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

Federated Hermes Inc. decreased its position in shares of Chord Energy Co. (NASDAQ:CHRD) by 24.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 30,755 shares of the company’s stock after selling 9,924 shares during the period. Federated Hermes Inc. owned approximately 0.07% of Chord Energy worth $5,157,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. Principal Securities Inc. purchased a new position in Chord Energy during the 4th quarter valued at approximately $101,000. Avantax Advisory Services Inc. grew its holdings in shares of Chord Energy by 35.8% in the fourth quarter. Avantax Advisory Services Inc. now owns 2,904 shares of the company’s stock valued at $483,000 after purchasing an additional 766 shares in the last quarter. Janney Montgomery Scott LLC increased its position in Chord Energy by 2.8% in the fourth quarter. Janney Montgomery Scott LLC now owns 6,531 shares of the company’s stock worth $1,086,000 after purchasing an additional 175 shares during the last quarter. Quadrant Capital Group LLC raised its stake in Chord Energy by 94.3% during the fourth quarter. Quadrant Capital Group LLC now owns 406 shares of the company’s stock valued at $67,000 after purchasing an additional 197 shares in the last quarter. Finally, Assetmark Inc. lifted its position in Chord Energy by 23.4% during the fourth quarter. Assetmark Inc. now owns 1,206 shares of the company’s stock valued at $200,000 after purchasing an additional 229 shares during the last quarter. 97.76% of the stock is owned by institutional investors.

Chord Energy Trading Down 0.7 %

CHRD stock opened at $135.95 on Thursday. The company has a market capitalization of $5.67 billion, a PE ratio of 6.38, a P/E/G ratio of 4.48 and a beta of 0.99. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.96 and a quick ratio of 0.91. Chord Energy Co. has a 12 month low of $129.75 and a 12 month high of $190.23. The firm’s 50-day moving average is $154.20 and its 200 day moving average is $167.53.

Chord Energy (NASDAQ:CHRD) last issued its earnings results on Wednesday, August 7th. The company reported $4.69 EPS for the quarter, missing analysts’ consensus estimates of $5.00 by ($0.31). The company had revenue of $902.70 million for the quarter, compared to analysts’ expectations of $982.43 million. Chord Energy had a return on equity of 15.06% and a net margin of 20.83%. The business’s revenue was up 29.8% compared to the same quarter last year. During the same period last year, the business posted $3.65 earnings per share. On average, research analysts anticipate that Chord Energy Co. will post 19.67 EPS for the current year.

Chord Energy Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 5th. Shareholders of record on Wednesday, August 21st were issued a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a yield of 3.68%. The ex-dividend date was Wednesday, August 21st. Chord Energy’s payout ratio is 23.46%.

Wall Street Analyst Weigh In

A number of brokerages recently commented on CHRD. Piper Sandler lowered their price target on shares of Chord Energy from $234.00 to $206.00 and set an “overweight” rating for the company in a report on Thursday, August 15th. Wolfe Research assumed coverage on Chord Energy in a research note on Thursday, July 18th. They issued a “peer perform” rating for the company. Royal Bank of Canada reiterated an “outperform” rating and issued a $200.00 target price on shares of Chord Energy in a report on Thursday, September 5th. Jefferies Financial Group initiated coverage on Chord Energy in a report on Thursday, September 5th. They set a “hold” rating and a $160.00 price target on the stock. Finally, Citigroup dropped their price objective on shares of Chord Energy from $195.00 to $180.00 and set a “buy” rating for the company in a research note on Monday, August 12th. Two research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $202.10.

Insider Buying and Selling at Chord Energy

In other Chord Energy news, Director Samantha Holroyd purchased 500 shares of the stock in a transaction dated Friday, August 23rd. The stock was purchased at an average price of $149.51 per share, with a total value of $74,755.00. Following the transaction, the director now owns 14,417 shares of the company’s stock, valued at $2,155,485.67. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 0.70% of the company’s stock.

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.