Capital One Financial Forecasts Chord Energy FY2024 Earnings

Chord Energy Co. (NASDAQ:CHRD) – Equities researchers at Capital One Financial reduced their FY2024 earnings estimates for shares of Chord Energy in a research report issued on Tuesday, January 21st. Capital One Financial analyst P. Johnston now expects that the company will post earnings per share of $16.02 for the year, down from their previous estimate of $16.15. The consensus estimate for Chord Energy’s current full-year earnings is $15.64 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 posted 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 analysts’ expectations of $1.26 billion. Chord Energy had a return on equity of 12.88% and a net margin of 19.74%. The firm’s revenue was up 33.4% on a year-over-year basis. During the same quarter last year, the company posted $5.04 EPS.

Other analysts have also recently issued reports about the company. Truist Financial boosted their price target on Chord Energy from $185.00 to $186.00 and gave the stock a “buy” rating in a research report on Monday, January 13th. Bank of America reissued a “neutral” rating and issued a $138.00 target price (down previously from $208.00) on shares of Chord Energy in a research report on Monday, January 13th. BMO Capital Markets dropped their price target on shares of Chord Energy from $205.00 to $175.00 and set an “outperform” rating on the stock in a report on Friday, October 4th. Piper Sandler decreased their price objective on shares of Chord Energy from $194.00 to $193.00 and set an “overweight” rating for the company in a report on Wednesday, January 15th. Finally, Mizuho dropped their target price on shares of Chord Energy from $192.00 to $178.00 and set an “outperform” rating on the stock in a report on Monday, December 16th. Three analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $173.08.

Chord Energy Stock Performance

Shares of CHRD stock opened at $122.11 on Thursday. Chord Energy has a 12 month low of $109.59 and a 12 month high of $190.23. The company has a current ratio of 0.93, a quick ratio of 0.89 and a debt-to-equity ratio of 0.10. The company’s fifty day moving average price is $121.93 and its 200-day moving average price is $136.66. The stock has a market cap of $7.46 billion, a PE ratio of 6.29, a price-to-earnings-growth ratio of 6.19 and a beta of 0.99.

Chord Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Wednesday, November 27th were issued a $1.25 dividend. This represents a $5.00 annualized dividend and a yield of 4.09%. The ex-dividend date of this dividend was Wednesday, November 27th. Chord Energy’s dividend payout ratio is 25.75%.

Insider Activity

In other news, CAO Shannon Browning Kinney sold 1,000 shares of the business’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 owns 19,488 shares of the company’s stock, valued at approximately $2,267,428.80. The trade was a 4.88 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.70% of the company’s stock.

Institutional Trading of Chord Energy

A number of institutional investors and hedge funds have recently bought and sold shares of CHRD. Hexagon Capital Partners LLC raised its position in shares of Chord Energy by 462.9% during the 3rd quarter. Hexagon Capital Partners LLC now owns 197 shares of the company’s stock valued at $26,000 after buying an additional 162 shares in the last quarter. Stone House Investment Management LLC purchased a new position in Chord Energy during the 3rd quarter valued at $26,000. Brooklyn Investment Group bought a new position in Chord Energy in the 4th quarter valued at $29,000. UMB Bank n.a. increased its stake in Chord Energy by 77.7% in the third quarter. UMB Bank n.a. now owns 231 shares of the company’s stock worth $30,000 after purchasing an additional 101 shares during the period. Finally, Spartan Fund Management Inc. bought a new stake in Chord Energy during the 3rd quarter valued at about $34,000. 97.76% of the stock is currently owned by institutional investors.

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.