Chord Energy FY2024 EPS Decreased by Capital One Financial

Chord Energy Co. (NASDAQ:CHRD) – Equities researchers at Capital One Financial cut their FY2024 earnings per share (EPS) estimates for Chord Energy in a research note issued to investors on Tuesday, January 21st. Capital One Financial analyst P. Johnston now forecasts that the company will earn $16.02 per share for the year, down from their previous forecast of $16.15. The consensus estimate for Chord Energy’s current full-year earnings is $15.59 per share. Capital One Financial also issued estimates for Chord Energy’s Q4 2024 earnings at $2.81 EPS, Q1 2025 earnings at $2.95 EPS, Q2 2025 earnings at $3.50 EPS, Q3 2025 earnings at $3.65 EPS, Q4 2025 earnings at $3.57 EPS, FY2025 earnings at $13.67 EPS and FY2026 earnings at $14.87 EPS.

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

A number of other equities research analysts also recently weighed in on CHRD. UBS Group lowered their target price on Chord Energy from $168.00 to $161.00 and set a “buy” rating for the company in a report on Monday, December 9th. 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 report on Monday, January 13th. Bank of America restated a “neutral” rating and issued a $138.00 price target (down from $208.00) on shares of Chord Energy in a report on Monday, January 13th. Morgan Stanley started coverage on shares of Chord Energy in a research report on Friday, January 10th. They set an “equal weight” rating and a $158.00 price objective on the stock. Finally, Royal Bank of Canada decreased their target price on Chord Energy from $185.00 to $180.00 and set an “outperform” rating for the company in a research report on Wednesday, November 20th. Three research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $173.08.

Chord Energy Stock Down 2.7 %

Shares of NASDAQ:CHRD opened at $117.46 on Thursday. Chord Energy has a 1 year low of $109.59 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 business’s 50-day moving average is $121.53 and its 200-day moving average is $136.19. The company has a market capitalization of $7.18 billion, a price-to-earnings ratio of 6.05, a P/E/G ratio of 6.35 and a beta of 0.99.

Hedge Funds Weigh In On Chord Energy

Several institutional investors have recently modified their holdings of the business. Pacer Advisors Inc. lifted its holdings in Chord Energy by 8,762.1% during the third quarter. Pacer Advisors Inc. now owns 1,245,034 shares of the company’s stock worth $162,141,000 after acquiring an additional 1,230,985 shares during the period. Victory Capital Management Inc. raised its stake in shares of Chord Energy by 41.3% during the 3rd quarter. Victory Capital Management Inc. now owns 2,245,435 shares of the company’s stock worth $292,423,000 after purchasing an additional 656,374 shares during the period. Point72 Asset Management L.P. boosted its holdings in shares of Chord Energy by 143.8% in the 3rd quarter. Point72 Asset Management L.P. now owns 880,787 shares of the company’s stock worth $114,705,000 after buying an additional 519,547 shares during the last quarter. Millennium Management LLC grew its position in Chord Energy by 226.5% during the second quarter. Millennium Management LLC now owns 696,488 shares of the company’s stock valued at $116,787,000 after buying an additional 483,144 shares during the period. Finally, KGH Ltd increased its holdings in Chord Energy by 872.0% during the second quarter. KGH Ltd now owns 485,998 shares of the company’s stock worth $81,492,000 after buying an additional 435,998 shares during the last quarter. 97.76% of the stock is owned by institutional investors.

Insider Activity at Chord Energy

In other Chord Energy news, CAO Shannon Browning Kinney sold 1,000 shares of the company’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $116.35, for a total value of $116,350.00. Following the completion of the sale, the chief accounting officer now directly 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 sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.70% of the stock is currently owned by insiders.

Chord Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Wednesday, November 27th were issued a dividend of $1.25 per share. The ex-dividend date of this dividend was Wednesday, November 27th. This represents a $5.00 annualized dividend and a yield of 4.26%. Chord Energy’s dividend payout ratio (DPR) is currently 25.75%.

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.