Chord Energy (NASDAQ:CHRD) Releases Earnings Results, Misses Estimates By $0.23 EPS

Chord Energy (NASDAQ:CHRD) released its quarterly earnings results on Wednesday. The company reported $3.40 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.63 by ($0.23), Briefing.com reports. The firm had revenue of $1.12 billion for the quarter, compared to analysts’ expectations of $1.26 billion. Chord Energy had a return on equity of 15.06% and a net margin of 20.83%. The company’s quarterly revenue was up 33.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $5.04 EPS.

Chord Energy Trading Up 0.5 %

CHRD traded up $0.72 during trading on Thursday, reaching $132.68. 1,005,294 shares of the stock traded hands, compared to its average volume of 881,274. The stock has a market capitalization of $8.21 billion, a PE ratio of 6.41, a P/E/G ratio of 4.86 and a beta of 0.98. Chord Energy has a 12 month low of $123.30 and a 12 month high of $190.23. The stock’s 50-day moving average is $132.91 and its 200 day moving average is $156.86. The company has a quick ratio of 0.91, a current ratio of 0.96 and a debt-to-equity ratio of 0.11.

Analyst Ratings Changes

CHRD has been the topic of a number of research analyst reports. UBS Group assumed coverage on shares of Chord Energy in a report on Wednesday, October 16th. They issued a “buy” rating and a $168.00 price target on the stock. Royal Bank of Canada reiterated an “outperform” rating and issued a $200.00 price objective on shares of Chord Energy in a report on Friday, September 20th. Bank of America lifted their target price on shares of Chord Energy from $201.00 to $208.00 and gave the company a “buy” rating in a research note on Wednesday, August 21st. BMO Capital Markets dropped their price target on shares of Chord Energy from $205.00 to $175.00 and set an “outperform” rating on the stock in a research report on Friday, October 4th. Finally, Citigroup reduced their price objective on shares of Chord Energy from $195.00 to $180.00 and set a “buy” rating for the company in a report on Monday, August 12th. Two equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Chord Energy has a consensus rating of “Moderate Buy” and a consensus price target of $190.18.

Insider Buying and Selling at Chord Energy

In other Chord Energy news, Director Samantha Holroyd bought 500 shares of Chord Energy stock in a transaction dated Friday, August 23rd. The stock was purchased at an average price of $149.51 per share, for a total transaction of $74,755.00. Following the completion of the purchase, the director now directly owns 14,417 shares of the company’s stock, valued at approximately $2,155,485.67. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.70% of the company’s stock.

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.