Capital One Financial Weighs in on Chord Energy Co.’s Q3 2024 Earnings (NASDAQ:CHRD)

Chord Energy Co. (NASDAQ:CHRD) – Capital One Financial cut their Q3 2024 EPS estimates for Chord Energy in a research note issued to investors on Monday, June 17th. Capital One Financial analyst P. Johnston now expects that the company will post earnings of $5.67 per share for the quarter, down from their previous forecast of $5.86. The consensus estimate for Chord Energy’s current full-year earnings is $22.63 per share. Capital One Financial also issued estimates for Chord Energy’s Q4 2024 earnings at $5.94 EPS, FY2024 earnings at $22.01 EPS and FY2025 earnings at $22.96 EPS.

Several other equities analysts also recently issued reports on CHRD. BMO Capital Markets initiated coverage on shares of Chord Energy in a report on Monday, June 3rd. They set an “outperform” rating and a $230.00 price target for the company. Truist Financial reduced their price objective on shares of Chord Energy from $228.00 to $226.00 and set a “buy” rating for the company in a report on Monday, June 3rd. Royal Bank of Canada upped their price objective on shares of Chord Energy from $180.00 to $200.00 and gave the stock an “outperform” rating in a report on Monday, April 29th. Mizuho upped their price objective on shares of Chord Energy from $195.00 to $214.00 and gave the stock a “buy” rating in a report on Monday, May 13th. Finally, Stifel Nicolaus upped their price objective on shares of Chord Energy from $178.00 to $211.00 and gave the stock a “buy” rating in a report on Tuesday, February 27th. One equities research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Chord Energy presently has an average rating of “Moderate Buy” and an average price target of $204.00.

Chord Energy Stock Performance

Shares of CHRD opened at $166.75 on Tuesday. Chord Energy has a 1 year low of $145.06 and a 1 year high of $190.23. The company has a market cap of $6.95 billion, a price-to-earnings ratio of 7.82 and a beta of 1.05. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.07 and a current ratio of 1.14. The firm has a fifty day moving average of $178.32 and a 200-day moving average of $168.55.

Chord Energy (NASDAQ:CHRD) last announced its quarterly earnings results on Tuesday, May 7th. The company reported $5.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.75 by $0.35. Chord Energy had a net margin of 22.67% and a return on equity of 16.57%. The company had revenue of $1.09 billion during the quarter, compared to the consensus estimate of $771.87 million. During the same quarter in the previous year, the company posted $4.50 earnings per share. The company’s revenue for the quarter was up 24.8% compared to the same quarter last year.

Institutional Trading of Chord Energy

Institutional investors and hedge funds have recently bought and sold shares of the stock. Rise Advisors LLC acquired a new stake in Chord Energy during the 1st quarter worth about $31,000. Contravisory Investment Management Inc. increased its holdings in shares of Chord Energy by 48.9% in the 4th quarter. Contravisory Investment Management Inc. now owns 259 shares of the company’s stock valued at $43,000 after purchasing an additional 85 shares during the period. SRS Capital Advisors Inc. increased its holdings in shares of Chord Energy by 306.9% in the 4th quarter. SRS Capital Advisors Inc. now owns 293 shares of the company’s stock valued at $49,000 after purchasing an additional 221 shares during the period. Lindbrook Capital LLC increased its holdings in shares of Chord Energy by 67.6% in the 4th quarter. Lindbrook Capital LLC now owns 305 shares of the company’s stock valued at $51,000 after purchasing an additional 123 shares during the period. Finally, Viking Fund Management LLC increased its holdings in shares of Chord Energy by 40.0% in the 4th quarter. Viking Fund Management LLC now owns 350 shares of the company’s stock valued at $58,000 after purchasing an additional 100 shares during the period. Institutional investors and hedge funds own 97.76% of the company’s stock.

Chord Energy Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 5th. Shareholders of record on Wednesday, May 22nd were issued a dividend of $2.94 per share. The ex-dividend date was Tuesday, May 21st. This represents a $11.76 annualized dividend and a yield of 7.05%. Chord Energy’s payout ratio is presently 23.46%.

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.