Chord Energy Co. (NASDAQ:CHRD) Increases Dividend to $1.30 Per Share

Chord Energy Co. (NASDAQ:CHRD) declared a quarterly dividend on Wednesday, February 26th, Wall Street Journal reports. Investors of record on Tuesday, March 11th will be paid 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 an increase from Chord Energy’s previous quarterly dividend of $1.25.

Chord Energy has raised its dividend by an average of 34.3% per year over the last three years. Chord Energy has a payout ratio of 38.9% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Chord Energy to earn $13.13 per share next year, which means the company should continue to be able to cover its $5.20 annual dividend with an expected future payout ratio of 39.6%.

Chord Energy Price Performance

CHRD stock opened at $113.46 on Friday. Chord Energy has a 52 week low of $107.24 and a 52 week high of $190.23. 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 firm’s fifty day moving average is $116.30 and its 200 day moving average is $127.15. The firm has a market cap of $6.94 billion, a P/E ratio of 5.84, a P/E/G ratio of 5.83 and a beta of 0.98.

Insider Activity at Chord Energy

In related news, CAO Shannon Browning Kinney sold 1,000 shares of the business’s stock in a transaction on Monday, December 9th. The stock was sold at an average price of $121.27, for a total transaction of $121,270.00. Following the completion of the transaction, the chief accounting officer now owns 20,488 shares in the company, valued at $2,484,579.76. The trade was a 4.65 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.70% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several brokerages recently issued reports on CHRD. UBS Group decreased their price target on shares of Chord Energy from $168.00 to $161.00 and set a “buy” rating for the company in a research note on Monday, December 9th. Piper Sandler dropped their price target on shares of Chord Energy from $194.00 to $193.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 15th. Morgan Stanley assumed coverage on shares of Chord Energy in a research note on Friday, January 10th. They set an “equal weight” rating and a $158.00 price objective for the company. Wells Fargo & Company dropped their target price on shares of Chord Energy from $176.00 to $175.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 15th. Finally, Wolfe Research raised Chord Energy from a “peer perform” rating to an “outperform” rating and set a $155.00 price objective on the stock in a research report on Friday, January 3rd. Three analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $169.92.

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.