has a 50 day simple moving average of $177.51 and a 200-day simple moving average of $168.53. Chord Energy has a 12 month low of $145.06 and a 12 month high of $190.23.

Institutional Trading of Chord Energy

Hedge funds and other institutional investors have recently made changes to their positions in the company. HighTower Advisors LLC raised its position in Chord Energy by 19.0% in the third quarter. HighTower Advisors LLC now owns 2,458 shares of the company’s stock valued at $397,000 after purchasing an additional 392 shares during the period. Deutsche Bank AG increased its position in shares of Chord Energy by 11.1% during the third quarter. Deutsche Bank AG now owns 28,611 shares of the company’s stock valued at $4,637,000 after acquiring an additional 2,868 shares during the last quarter. Rhumbline Advisers boosted its position in shares of Chord Energy by 2.1% during the 3rd quarter. Rhumbline Advisers now owns 142,622 shares of the company’s stock worth $23,115,000 after purchasing an additional 2,925 shares during the period. Envestnet Portfolio Solutions Inc. acquired a new stake in Chord Energy in the 3rd quarter valued at approximately $434,000. Finally, Envestnet Asset Management Inc. lifted its stake in Chord Energy by 41.3% during the third quarter. Envestnet Asset Management Inc. now owns 105,611 shares of the company’s stock worth $17,116,000 after purchasing an additional 30,877 shares in the last quarter. Institutional investors and hedge funds own 97.76% of the company’s stock.

Chord Energy Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 5th. Investors of record on Wednesday, May 22nd were issued a $2.94 dividend. This represents a $11.76 dividend on an annualized basis and a dividend yield of 7.05%. The ex-dividend date of this dividend was Tuesday, May 21st. Chord Energy’s dividend 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.