Federated Hermes Inc. Buys 10,075 Shares of Chord Energy Co. (NASDAQ:CHRD)

Federated Hermes Inc. raised its holdings in shares of Chord Energy Co. (NASDAQ:CHRD) by 35.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 38,517 shares of the company’s stock after acquiring an additional 10,075 shares during the period. Federated Hermes Inc. owned about 0.09% of Chord Energy worth $6,403,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Contravisory Investment Management Inc. boosted its stake in shares of Chord Energy by 48.9% during the fourth quarter. Contravisory Investment Management Inc. now owns 259 shares of the company’s stock valued at $43,000 after purchasing an additional 85 shares during the period. Viking Fund Management LLC increased its holdings in shares of Chord Energy by 40.0% during the fourth quarter. Viking Fund Management LLC now owns 350 shares of the company’s stock valued at $58,000 after acquiring an additional 100 shares in the last quarter. Fifth Third Bancorp increased its holdings in shares of Chord Energy by 15.4% during the third quarter. Fifth Third Bancorp now owns 526 shares of the company’s stock valued at $85,000 after acquiring an additional 70 shares in the last quarter. Daiwa Securities Group Inc. bought a new position in shares of Chord Energy during the fourth quarter valued at $183,000. Finally, Blue Trust Inc. increased its holdings in shares of Chord Energy by 25.7% during the fourth quarter. Blue Trust Inc. now owns 1,144 shares of the company’s stock valued at $185,000 after acquiring an additional 234 shares in the last quarter. 97.76% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CFO Michael H. Lou sold 3,000 shares of the business’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $165.00, for a total transaction of $495,000.00. Following the transaction, the chief financial officer now owns 128,209 shares of the company’s stock, valued at approximately $21,154,485. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.70% of the company’s stock.

Chord Energy Stock Performance

NASDAQ CHRD opened at $184.58 on Friday. The company has a market cap of $7.67 billion, a P/E ratio of 7.84 and a beta of 1.06. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.16 and a current ratio of 1.22. The business’s 50 day moving average price is $172.11 and its 200-day moving average price is $165.17. Chord Energy Co. has a fifty-two week low of $133.34 and a fifty-two week high of $190.23.

Chord Energy (NASDAQ:CHRD) last released its earnings results on Wednesday, February 21st. The company reported $5.25 earnings per share for the quarter, beating the consensus estimate of $5.04 by $0.21. The firm had revenue of $964.69 million for the quarter, compared to the consensus estimate of $891.67 million. Chord Energy had a return on equity of 16.35% and a net margin of 26.27%. Sell-side analysts predict that Chord Energy Co. will post 22.03 earnings per share for the current year.

Chord Energy Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 19th. Stockholders of record on Tuesday, March 5th were given a dividend of $3.25 per share. The ex-dividend date of this dividend was Monday, March 4th. This represents a $13.00 annualized dividend and a dividend yield of 7.04%. This is an increase from Chord Energy’s previous quarterly dividend of $1.25. Chord Energy’s payout ratio is currently 21.25%.

Wall Street Analysts Forecast Growth

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