Chord Energy Co. (NASDAQ:CHRD) Declares Dividend Increase – $1.30 Per Share

Chord Energy Co. (NASDAQ:CHRD) declared a quarterly dividend on Wednesday, February 26th, Wall Street Journal reports. Shareholders of record on Tuesday, March 11th will be given a dividend of 1.30 per share on Wednesday, March 26th. This represents a $5.20 annualized dividend and a yield of 4.58%. The ex-dividend date is Tuesday, March 11th. This is a positive change from Chord Energy’s previous quarterly dividend of $1.25.

Chord Energy has increased its dividend by an average of 34.3% per year over the last three years. Chord Energy has a payout ratio of 5.7% meaning its dividend is sufficiently covered by earnings. Research analysts expect Chord Energy to earn $13.13 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 5.8%.

Chord Energy Stock Performance

Shares of CHRD traded up $4.88 during mid-day trading on Wednesday, hitting $113.44. The company’s stock had a trading volume of 1,232,947 shares, compared to its average volume of 778,372. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.89 and a current ratio of 0.93. The stock’s 50-day moving average is $116.27 and its two-hundred day moving average is $127.25. Chord Energy has a one year low of $107.24 and a one year high of $190.23. The firm has a market capitalization of $6.93 billion, a PE ratio of 5.86, a price-to-earnings-growth ratio of 5.83 and a beta of 0.98.

Insider Activity

In other Chord Energy news, CAO Shannon Browning Kinney sold 1,000 shares of the firm’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $116.35, for a total value of $116,350.00. Following the transaction, the chief accounting officer now directly owns 19,488 shares of the company’s stock, valued at approximately $2,267,428.80. This trade represents a 4.88 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.70% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. Wolfe Research raised shares of Chord Energy from a “peer perform” rating to an “outperform” rating and set a $155.00 target price on the stock in a report on Friday, January 3rd. Truist Financial increased their target price on Chord Energy from $185.00 to $186.00 and gave the stock a “buy” rating in a research note on Monday, January 13th. Mizuho cut their price target on shares of Chord Energy from $192.00 to $178.00 and set an “outperform” rating on the stock in a research report on Monday, December 16th. Royal Bank of Canada dropped their price target on Chord Energy from $185.00 to $180.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 20th. Finally, Morgan Stanley initiated coverage on Chord Energy in a report on Friday, January 10th. They set an “equal weight” rating and a $158.00 target price for the company. Three equities research 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’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $173.08.

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.