Confluence Investment Management LLC Invests $623,000 in Chesapeake Energy Co. (NASDAQ:CHK)

Confluence Investment Management LLC bought a new position in Chesapeake Energy Co. (NASDAQ:CHK) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 7,014 shares of the company’s stock, valued at approximately $623,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CHK. Scout Investments Inc. bought a new stake in Chesapeake Energy during the 4th quarter valued at about $32,079,000. AQR Capital Management LLC grew its position in shares of Chesapeake Energy by 190.8% in the 3rd quarter. AQR Capital Management LLC now owns 620,462 shares of the company’s stock worth $53,502,000 after buying an additional 407,082 shares during the last quarter. Northern Trust Corp grew its position in shares of Chesapeake Energy by 57.9% in the 3rd quarter. Northern Trust Corp now owns 870,221 shares of the company’s stock worth $75,039,000 after buying an additional 319,021 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of Chesapeake Energy by 15.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,958,837 shares of the company’s stock worth $150,723,000 after buying an additional 265,853 shares during the last quarter. Finally, Vanguard Group Inc. grew its position in shares of Chesapeake Energy by 2.0% in the 3rd quarter. Vanguard Group Inc. now owns 12,852,961 shares of the company’s stock worth $1,108,311,000 after buying an additional 257,880 shares during the last quarter. Institutional investors own 97.93% of the company’s stock.

Chesapeake Energy Price Performance

Shares of Chesapeake Energy stock traded down $0.51 during trading hours on Tuesday, reaching $84.12. 598,500 shares of the company’s stock were exchanged, compared to its average volume of 1,887,102. The company has a quick ratio of 2.33, a current ratio of 2.33 and a debt-to-equity ratio of 0.19. Chesapeake Energy Co. has a 1 year low of $72.84 and a 1 year high of $93.58. The business has a fifty day moving average of $88.98 and a two-hundred day moving average of $83.22. The company has a market capitalization of $11.02 billion, a P/E ratio of 11.41 and a beta of 0.50.

Chesapeake Energy (NASDAQ:CHK) last announced its quarterly earnings data on Tuesday, April 30th. The company reported $0.56 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.08). Chesapeake Energy had a net margin of 16.42% and a return on equity of 4.87%. The firm had revenue of $1.08 billion during the quarter, compared to analysts’ expectations of $674.99 million. During the same period in the prior year, the company posted $1.87 EPS. As a group, research analysts predict that Chesapeake Energy Co. will post 0.98 earnings per share for the current fiscal year.

Chesapeake Energy Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 5th. Shareholders of record on Thursday, May 16th were given a $0.715 dividend. The ex-dividend date was Wednesday, May 15th. This represents a $2.86 dividend on an annualized basis and a yield of 3.40%. This is a boost from Chesapeake Energy’s previous quarterly dividend of $0.58. Chesapeake Energy’s dividend payout ratio is presently 31.00%.

Wall Street Analysts Forecast Growth

CHK has been the topic of several research analyst reports. Stephens boosted their target price on shares of Chesapeake Energy from $116.00 to $117.00 and gave the stock an “equal weight” rating in a research report on Wednesday, May 1st. KeyCorp started coverage on shares of Chesapeake Energy in a research report on Thursday, April 4th. They set a “sector weight” rating on the stock. UBS Group lifted their price objective on shares of Chesapeake Energy from $92.00 to $94.00 and gave the company a “neutral” rating in a research note on Wednesday, April 10th. Mizuho lifted their price objective on shares of Chesapeake Energy from $101.00 to $111.00 and gave the company a “buy” rating in a research note on Monday, May 13th. Finally, Scotiabank lifted their price objective on shares of Chesapeake Energy from $92.00 to $110.00 and gave the company a “sector perform” rating in a research note on Thursday, April 11th. One analyst has rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $106.67.

About Chesapeake Energy

Chesapeake Energy Corporation operates as an independent exploration and production company in the United States. It engages in acquisition, exploration, and development of properties to produce oil, natural gas, and natural gas liquids from underground reservoirs. The company holds interests in natural gas resource plays in the Marcellus Shale in the northern Appalachian Basin in Pennsylvania and the Haynesville/Bossier Shales in northwestern Louisiana.