Chord Energy Co. (NASDAQ:CHRD) Increases Dividend to $1.30 Per Share

Chord Energy Co. (NASDAQ:CHRD) declared a quarterly dividend on Saturday, March 8th, Wall Street Journal reports. Investors of record on Tuesday, March 11th will be given a dividend of 1.30 per share on Wednesday, March 26th. This represents a $5.20 annualized dividend and a yield of 5.02%. The ex-dividend date is Tuesday, March 11th. This is a 4.0% increase from Chord Energy’s previous quarterly dividend of $1.25.

Chord Energy has raised its dividend by an average of 34.3% per year over the last three years. Chord Energy has a payout ratio of 37.1% meaning its dividend is sufficiently covered by earnings. Analysts expect Chord Energy to earn $13.13 per share next year, which means the company should continue to be able to cover its $5.20 annual dividend with an expected future payout ratio of 39.6%.

Chord Energy Stock Up 1.2 %

Chord Energy stock opened at $103.63 on Friday. Chord Energy has a fifty-two week low of $99.40 and a fifty-two week high of $190.23. The stock has a market cap of $6.18 billion, a PE ratio of 5.34, a price-to-earnings-growth ratio of 5.83 and a beta of 0.98. The firm’s 50-day simple moving average is $115.54 and its 200 day simple moving average is $125.06. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.89 and a current ratio of 0.93.

Insider Activity

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

Analysts Set New Price Targets

CHRD has been the topic of a number of research analyst reports. Piper Sandler dropped their target price on shares of Chord Energy from $193.00 to $184.00 and set an “overweight” rating on the stock in a research note on Thursday. Truist Financial boosted their target price on shares of Chord Energy from $185.00 to $186.00 and gave the company a “buy” rating in a research note on Monday, January 13th. Royal Bank of Canada dropped their target price on shares of Chord Energy from $185.00 to $180.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 20th. Wolfe Research upgraded shares of Chord Energy from a “peer perform” rating to an “outperform” rating and set a $155.00 target price on the stock in a research note on Friday, January 3rd. Finally, Morgan Stanley initiated coverage on shares of Chord Energy in a research note on Friday, January 10th. They issued an “equal weight” rating and a $158.00 target price on the stock. Three equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Chord Energy has an average rating of “Moderate Buy” and an average target price of $165.42.

Chord Energy Company Profile

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.