It has been about a month since the last earnings report for Chord Energy Corporation (CHRD). Shares have added about 36.6% in that time frame, outperforming the S&P 500.
Will the recent positive trend continue leading up to its next earnings release, or is Chord Energy Corporation due for a pullback? Well, first let's take a quick look at its most recent earnings report in order to get a better handle on the recent drivers for Chord Energy Corporation before we dive into how investors and analysts have reacted as of late.
Chord Energy Q4 Earnings Beat Expectations, Revenues Decline Y/Y
Chord Energy reported reported fourth-quarter adjusted earnings of $1.28 per share, which beat the Zacks Consensus Estimate of $1.17. The bottom line declined from the year-ago quarter’s level of $3.49.
Total quarterly revenues of $876.6 million missed the Zacks Consensus Estimate of $910.7 million. The top line decreased from the prior-year level of $1,064.2 million.
Better-than-expected quarterly earnings can be primarily attributed to a decrease in total operating expenses. A decline in production volumes and lower oil price realization largely offset the positives.
Overall Production
CHRD’s total production in the fourth quarter was 272.8 thousand barrels of oil equivalent per day (MBoE/D), below the 273.5 MBoE/D recorded a year ago.
Oil production (accounting for 56.1% of the total production) in the quarter amounted to 153 thousand barrels per day (MBbl/D), marginally lower than 153.3 MBbl/D registered in the year-ago period. Natural gas liquids production came in at 52.4 MBbl/D, higher than 51.8 MBbl/D in the prior-year quarter.
Natural gas production was 404.2 million cubic feet per day MMcf/D, down from 410.5 MMcf/D recorded a year ago.
Realized Prices (Excluding Derivative Realized)
Average sales prices for natural gas were approximately $1.40 per Mcf, higher than the $1.21 recorded a year ago.
The company’s oil price realization in the quarter was $56.90 per barrel (Bbl), lower than the $68.79 recorded a year ago.
Operating Expenses
Total operating expenses decreased to $1,081.7 million from $1,192.7 million in the year-ago period.
Lease operating costs were $244 million, up from $241.5 million recorded in the year-ago quarter. The purchased oil and gas expenses were $291.1 million, lower than the prior-year figure of $390.6 million.
Capex & Financials
In the fourth quarter, Chord Energy spent $301.6 million on exploration & production capital expenditures. As of Dec. 31, 2025, CHRD had cash and cash equivalents of $189.5 million and long-term debt of $1.48 billion.
Outlook for 2026
Chord Energy’s production guidance for the full-year 2026 is in the band of 273.7 MBoE/D to 280.3 MBoE/D. For the first quarter, the company expects production in the range of 267.3- 272.7 MBoE/D. The company projects full-year oil production of 157-161 MBbl/D.
The company projects capital expenditures for the first quarter to be between $325 million and $355 million and for the full year in the range of $1,350-$1,450 million.
How Have Estimates Been Moving Since Then?
It turns out, estimates revision have trended upward during the past month.
The consensus estimate has shifted 85.06% due to these changes.
VGM Scores
Currently, Chord Energy Corporation has a subpar Growth Score of D, however its Momentum Score is doing a lot better with an A. Charting a somewhat similar path, the stock has a grade of B on the value side, putting it in the top 40% for this investment strategy.
Overall, the stock has an aggregate VGM Score of B. If you aren't focused on one strategy, this score is the one you should be interested in.
Outlook
Estimates have been trending upward for the stock, and the magnitude of these revisions looks promising. Interestingly, Chord Energy Corporation has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.
Performance of an Industry Player
Chord Energy Corporation belongs to the Zacks Oil and Gas - Exploration and Production - United States industry. Another stock from the same industry, Comstock Resources (CRK), has gained 19.1% over the past month. More than a month has passed since the company reported results for the quarter ended December 2025.
Comstock reported revenues of $789.81 million in the last reported quarter, representing a year-over-year change of +115.5%. EPS of $0.16 for the same period compares with $0.16 a year ago.
For the current quarter, Comstock is expected to post earnings of $0.16 per share, indicating a change of -11.1% from the year-ago quarter. The Zacks Consensus Estimate has changed -1.2% over the last 30 days.
The overall direction and magnitude of estimate revisions translate into a Zacks Rank #3 (Hold) for Comstock. Also, the stock has a VGM Score of D.
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This article originally published on Zacks Investment Research (zacks.com).