Chord Energy Co. (NASDAQ:CHRD) Forecasted to Post Q2 2024 Earnings of $4.68 Per Share

Chord Energy Co. (NASDAQ:CHRD) – Capital One Financial reduced their Q2 2024 earnings per share (EPS) estimates for Chord Energy in a note issued to investors on Tuesday, July 16th. Capital One Financial analyst P. Johnston now forecasts that the company will post earnings per share of $4.68 for the quarter, down from their prior forecast of $5.22. The consensus estimate for Chord Energy’s current full-year earnings is $21.88 per share. Capital One Financial also issued estimates for Chord Energy’s Q3 2024 earnings at $5.30 EPS, Q4 2024 earnings at $5.37 EPS, FY2024 earnings at $20.45 EPS, Q1 2025 earnings at $4.64 EPS, Q2 2025 earnings at $4.89 EPS, Q3 2025 earnings at $5.34 EPS, Q4 2025 earnings at $5.66 EPS, FY2025 earnings at $20.54 EPS and FY2026 earnings at $20.40 EPS.

A number of other research analysts have also weighed in on CHRD. Bank of America restated a “buy” rating and set a $201.00 price objective on shares of Chord Energy in a research report on Friday, June 14th. Citigroup started coverage on Chord Energy in a research report on Monday, July 1st. They set a “buy” rating and a $195.00 price objective for the company. Royal Bank of Canada raised their price objective on Chord Energy from $180.00 to $200.00 and gave the company an “outperform” rating in a research report on Monday, April 29th. Truist Financial dropped their price target on Chord Energy from $228.00 to $226.00 and set a “buy” rating for the company in a research report on Monday, June 3rd. Finally, BMO Capital Markets assumed coverage on Chord Energy in a research report on Monday, June 3rd. They issued an “outperform” rating and a $230.00 price target for the company. One research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, Chord Energy has an average rating of “Moderate Buy” and a consensus target price of $211.11.

Chord Energy Trading Up 0.1 %

Shares of Chord Energy stock opened at $175.55 on Friday. The firm has a market cap of $7.32 billion, a price-to-earnings ratio of 8.24, a PEG ratio of 0.93 and a beta of 1.01. The business has a 50-day moving average price of $173.30 and a 200-day moving average price of $169.61. The company has a quick ratio of 1.07, a current ratio of 1.14 and a debt-to-equity ratio of 0.08. Chord Energy has a twelve month low of $147.40 and a twelve month high of $190.23.

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

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Vest Financial LLC boosted its position in shares of Chord Energy by 36.0% during the fourth quarter. Vest Financial LLC now owns 79,293 shares of the company’s stock valued at $13,181,000 after buying an additional 20,995 shares during the period. Federated Hermes Inc. boosted its position in shares of Chord Energy by 35.4% during the fourth quarter. Federated Hermes Inc. now owns 38,517 shares of the company’s stock valued at $6,403,000 after buying an additional 10,075 shares during the period. Allspring Global Investments Holdings LLC boosted its position in shares of Chord Energy by 12.3% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 491,737 shares of the company’s stock valued at $81,742,000 after buying an additional 53,992 shares during the period. Capital Fund Management S.A. raised its stake in shares of Chord Energy by 252.9% during the fourth quarter. Capital Fund Management S.A. now owns 43,934 shares of the company’s stock valued at $7,303,000 after acquiring an additional 31,484 shares in the last quarter. Finally, LSV Asset Management bought a new stake in shares of Chord Energy during the fourth quarter valued at approximately $16,549,000. Hedge funds and other institutional investors own 97.76% of the company’s stock.

Chord Energy Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 5th. Shareholders of record on Wednesday, May 22nd were given a dividend of $2.94 per share. The ex-dividend date was Tuesday, May 21st. This represents a $11.76 annualized dividend and a dividend yield of 6.70%. Chord Energy’s dividend payout ratio (DPR) is presently 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.