Federated Hermes Inc. Has $726,000 Stock Holdings in Chord Energy Co. (NASDAQ:CHRD)

Federated Hermes Inc. lowered its stake in Chord Energy Co. (NASDAQ:CHRD) by 2.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,210 shares of the company’s stock after selling 148 shares during the quarter. Federated Hermes Inc.’s holdings in Chord Energy were worth $726,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Pacer Advisors Inc. grew its holdings in Chord Energy by 50.4% during the 4th quarter. Pacer Advisors Inc. now owns 1,872,156 shares of the company’s stock worth $218,892,000 after acquiring an additional 627,122 shares during the last quarter. Victory Capital Management Inc. grew its position in Chord Energy by 27.6% in the 4th quarter. Victory Capital Management Inc. now owns 2,864,456 shares of the company’s stock valued at $334,912,000 after purchasing an additional 619,021 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of Chord Energy in the 4th quarter worth about $29,984,000. Allspring Global Investments Holdings LLC lifted its holdings in shares of Chord Energy by 30.1% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 744,309 shares of the company’s stock valued at $88,459,000 after purchasing an additional 172,196 shares in the last quarter. Finally, American Century Companies Inc. boosted its holdings in Chord Energy by 15.0% during the 4th quarter. American Century Companies Inc. now owns 1,116,073 shares of the company’s stock worth $130,491,000 after acquiring an additional 145,627 shares during the last quarter. Institutional investors and hedge funds own 97.76% of the company’s stock.

Analyst Upgrades and Downgrades

CHRD has been the subject of a number of research analyst reports. Royal Bank of Canada decreased their price target on Chord Energy from $165.00 to $145.00 and set an “outperform” rating for the company in a research report on Friday, April 11th. Wells Fargo & Company lowered their target price on shares of Chord Energy from $166.00 to $158.00 and set an “overweight” rating on the stock in a report on Tuesday. Morgan Stanley set a $139.00 price objective on shares of Chord Energy and gave the company a “cautious” rating in a research report on Wednesday, March 26th. Wolfe Research raised shares of Chord Energy from a “peer perform” rating to an “outperform” rating and set a $155.00 price target for the company in a research note on Friday, January 3rd. Finally, Piper Sandler reduced their price target on shares of Chord Energy from $193.00 to $184.00 and set an “overweight” rating on the stock in a research report on Thursday, March 6th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $157.00.

Chord Energy Stock Performance

Chord Energy stock opened at $90.84 on Thursday. Chord Energy Co. has a 1-year low of $79.83 and a 1-year high of $188.02. The firm has a market cap of $5.40 billion, a P/E ratio of 4.68, a P/E/G ratio of 5.83 and a beta of 0.96. The company has a current ratio of 0.93, a quick ratio of 0.89 and a debt-to-equity ratio of 0.10. The firm has a 50-day moving average of $105.26 and a 200-day moving average of $117.45.

Chord Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 26th. Stockholders of record on Tuesday, March 11th were given a $1.30 dividend. 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 dividend yield of 5.72%. The ex-dividend date of this dividend was Tuesday, March 11th. Chord Energy’s dividend payout ratio (DPR) is currently 32.62%.

Chord Energy Company Profile

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.