Capital One Financial Research Analysts Decrease Earnings Estimates for Chord Energy Co. (NASDAQ:CHRD)

Chord Energy Co. (NASDAQ:CHRD) – Investment analysts at Capital One Financial lowered their Q3 2024 earnings estimates for shares of Chord Energy in a research note issued on Tuesday, September 17th. Capital One Financial analyst P. Johnston now anticipates that the company will post earnings of $4.39 per share for the quarter, down from their prior estimate of $5.26. The consensus estimate for Chord Energy’s current full-year earnings is $19.67 per share. Capital One Financial also issued estimates for Chord Energy’s Q4 2024 earnings at $3.85 EPS, FY2024 earnings at $18.05 EPS, Q1 2025 earnings at $3.29 EPS, Q2 2025 earnings at $3.72 EPS, Q3 2025 earnings at $4.11 EPS, Q4 2025 earnings at $4.40 EPS, FY2025 earnings at $15.52 EPS and FY2026 earnings at $18.66 EPS.

Chord Energy (NASDAQ:CHRD) last posted its quarterly earnings data on Wednesday, August 7th. The company reported $4.69 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $5.00 by ($0.31). Chord Energy had a return on equity of 15.06% and a net margin of 20.83%. The company had revenue of $902.70 million for the quarter, compared to the consensus estimate of $982.43 million. During the same period in the prior year, the firm posted $3.65 earnings per share. The business’s revenue was up 29.8% on a year-over-year basis.

Several other analysts also recently weighed in on CHRD. BMO Capital Markets assumed coverage on shares of Chord Energy in a research note on Monday, June 3rd. They issued an “outperform” rating and a $230.00 price target for the company. Truist Financial lowered their price target on shares of Chord Energy from $226.00 to $223.00 and set a “buy” rating for the company in a research note on Monday, July 22nd. Wolfe Research assumed coverage on shares of Chord Energy in a research note on Thursday, July 18th. They issued a “peer perform” rating for the company. Jefferies Financial Group assumed coverage on shares of Chord Energy in a research note on Thursday, September 5th. They issued a “hold” rating and a $160.00 price target for the company. Finally, Piper Sandler lowered their price target on shares of Chord Energy from $234.00 to $206.00 and set an “overweight” rating for the company in a research note on Thursday, August 15th. Two equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, Chord Energy currently has an average rating of “Moderate Buy” and an average target price of $202.10.

Chord Energy Stock Performance

NASDAQ CHRD opened at $136.73 on Friday. Chord Energy has a 52-week low of $129.75 and a 52-week high of $190.23. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.91 and a current ratio of 0.96. The company has a market capitalization of $5.70 billion, a P/E ratio of 6.42, a P/E/G ratio of 4.48 and a beta of 0.99. The company has a fifty day moving average of $152.80 and a 200-day moving average of $167.15.

Hedge Funds Weigh In On Chord Energy

Several hedge funds and other institutional investors have recently modified their holdings of CHRD. Dimensional Fund Advisors LP grew its holdings in Chord Energy by 72.0% in the second quarter. Dimensional Fund Advisors LP now owns 1,771,780 shares of the company’s stock worth $297,090,000 after purchasing an additional 741,705 shares during the period. Victory Capital Management Inc. grew its holdings in shares of Chord Energy by 397.5% during the second quarter. Victory Capital Management Inc. now owns 1,589,061 shares of the company’s stock valued at $266,454,000 after buying an additional 1,269,658 shares during the last quarter. First Trust Advisors LP grew its holdings in shares of Chord Energy by 11.0% during the fourth quarter. First Trust Advisors LP now owns 1,402,359 shares of the company’s stock valued at $233,114,000 after buying an additional 138,957 shares during the last quarter. Boston Partners grew its holdings in shares of Chord Energy by 107.0% during the first quarter. Boston Partners now owns 1,305,942 shares of the company’s stock valued at $232,813,000 after buying an additional 674,965 shares during the last quarter. Finally, American Century Companies Inc. grew its holdings in shares of Chord Energy by 13.2% during the second quarter. American Century Companies Inc. now owns 971,982 shares of the company’s stock valued at $162,982,000 after buying an additional 113,618 shares during the last quarter. Hedge funds and other institutional investors own 97.76% of the company’s stock.

Insider Activity at Chord Energy

In related news, Director Samantha Holroyd purchased 500 shares of Chord Energy stock in a transaction that occurred on Friday, August 23rd. The shares were bought at an average price of $149.51 per share, for a total transaction of $74,755.00. Following the completion of the transaction, the director now directly owns 14,417 shares of the company’s stock, valued at $2,155,485.67. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.70% of the stock is owned by corporate insiders.

Chord Energy Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 5th. Investors of record on Wednesday, August 21st were given a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a dividend yield of 3.66%. The ex-dividend date of this dividend was Wednesday, August 21st. Chord Energy’s dividend payout ratio is currently 23.46%.

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.