Federated Hermes Inc. Boosts Stock Position in Chord Energy Co. (NASDAQ:CHRD)

Federated Hermes Inc. lifted its position in Chord Energy Co. (NASDAQ:CHRD) by 35.4% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 38,517 shares of the company’s stock after buying an additional 10,075 shares during the quarter. Federated Hermes Inc.’s holdings in Chord Energy were worth $6,403,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. FMR LLC boosted its position in shares of Chord Energy by 12.9% during the 3rd quarter. FMR LLC now owns 3,185,243 shares of the company’s stock worth $516,232,000 after acquiring an additional 364,673 shares in the last quarter. American Century Companies Inc. raised its stake in Chord Energy by 158.5% during the 3rd quarter. American Century Companies Inc. now owns 483,447 shares of the company’s stock valued at $78,352,000 after acquiring an additional 296,443 shares during the last quarter. AQR Capital Management LLC raised its stake in shares of Chord Energy by 119.3% during the 3rd quarter. AQR Capital Management LLC now owns 368,557 shares of the company’s stock worth $59,732,000 after buying an additional 200,502 shares in the last quarter. Kennedy Capital Management LLC raised its stake in shares of Chord Energy by 200.5% during the 3rd quarter. Kennedy Capital Management LLC now owns 107,331 shares of the company’s stock worth $17,395,000 after buying an additional 71,613 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC raised its stake in shares of Chord Energy by 12.3% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 491,737 shares of the company’s stock worth $81,742,000 after buying an additional 53,992 shares in the last quarter. Hedge funds and other institutional investors own 97.76% of the company’s stock.

Chord Energy Trading Up 0.5 %

NASDAQ:CHRD opened at $184.58 on Friday. Chord Energy Co. has a 12 month low of $133.34 and a 12 month high of $190.23. The firm has a market capitalization of $7.67 billion, a PE ratio of 7.84 and a beta of 1.06. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.22 and a quick ratio of 1.16. The business’s 50-day moving average is $172.11 and its two-hundred day moving average is $165.17.

Chord Energy (NASDAQ:CHRD) last announced its earnings results on Wednesday, February 21st. The company reported $5.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.04 by $0.21. The business had revenue of $964.69 million for the quarter, compared to analyst estimates of $891.67 million. Chord Energy had a return on equity of 16.35% and a net margin of 26.27%. Research analysts predict that Chord Energy Co. will post 22.03 earnings per share for the current fiscal year.

Chord Energy Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 19th. Investors of record on Tuesday, March 5th were paid a $3.25 dividend. This represents a $13.00 dividend on an annualized basis and a yield of 7.04%. This is an increase from Chord Energy’s previous quarterly dividend of $1.25. The ex-dividend date was Monday, March 4th. Chord Energy’s dividend payout ratio (DPR) is 21.25%.

Insider Buying and Selling

In related news, CFO Michael H. Lou sold 3,000 shares of Chord Energy stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $165.00, for a total value of $495,000.00. Following the completion of the transaction, the chief financial officer now directly owns 128,209 shares in the company, valued at $21,154,485. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.70% of the company’s stock.

Wall Street Analyst Weigh In

CHRD has been the subject of several research analyst reports. Stifel Nicolaus raised their price objective on Chord Energy from $178.00 to $211.00 and gave the company a “buy” rating in a research note on Tuesday, February 27th. Truist Financial lowered their target price on Chord Energy from $229.00 to $224.00 and set a “buy” rating on the stock in a report on Friday, April 5th. Bank of America cut Chord Energy from a “buy” rating to an “underperform” rating and decreased their price objective for the stock from $177.00 to $165.00 in a report on Friday, January 5th. Mizuho raised their price objective on Chord Energy from $189.00 to $195.00 and gave the stock a “buy” rating in a report on Thursday, March 14th. Finally, Piper Sandler lifted their target price on Chord Energy from $219.00 to $230.00 and gave the company an “overweight” rating in a report on Friday, April 19th. One analyst has rated the stock with a sell rating, one has issued a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $191.50.

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.