No, you cannot recharge it in mid hunt, you need to go back to the adventurer guild and recharge it with the NPC (it costs 2 silver tokens per charge) Cledwyn and lasts 1hour. You could carry 2 of them so they can last 2hour hunt. but that's about it meanwhile the werewolf items can be recharged mid hunt with moonlight crystals
Edit: Pendulant does actually last 2 hours, the one that lasts only 1 hour is the enchanted sleep shawl