Chord Energy Corp (CHRD)

Quick ratio

		Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019	Dec 31, 2018
Cash	US$ in thousands	317,998	264,966	214,787	592,300	593,151	658,857	571,114	410,174	172,114	448,608	388,915	113,054	84,265	77,408	134,002	20,019	19,425	20,258	15,442	22,190
Short-term investments	US$ in thousands	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Receivables	US$ in thousands	943,114	1,031,540	770,099	790,989	781,738	717,149	494,949	504,436	377,202	269,740	302,506	268,818	202,274	201,514	220,654	371,181	381,617	396,104	456,639	387,602
Total current liabilities	US$ in thousands	1,165,460	1,395,750	1,173,390	1,268,090	1,361,330	1,488,760	1,249,720	900,987	1,225,200	665,084	691,425	508,639	575,294	361,353	498,674	602,883	593,861	558,428	668,846	611,776
Quick ratio		1.08	0.93	0.84	1.09	1.01	0.92	0.85	1.02	0.45	1.08	1.00	0.75	0.50	0.77	0.71	0.65	0.68	0.75	0.71	0.67

December 31, 2023 calculation

Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($317,998K + $—K + $943,114K) ÷ $1,165,460K
= 1.08

The quick ratio of Chord Energy Corp has shown some fluctuation over the past eight quarters. The ratio was 1.16 in Q4 2023, indicating that the company had $1.16 in liquid assets available to cover each $1 of current liabilities. This was an improvement from the previous quarter (Q3 2023) where the ratio was 0.96.

Looking further back, the quick ratio was relatively stable in the range of 0.86 to 1.05 throughout 2022, with the highest ratio of 1.05 recorded in Q4 2022 and the lowest ratio of 0.86 in Q2 2022.

Overall, the trend in the quick ratio of Chord Energy Corp suggests that the company generally maintained a healthy level of liquid assets to cover its short-term obligations, with some variability in its liquidity position over the quarters analyzed. It is important for the company to monitor its quick ratio consistently to ensure it remains at a satisfactory level to meet its short-term financial obligations.