Start here if you're new
what it is
Chord Energy drills for oil, gas liquids, and natural gas in North Dakota's Williston Basin and sells what comes out of the ground.
how it gets paid
Last year Chord Energy made $4.9B in revenue. Crude oil sales was the main engine at $3.82B, or 78% of sales.
why growth slowed
Revenue fell 7.1% last year. EPS of -$0.72 mattered most because revenue can bounce around in commodity businesses.
what just happened
The latest reported quarter showed $3.7B of revenue, but EPS fell to -$0.72, which is what investors actually heard.
At a glance
B++ balance sheet — above average — nothing keeping you up at night
35.4x trailing p/e — you're paying up for this one
4.2% dividend yield — cash in your pocket every quarter
9.2% return on capital — nothing to write home about
$16.02 fy2024 eps est
xvary composite: 53/100 — below average
What they do
Chord Energy drills for oil, gas liquids, and natural gas in North Dakota's Williston Basin and sells what comes out of the ground.
Chord wins by being concentrated, not diversified. It controls 1,254,860 net leasehold acres in the Williston Basin and runs 4,824 gross producing wells, so your barrels move through infrastructure it already knows how to use. E&P → drilling for hydrocarbons → so what: scale in one basin can keep costs lower than a scattered rival.
How they make money
$4.9B
annual revenue · their business grew -7.1% last year
Crude oil sales
$3.82B
NGL sales
$0.54B
Natural gas sales
$0.29B
Marketing and other
$0.25B
The products that matter
produces and sells oil
Crude Oil
$3.2B · 65% of revenue
This is the core business. At $3.2B, crude oil accounts for roughly two-thirds of revenue, so your thesis rises and falls with oil prices first.
dominant revenue stream
sells mixed hydrocarbons
Natural Gas Liquids
$920M · 19% of revenue
NGLs add $920M of revenue. Helpful, yes, but still not enough to offset how oil-heavy the overall mix is.
secondary driver
sells produced gas
Natural Gas
$780M · 16% of revenue
Natural gas brings in $780M. It rounds out the portfolio, but it does not change the fact that this is mainly an oil story.
diversifier, not moat
Key numbers
$16.02
FY24 EPS
That's the 2024 full-year earnings figure, down from $23.51 in 2023 and $44.35 in 2022, so your profit base is shrinking fast.
$1.5B
long-term debt
Debt equals 17% of capital, which is manageable, but you are still carrying leverage in a business tied to commodity prices.
4.2%
dividend yield
You are getting paid to wait, but that income sits on top of earnings that have already fallen 63.9% since 2022.
9.2%
return on capital
Return on capital → profit earned on the money tied up in the business → so what: 9.2% is decent, not elite, for a cyclical driller.
Financial health
B++
strength
- balance sheet grade B++ — above average financial health
- risk rank 4 — safer than 20% of stocks
- price stability 45 / 100
- long-term debt $1.5B (17% of capital)
B++ — functional but not a standout on the balance sheet.
Total return vs. market
Return history isn't available for CHRD right now.
source: institutional data · return history unavailable
What just happened
missed estimates
The latest reported quarter showed $3.7B of revenue, but EPS fell to -$0.72, which is what investors actually heard.
Revenue jumped 183% vs. prior year in the latest reported quarter, yet earnings still went negative. That is the kind of contrast that tells you volumes can rise while profitability still breaks.
$1.2B
revenue
$0.72
eps
+183%
revenue vs. last year
the number that mattered
EPS of -$0.72 mattered most because revenue can bounce around in commodity businesses, but a negative per-share profit tells you the price-cost spread got ugly.
source: company earnings report, 2026
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What could go wrong
The #1 risk is oil and gas price exposure. CHRD is a commodity producer with $3.2B of revenue tied to crude oil alone.
high
Commodity price reset
Crude oil is $3.2B of revenue, or 65% of the total. Natural gas liquids add $920M and natural gas adds $780M. If energy prices fall, nearly the whole income statement feels it.
Revenue exposure: almost the entire $5B business
med
Valuation compression
A 35.4x trailing P/E can work for a compounding software business. It looks much less comfortable on a company with a 1.0% net margin and a 9.2% return on capital.
The gap between valuation and business quality is the bear case
med
Execution without a moat
Management is targeting 157–161 thousand barrels of oil per day in 2026. If production misses that range, the "stable operator" argument starts to look thin fast.
Miss the plan, and you are left with commodity exposure plus premium valuation
low
Capital return disappointment
The 4.2% dividend yield helps support the case for owning the stock. If cash generation weakens, that income support matters less and the valuation has to stand on its own.
Supportive today, but only if the cash keeps showing up
Put simply: commodity prices touch nearly all of the $5B revenue base, while the stock still asks you to pay 35.4x trailing earnings.
source: institutional data · regulatory filings · risk analysis
Pay attention to
metric
net margin recovery
A 1.0% net margin on $5B of revenue is the number that makes the valuation hard to defend. If that margin does not recover, the multiple has nowhere to hide.
risk
crude oil mix
Crude oil is 65% of revenue at $3.2B. That concentration is the whole story. Diversification exists, but only around the edges.
calendar
next quarterly print
After the Feb 26, 2026 report, the next quarter needs to answer a simple question: was the $1.28 EPS beat the start of stabilization or just a clean quarter in a noisy business.
trend
2026 production target
Management is aiming for 157–161 thousand barrels of oil per day. Hit the range and the operating story holds. Miss it and the stock becomes harder to defend at this valuation.
Analyst rankings
safety
4
Risk rank 4 means this screens as safer than only 20% of stocks in the system. That's not disaster territory. It also isn't comfort food.
price stability
45 / 100
The stock has middling stability. In plain English: you should expect movement, because energy stocks follow the tape.
source: institutional data
Institutional activity
institutional ownership data for CHRD is being compiled.
source: institutional data
Price targets
3-5 year target range
n/a
n/a
$91
current price
n/a
target midpoint · n/a from current
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