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Chord Energy's Q3 Earnings on Deck: Should You Bet on the Stock?
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Key Takeaways
Chord Energy's Q3 earnings are expected to surge 150.6%, with revenues rising 5.3%.
Higher oil prices and strong well performance boosted CHRD's Q3 production.
CHRD has gained 72.7% in a year and remains undervalued with low debt exposure.
Chord Energy Corp. (CHRD - Free Report) is set to report third-quarter 2026 results on Nov. 4, after the closing bell.
The Zacks Consensus Estimate for third-quarter earnings is pegged at $5.89 per share, implying a surge of 150.6% from the year-ago reported number. It has witnessed no estimate revisions in the past seven days. The Zacks Consensus Estimate for third-quarter revenues is currently pegged at $1.38 billion, suggesting a roughly 5.3% rise from the year-ago actuals.
Image Source: Zacks Investment Research
CHRD beat the consensus estimate for earnings in three of the trailing four quarters and missed once, with the average surprise being 11.7%. This is depicted in the graph below:
Q3 Earnings Whispers for CHRD
Our proven model doesn't predict an earnings beat for CHRD this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy), or 3 (Hold) increases the chances of an earnings beat. That isn’t the case here.
You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
CHRD’s Factors to Note
To understand how oil prices behaved in the September quarter, let's analyze the commodity prices from the data provided by the U.S. Energy Information Administration (“EIA”). The average Cushing, OK, WTI spot prices for July, August and September of this year were $80.46 per barrel, $83.90 per barrel and $97.31 per barrel, respectively, per EIA data. Commodity prices were $68.39 per barrel, $64.86 per barrel and $63.96 per barrel in the prior-year respective months, according to the EIA.
A constructive oil-price backdrop, driven by the Iran war, is likely to have aided the company’s exploration and production businesses in the September quarter of this year, similar to ConocoPhillips (COP - Free Report) and EOG Resources Inc. (EOG - Free Report) .
Also, in its preliminary results for the third quarter of 2026, Chord Energy mentioned the range for oil production of 165.4-165.6 thousand barrels per day (MBbl/D), which is higher than the prior guidance of 161.5-164.5 MBbl/D. CHRD mentioned that new and existing wells both performed well in the quarter, which supported its production.
Thus, high oil prices and handsome production volumes are likely to have aided the company’s upstream business.
CHRD’s Price Performance & Valuation
CHRD's stock has jumped 72.7% over the past year, outperforming the industry’s 44% surge. COP has gained 73.9% over the same time frame, while EOG has rallied 56.7%.
One-Year Price Chart
Image Source: Zacks Investment Research
Despite CHRD’s stock price having outperformed the industry, the company appears relatively undervalued. The company's current trailing 12-month enterprise value/earnings before interest, tax, depreciation and amortization (EV/EBITDA) is 3.52x, reflecting that it is trading at a discount compared with the industry average of 11.92x. Both COP and EOG are valued lower at 7.11x and 6.38x, respectively.
Image Source: Zacks Investment Research
Investment Thesis of CHRD
West Texas Intermediate (“WTI”) crude is trading at close to the $100-per-barrel mark. The high prices are being driven by intensifying tensions in the Middle East. The EIA, in its latest short-term energy outlook, projected WTI at $88.21 per barrel this year, higher than $65.40 last year. A highly favorable oil pricing environment is likely to continue supporting CHRD’s exploration and production activities, similar to COP and EOG.
Moreover, the company has significantly lower exposure to debt capital compared to composite stocks belonging to the industry. The company’s debt to capitalization of 15.06%, is lower than the industry’s 48.35%, reflecting the fact that the company will be able to sail through if business conditions turn unfavorable.
Last Word
Given its favorable business outlook and attractive valuation, investors may consider buying shares of the exploration and production company.
View the Zacks #1 Rank List
Image: Bigstock
Chord Energy's Q3 Earnings on Deck: Should You Bet on the Stock?
Key Takeaways
Chord Energy Corp. (CHRD - Free Report) is set to report third-quarter 2026 results on Nov. 4, after the closing bell.
The Zacks Consensus Estimate for third-quarter earnings is pegged at $5.89 per share, implying a surge of 150.6% from the year-ago reported number. It has witnessed no estimate revisions in the past seven days. The Zacks Consensus Estimate for third-quarter revenues is currently pegged at $1.38 billion, suggesting a roughly 5.3% rise from the year-ago actuals.
CHRD beat the consensus estimate for earnings in three of the trailing four quarters and missed once, with the average surprise being 11.7%. This is depicted in the graph below:
Q3 Earnings Whispers for CHRD
Our proven model doesn't predict an earnings beat for CHRD this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy), or 3 (Hold) increases the chances of an earnings beat. That isn’t the case here.
The leading exploration and production player has an Earnings ESP of 0.00%. CHRD currently sports a Zacks Rank #1. You can see the complete list of today’s Zacks #1 Rank stocks here.
You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
CHRD’s Factors to Note
To understand how oil prices behaved in the September quarter, let's analyze the commodity prices from the data provided by the U.S. Energy Information Administration (“EIA”). The average Cushing, OK, WTI spot prices for July, August and September of this year were $80.46 per barrel, $83.90 per barrel and $97.31 per barrel, respectively, per EIA data. Commodity prices were $68.39 per barrel, $64.86 per barrel and $63.96 per barrel in the prior-year respective months, according to the EIA.
A constructive oil-price backdrop, driven by the Iran war, is likely to have aided the company’s exploration and production businesses in the September quarter of this year, similar to ConocoPhillips (COP - Free Report) and EOG Resources Inc. (EOG - Free Report) .
Also, in its preliminary results for the third quarter of 2026, Chord Energy mentioned the range for oil production of 165.4-165.6 thousand barrels per day (MBbl/D), which is higher than the prior guidance of 161.5-164.5 MBbl/D. CHRD mentioned that new and existing wells both performed well in the quarter, which supported its production.
Thus, high oil prices and handsome production volumes are likely to have aided the company’s upstream business.
CHRD’s Price Performance & Valuation
CHRD's stock has jumped 72.7% over the past year, outperforming the industry’s 44% surge. COP has gained 73.9% over the same time frame, while EOG has rallied 56.7%.
One-Year Price Chart
Despite CHRD’s stock price having outperformed the industry, the company appears relatively undervalued. The company's current trailing 12-month enterprise value/earnings before interest, tax, depreciation and amortization (EV/EBITDA) is 3.52x, reflecting that it is trading at a discount compared with the industry average of 11.92x. Both COP and EOG are valued lower at 7.11x and 6.38x, respectively.
Investment Thesis of CHRD
West Texas Intermediate (“WTI”) crude is trading at close to the $100-per-barrel mark. The high prices are being driven by intensifying tensions in the Middle East. The EIA, in its latest short-term energy outlook, projected WTI at $88.21 per barrel this year, higher than $65.40 last year. A highly favorable oil pricing environment is likely to continue supporting CHRD’s exploration and production activities, similar to COP and EOG.
Moreover, the company has significantly lower exposure to debt capital compared to composite stocks belonging to the industry. The company’s debt to capitalization of 15.06%, is lower than the industry’s 48.35%, reflecting the fact that the company will be able to sail through if business conditions turn unfavorable.
Last Word
Given its favorable business outlook and attractive valuation, investors may consider buying shares of the exploration and production company.