Chord Energy Corporation (CHRD) Up 11.7% Since Last Earnings Report: Can It Continue?

It has been about a month since the last earnings report for Chord Energy Corporation (CHRD). Shares have added about 11.7% 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? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at its most recent earnings report in order to get a better handle on the important drivers.

Chord Q2 Earnings Miss, Revenues Beat on Higher Oil Output & Price

Chord reported second-quarter 2026 adjusted earnings of $6.44 per share, up 259.8% from $1.79 a year ago. The bottom line missed the Zacks Consensus Estimate of $6.68 by 3.6%.

Total quarterly revenues rose 57.2% to $1.5 billion from $950.3 million. The top line beat the Zacks Consensus Estimate of $1.4 billion by 4.2%.

The strong quarterly revenues were driven by higher oil output, and stronger oil and natural gas liquids (NGL) realizations.

Total production reached 286.4 thousand barrels of oil equivalent per day (MBoe/d).

CHRD's Oil Output Moves Higher

CHRD's oil production was 165.4 thousand barrels per day (MBbl/d), up 5.6% from 156.7 MBbl/d in the year-ago quarter. Oil represented 57.8% of total production, compared with 55.6% a year earlier.

Natural gas liquids production fell 2.0% to 53 thousand barrels per day (MBbl/d) from 54.1 MBbl/d recorded in the prior-year quarter. Natural gas production declined 4.2% to 408 million cubic feet per day (MMcf/d) from 425.9 MMcf/d in the second quarter of 2025. The company had 66 gross and 47 net operated wells turned in line during the quarter.

Chord Benefits From Stronger Realizations

Chord's average oil sales price, excluding realized derivatives, increased 52.5% to $93.99 per barrel from $61.62 per barrel a year earlier. The average NGL sales price, excluding realized derivatives, increased 59.5% to $9.25 per barrel from $5.80 per barrel in the year-ago quarter.

Crude oil revenues rose to $1.42 billion, while NGL revenues increased to $44.6 million and natural gas revenues fell to $34.7 million.

CHRD's Cost Picture Shows Mixed Trends

Lease operating expense (LOE) increased to $267.8 million from $257.0 million a year ago, while LOE per barrel of oil equivalent rose to $10.28 from $10.02. Production taxes rose to $125.9 million from $69.0 million.

Gathering, processing and transportation expense declined to $62.8 million from $74.1 million. Depreciation, depletion and amortization increased to $409.2 million from $377.0 million. Total select operating expenses were $865.7 million, up from $777.1 million.

CHRD's Cash Flow Supports Higher Capital Returns

Net cash provided by operating activities reached $1.12 billion, up from $419.8 million a year ago. Adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) rose to $923.5 million from $547.2 million, while adjusted free cash flow increased to $413.4 million from $140.8 million.

CHRD returned 54% of adjusted free cash flow to shareholders in the quarter. It repurchased 1,104,346 shares for $147.4 million and declared a base dividend of $1.30 per share.

Chord’s Balance Sheet

As of June 30, 2026, Chord had cash and cash equivalents of $611.6 million, while total debt was $1.50 billion and liquidity was $2.58 billion.

CHRD Keeps 2026 Capital Plan Steady

Chord maintained its full-year 2026 oil-volume midpoint at 161 MBbl/d, with guidance to be in the range of 160.2-161.8 MBbl/d. Total production is projected to be in the range of 278.2-281.8 MBoe/d, while capital expenditures are expected to be between $1.36 billion and $1.44 billion.

For the third quarter, oil volumes are expected to be in the range of 161.5-164.5 Mbo/d and capital spending between $360 million and $390 million. Chord raised the full-year LOE midpoint to $10.30 per barrel of oil equivalent (Boe), reflecting additional production-enhancement initiatives, higher workover costs and higher non-operated LOE. The company expects about $3.0 billion of adjusted EBITDA and $1.3 billion of adjusted free cash flow for 2026, assuming $75 WTI and $3 Henry Hub in the second half.

How Have Estimates Been Moving Since Then?

Since the earnings release, investors have witnessed a upward trend in estimates revision.

The consensus estimate has shifted 18.26% due to these changes.

VGM Scores

Currently, Chord Energy Corporation has a strong Growth Score of A, though it is lagging a lot on the Momentum Score front with a C. However, the stock has a score of A on the value side, putting it in the top quintile for this investment strategy.

Overall, the stock has an aggregate VGM Score of A. 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. Notably, 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 is part of the Zacks Oil and Gas - Exploration and Production - United States industry. Over the past month, EOG Resources (EOG), a stock from the same industry, has gained 7.2%. The company reported its results for the quarter ended June 2026 more than a month ago.

EOG Resources reported revenues of $8.62 billion in the last reported quarter, representing a year-over-year change of +57.4%. EPS of $5.07 for the same period compares with $2.32 a year ago.

EOG Resources is expected to post earnings of $4.31 per share for the current quarter, representing a year-over-year change of +59%. Over the last 30 days, the Zacks Consensus Estimate has changed +6.4%.

The overall direction and magnitude of estimate revisions translate into a Zacks Rank #3 (Hold) for EOG Resources. Also, the stock has a VGM Score of A.

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This article originally published on Zacks Investment Research (zacks.com).

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