Chord Energy Co. (CHRD) To Go Ex-Dividend on March 11th

Chord Energy Co. (NASDAQ:CHRD) announced a quarterly dividend on Saturday, March 8th, Wall Street Journal reports. Shareholders 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 dividend on an annualized basis and a yield of 5.02%. The ex-dividend date of this dividend is Tuesday, March 11th. This is a 4.0% increase from Chord Energy’s previous quarterly dividend of $1.25.

Chord Energy has increased its dividend payment by an average of 34.3% annually over the last three years. Chord Energy has a payout ratio of 37.1% indicating that its dividend is sufficiently covered by earnings. 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 Stock Performance

Shares of Chord Energy stock opened at $103.63 on Friday. Chord Energy has a fifty-two week low of $99.40 and a fifty-two week high of $190.23. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.93 and a quick ratio of 0.89. The firm has a market capitalization of $6.18 billion, a P/E ratio of 5.34, a P/E/G ratio of 5.83 and a beta of 0.98. The company’s 50 day moving average price is $115.54 and its two-hundred day moving average price is $125.06.

Analysts Set New Price Targets

A number of brokerages have weighed in on CHRD. Citigroup cut their target price on shares of Chord Energy from $160.00 to $135.00 and set a “buy” rating on the stock in a research report on Tuesday, March 4th. 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 report on Monday, December 16th. Morgan Stanley initiated coverage on shares of Chord Energy in a report on Friday, January 10th. They set an “equal weight” rating and a $158.00 price target on the stock. Piper Sandler cut their price target on shares of Chord Energy from $193.00 to $184.00 and set an “overweight” rating on the stock in a report on Thursday. Finally, Royal Bank of Canada cut their price target on shares of Chord Energy from $185.00 to $180.00 and set an “outperform” rating on the stock in a report on Wednesday, November 20th. Three investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Chord Energy currently has a consensus rating of “Moderate Buy” and an average price target of $165.42.

Insider Buying and Selling

In other Chord Energy news, CAO Shannon Browning Kinney sold 1,000 shares of Chord Energy 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 completion of the sale, the chief accounting officer now directly 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 document filed with the SEC, which is accessible through this hyperlink. 0.70% of the stock is owned by insiders.

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.