Federated Hermes Inc. Trims Stake in Chord Energy Co. (NASDAQ:CHRD)

Federated Hermes Inc. cut its stake in Chord Energy Co. (NASDAQ:CHRD) by 2.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 6,210 shares of the company’s stock after selling 148 shares during the period. Federated Hermes Inc.’s holdings in Chord Energy were worth $726,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of CHRD. Victory Capital Management Inc. raised its position in shares of Chord Energy by 27.6% in the 4th quarter. Victory Capital Management Inc. now owns 2,864,456 shares of the company’s stock worth $334,912,000 after acquiring an additional 619,021 shares in the last quarter. Boston Partners raised its holdings in Chord Energy by 5.6% in the fourth quarter. Boston Partners now owns 2,186,483 shares of the company’s stock worth $255,684,000 after purchasing an additional 115,215 shares in the last quarter. Pacer Advisors Inc. lifted its position in Chord Energy by 50.4% during the fourth quarter. Pacer Advisors Inc. now owns 1,872,156 shares of the company’s stock valued at $218,892,000 after buying an additional 627,122 shares during the period. American Century Companies Inc. boosted its holdings in shares of Chord Energy by 15.0% during the 4th quarter. American Century Companies Inc. now owns 1,116,073 shares of the company’s stock valued at $130,491,000 after buying an additional 145,627 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC grew its position in shares of Chord Energy by 30.1% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 744,309 shares of the company’s stock worth $88,459,000 after buying an additional 172,196 shares during the period. 97.76% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on CHRD shares. Piper Sandler lowered their price target on shares of Chord Energy from $193.00 to $184.00 and set an “overweight” rating for the company in a research report on Thursday, March 6th. Citigroup lowered their target price on shares of Chord Energy from $135.00 to $120.00 and set a “buy” rating for the company in a report on Monday, April 7th. Bank of America cut their price target on Chord Energy from $138.00 to $125.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 1st. Royal Bank of Canada lowered their price objective on Chord Energy from $165.00 to $145.00 and set an “outperform” rating for the company in a research note on Friday, April 11th. Finally, Wolfe Research raised Chord Energy from a “peer perform” rating to an “outperform” rating and set a $155.00 target price on the stock in a research note on Friday, January 3rd. One research analyst has rated the stock with a sell rating, two have issued a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $157.00.

Chord Energy Stock Performance

Shares of CHRD stock opened at $90.84 on Thursday. The company has a quick ratio of 0.89, a current ratio of 0.93 and a debt-to-equity ratio of 0.10. The company has a 50 day moving average price of $105.26 and a 200-day moving average price of $117.45. Chord Energy Co. has a 52 week low of $79.83 and a 52 week high of $188.02. The firm has a market capitalization of $5.40 billion, a PE ratio of 4.68, a P/E/G ratio of 5.83 and a beta of 0.96.

Chord Energy Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 26th. Shareholders of record on Tuesday, March 11th were paid a dividend of $1.30 per share. The ex-dividend date was Tuesday, March 11th. This is a positive change from Chord Energy’s previous quarterly dividend of $1.25. This represents a $5.20 dividend on an annualized basis and a yield of 5.72%. Chord Energy’s payout ratio is currently 32.62%.

About Chord Energy

Chord Energy Corporation operates as an independent exploration and production company in the United States. It acquires, explores, develops, and produces crude oil, natural gas, and natural gas liquids in the Williston Basin. The company sells its products to refiners, marketers, and other purchasers that have access to nearby pipeline and rail facilities.