Chord Energy Corporation
- Open
- 117.11
- Day high
- 118.23
- Day low
- 113.95
- Prev close
- 115.97
- Volume
- 889K
- Mkt cap
- $6.3B
- P/E (TTM)
- —
- EPS (TTM)
- —
- P/B
- 0.8
- P/S
- 1.2
- Yield
- 4.63%
- Per share
- $5.20
- ▼Insiders net selling -$1.3M over the last 3 months (0 open-market buys, 4 sales)
- 🏛Institutions mixed (13F)
Chord Energy Corporation (CHRD) is a Energy company listed on NASDAQ. The stock is up 13% over the past year. Over the trailing 3 months, insiders filed 0 open-market buys and 4 sales (SEC Form 4).
Chord Energy Corporation (CHRD) financials & analyst ratings
Fundamentals (TTM)
Analyst consensus · 7 analysts
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
CHRD earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| May 6, 2026 | $3.49 | $4.56 | +30.7% | $1.7B | +37.9% |
| Feb 26, 2026 | $1.17 | $1.28 | +9.4% | $1.2B | +15.3% |
| Aug 6, 2025 | $1.88 | $1.79 | -4.8% | $1.2B | +24.7% |
| Feb 21, 2024 | $4.97 | $5.25 | +5.6% | $965M | +11.1% |
| Nov 1, 2023 | $4.97 | $5.04 | +1.4% | $1.1B | +40.0% |
| Aug 2, 2023 | $3.83 | $3.65 | -4.7% | $912M | +30.0% |
| May 3, 2023 | $4.15 | $4.50 | +8.4% | $897M | +26.4% |
| Feb 22, 2023 | $5.89 | $5.28 | -10.4% | $1.0B | +26.2% |
| Nov 2, 2022 | $8.06 | $7.20 | -10.7% | $1.2B | +41.6% |
| Aug 3, 2022 | $8.26 | $7.30 | -11.6% | $789M | +91.8% |
| May 4, 2022 | $6.72 | $8.32 | +23.8% | $653M | +78.9% |
| Feb 23, 2022 | $5.44 | $5.68 | +4.4% | $522M | +62.2% |
CHRD insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| May 18, 2026 | Henke Darrin J.officer: EVP and COO | Sell | 1,276 | $145.97 |
| May 11, 2026 | Brooks Douglas Edirector | Sell | 1,500 | $138.57 |
| May 11, 2026 | Brooks Douglas Edirector | Sell | 3,500 | $136.71 |
| May 11, 2026 | Brooks Douglas Edirector | Sell | 3,000 | $137.79 |
| May 1, 2026 | Sheets Jeffrey Waynedirector | Grant | 1,524 | — |
| May 1, 2026 | Taylor Annedirector | Grant | 1,524 | — |
| May 1, 2026 | Woung-Chapman Margueritedirector | Grant | 1,524 | — |
| May 1, 2026 | Brooks Douglas Edirector | Grant | 1,524 | — |
| May 1, 2026 | CUNNINGHAM SUSAN Mdirector | Grant | 2,134 | — |
| May 1, 2026 | Dundas Ian Cdirector | Grant | 1,524 | — |
| May 1, 2026 | Foulkes Hilary Adirector | Grant | 1,524 | — |
| May 1, 2026 | McCarthy Kevin Sdirector | Grant | 1,524 | — |
| May 1, 2026 | McKinney Samanthadirector | Grant | 1,524 | — |
| May 1, 2026 | Polzin Warddirector | Grant | 1,524 | — |
| Mar 16, 2026 | Lou Michael Hofficer: EVP, CSO, and CCO | Sell | 14,503 | $125.44 |
Source: CHRD SEC Form 4 filings, latest May 18, 2026. For informational purposes only — not investment advice.
See the full CHRD insider & 13F page →Chord Energy Corporation company profile
Overview
Chord Energy Corporation (NYSE:CHRD) is an independent oil and gas exploration and production company founded in 2007 and headquartered in Houston, Texas. The company went public in 2010 and has grown significantly through strategic acquisitions, most notably completing a major merger with Enerplus in May 2024. Chord operates primarily in the Williston Basin, focusing on the development of unconventional oil and gas resources in North Dakota's Bakken formation. The company has established itself as a disciplined operator with a strong focus on returning capital to shareholders while maintaining operational efficiency in one of North America's premier oil-producing regions.
Business
Chord Energy operates in the upstream oil and gas industry, specifically focusing on the exploration, development, and production of crude oil, natural gas, and natural gas liquids (NGLs). The company's primary operations are concentrated in the Williston Basin, which encompasses the prolific Bakken and Three Forks formations in North Dakota. The Williston Basin is one of the most significant unconventional oil plays in North America, where oil and gas are extracted from tight rock formations using horizontal drilling and hydraulic fracturing (fracking) techniques. These formations contain oil that cannot flow naturally and requires advanced extraction methods to unlock the hydrocarbons trapped within low-permeability rock layers. Chord's core business involves several key activities: acquiring mineral rights and leases, drilling horizontal wells that can extend several miles underground, completing these wells through hydraulic fracturing to create pathways for oil and gas to flow, and then producing and selling these commodities. The company has been particularly focused on drilling extended lateral wells - horizontal wells that stretch three to four miles underground rather than the traditional shorter laterals, which allows them to access more of the oil-bearing rock formation from a single well location. The company also maintains a smaller non-operated position in the Marcellus Shale in Pennsylvania, which produces natural gas, though management considers this a non-core asset that they are looking to monetize. Approximately 95% of Chord's production and focus is on the Williston Basin oil operations, with the Marcellus representing a minor portion of overall revenues.
Revenue model
Chord Energy generates revenue primarily through the sale of crude oil, natural gas, and natural gas liquids directly to commodity markets and purchasers. As a commodity producer, the company's revenues fluctuate based on prevailing market prices for these energy products, with oil typically representing the largest portion of revenue given the company's focus on oil-rich acreage in the Williston Basin. The company's customers include oil refiners, marketers, and other energy companies who purchase the produced hydrocarbons. Chord typically sells its oil at prices that track closely to West Texas Intermediate (WTI) crude oil benchmarks, often realizing prices within $1-2 per barrel of WTI due to the high quality of Bakken crude and improved transportation infrastructure. Several factors significantly impact Chord's profitability and margins. Commodity price volatility represents the primary external risk, as oil and gas prices are influenced by global supply and demand dynamics, geopolitical events, economic conditions, and seasonal factors. Higher oil prices directly translate to improved margins, while price declines can quickly erode profitability. Operational efficiency gains serve as key margin enhancers. The company has focused on drilling longer lateral wells (three-mile and four-mile horizontals versus traditional two-mile wells), which can access more reservoir rock and typically generate 40% higher estimated ultimate recovery (EUR) per well. Improved drilling times, better completion techniques, and reduced downtime between wells all contribute to lower per-unit costs. Service cost inflation represents a significant margin pressure, as the company relies on specialized drilling rigs, fracking crews, and oilfield services. During periods of high industry activity, these service costs can increase substantially. Conversely, during downturns, Chord can benefit from reduced service costs. The company has demonstrated ability to adjust activity levels based on commodity prices and service cost dynamics. Transportation and infrastructure constraints can impact realizations, though the Williston Basin has seen significant pipeline capacity additions in recent years, reducing the historical discounts that Bakken crude traded at relative to WTI.
Competitive moat
Chord Energy operates in the commodity oil and gas production industry, which typically offers limited sustainable competitive advantages due to the nature of commodity markets where products are largely undifferentiated and prices are set by global supply and demand dynamics. However, the company does possess several competitive positioning elements. Chord's high-quality acreage position in the core areas of the Williston Basin provides access to some of the most prolific and economic drilling locations in North America. The Bakken formation in this region is known for its high oil content, strong well productivity, and favorable geology that supports extended lateral drilling. This geographic advantage is somewhat durable as prime acreage positions cannot be easily replicated. The company's operational expertise and scale in the Williston Basin provides some competitive benefits. Through years of drilling experience and the recent Enerplus acquisition, Chord has developed specialized knowledge in optimizing well completion designs, reducing drilling times, and maximizing recovery from Bakken wells. Their ability to drill four-mile lateral wells faster than expected demonstrates technical competency that can translate to cost advantages. Financial discipline and capital allocation represents another differentiating factor. Chord's commitment to returning 75-100% of free cash flow to shareholders through dividends and share repurchases, combined with maintaining low leverage, provides financial flexibility that some competitors may lack during commodity downturns. However, these advantages are relatively modest in the context of the broader energy industry. New entrants with sufficient capital can acquire acreage and hire experienced personnel, technology and best practices tend to disseminate quickly across the industry, and ultimately, Chord remains a price-taker in global commodity markets. The company faces ongoing competitive pressure from other Bakken operators, alternative energy sources, and global oil producers who can influence market prices regardless of Chord's operational efficiency.
Risks & safety
Chord Energy demonstrates a strong margin of safety from a financial stability perspective, though commodity price volatility creates inherent business risk. **Debt and Solvency:** - Very low leverage at 0.3x debt-to-EBITDA ratio - Debt-to-equity ratio of only 11.2%, indicating minimal financial risk - Strong current liquidity with $657 million in operating cash flow in Q1 2025 - No apparent near-term solvency concerns given strong cash generation **Cash Generation:** - Robust free cash flow of $348 million in Q1 2025 alone - Full-year 2024 free cash flow of $918 million demonstrates consistent cash generation - Company maintains discipline of returning 75-100% of free cash flow to shareholders - Low cash burn risk due to ability to quickly adjust capital spending based on commodity prices **Valuation Metrics:** - Trading at attractive 7.6x P/E ratio based on Q1 2025 earnings - EV/EBITDA of 4.0x appears reasonable for cyclical commodity business - Price-to-book ratio of 0.78x suggests trading below book value - Graham number analysis suggests potential undervaluation **Other Considerations:** - Commodity price sensitivity creates earnings volatility risk - Hedging program covers approximately 40% of production, providing some price protection - Strong operational metrics with improving well productivity and drilling efficiency
Recent development
Over the past few years, Chord Energy has undergone significant strategic transformation through both operational improvements and major corporate transactions. The most significant development was the completion of the merger with Enerplus in May 2024, which substantially increased the company's scale and asset base in the Williston Basin. This transaction has exceeded expectations, with management increasing their synergy target from $150 million to over $200 million annually, expecting full realization by late 2025. The company has made substantial progress in extended lateral drilling technology, transitioning from traditional two-mile horizontal wells to three-mile and now four-mile lateral wells. This technological advancement represents a key competitive differentiator, with three-mile laterals showing approximately 40% higher estimated ultimate recovery compared to shorter wells. Chord successfully drilled its first four-mile lateral well and is targeting conversion of 80% of its drilling inventory to these longer lateral designs, which improve capital efficiency and per-well economics. Operational efficiency improvements have been a consistent focus, with the company reducing drilling times to approximately 11 days per well and implementing simul-frac operations that allow multiple wells to be completed simultaneously. These efficiency gains, combined with improved well spacing strategies and enhanced completion techniques, have contributed to the company's ability to maintain production levels while reducing capital expenditures. The company has also demonstrated enhanced capital discipline, reducing full-year capital guidance by $30 million in 2025 without changing production targets and scaling back from multiple frac crews to a single crew operation. This flexibility allows Chord to maintain financial returns across different commodity price environments while preserving the option to increase activity levels if oil prices improve to the mid-$60s per barrel range.
CHRD company profile · for informational purposes only — not investment advice.
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