Chord Energy Co. Announces Quarterly Dividend of $1.25 (NASDAQ:CHRD)

Chord Energy Co. (NASDAQ:CHRD) declared a quarterly dividend on Monday, November 25th,Zacks Dividends reports. Shareholders of record on Wednesday, November 27th will be paid a dividend of 1.25 per share on Thursday, December 12th. This represents a $5.00 annualized dividend and a yield of 3.83%. The ex-dividend date of this dividend is Wednesday, November 27th.

Chord Energy has a dividend payout ratio of 5.5% meaning its dividend is sufficiently covered by earnings. Analysts expect Chord Energy to earn $15.72 per share next year, which means the company should continue to be able to cover its $0.76 annual dividend with an expected future payout ratio of 4.8%.

Chord Energy Price Performance

CHRD stock opened at $130.44 on Tuesday. Chord Energy has a 1 year low of $123.30 and a 1 year high of $190.23. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.93 and a quick ratio of 0.89. The stock has a market cap of $7.97 billion, a price-to-earnings ratio of 6.72, a P/E/G ratio of 5.39 and a beta of 0.98. The company has a 50 day simple moving average of $131.00 and a 200 day simple moving average of $152.50.

Chord Energy (NASDAQ:CHRD) last issued its earnings results on Wednesday, November 6th. The company reported $3.40 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.63 by ($0.23). Chord Energy had a return on equity of 12.88% and a net margin of 19.74%. The firm had revenue of $1.12 billion during the quarter, compared to analyst estimates of $1.26 billion. During the same period in the previous year, the company earned $5.04 EPS. Chord Energy’s revenue for the quarter was up 33.4% on a year-over-year basis. Research analysts anticipate that Chord Energy will post 16.5 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. Citigroup cut their target price on shares of Chord Energy from $195.00 to $180.00 and set a “buy” rating on the stock in a research report on Monday, August 12th. Siebert Williams Shank raised shares of Chord Energy to a “strong-buy” rating in a research note on Tuesday, October 15th. UBS Group began coverage on Chord Energy in a report on Wednesday, October 16th. They issued a “buy” rating and a $168.00 price objective for the company. Bank of America raised their price objective on Chord Energy from $201.00 to $208.00 and gave the stock a “buy” rating in a research report on Wednesday, August 21st. Finally, Wells Fargo & Company cut their price objective on Chord Energy from $185.00 to $180.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 16th. Two investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $188.45.

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.