Ontario Teachers Pension Plan Board Sells 11,755 Shares of Chesapeake Energy Co. (NASDAQ:CHK)

Ontario Teachers Pension Plan Board decreased its position in shares of Chesapeake Energy Co. (NASDAQ:CHK) by 30.2% during the 1st quarter, Holdings Channel reports. The institutional investor owned 27,144 shares of the company’s stock after selling 11,755 shares during the quarter. Ontario Teachers Pension Plan Board’s holdings in Chesapeake Energy were worth $2,411,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently added to or reduced their stakes in the company. M&G Plc bought a new position in Chesapeake Energy during the 1st quarter worth $12,368,000. Tocqueville Asset Management L.P. bought a new position in Chesapeake Energy during the 1st quarter worth $1,973,000. Twin Tree Management LP increased its position in Chesapeake Energy by 174.8% during the 1st quarter. Twin Tree Management LP now owns 63,619 shares of the company’s stock worth $5,651,000 after buying an additional 148,635 shares during the period. Picton Mahoney Asset Management bought a new position in Chesapeake Energy during the 1st quarter worth $2,693,000. Finally, Lord Abbett & CO. LLC increased its position in shares of Chesapeake Energy by 13.4% in the first quarter. Lord Abbett & CO. LLC now owns 2,599,352 shares of the company’s stock worth $230,900,000 after purchasing an additional 307,814 shares during the period. Institutional investors own 97.93% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on CHK shares. Barclays started coverage on Chesapeake Energy in a research report on Wednesday, April 10th. They issued an “equal weight” rating and a $102.00 price target on the stock. KeyCorp started coverage on Chesapeake Energy in a research report on Thursday, June 27th. They issued a “sector weight” rating on the stock. Scotiabank raised their price target on Chesapeake Energy from $92.00 to $110.00 and gave the stock a “sector perform” rating in a research report on Thursday, April 11th. Stephens raised their price target on Chesapeake Energy from $116.00 to $117.00 and gave the stock an “equal weight” rating in a research report on Wednesday, May 1st. Finally, Mizuho raised their price target on Chesapeake Energy from $101.00 to $111.00 and gave the stock a “buy” rating in a research report on Monday, May 13th. One analyst has rated the stock with a sell rating, seven have given a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $106.62.

Chesapeake Energy Trading Up 0.4 %

Shares of CHK stock traded up $0.35 during mid-day trading on Monday, reaching $81.36. 1,493,591 shares of the stock traded hands, compared to its average volume of 1,864,873. The stock’s fifty day simple moving average is $86.22 and its two-hundred day simple moving average is $84.31. Chesapeake Energy Co. has a 1-year low of $72.84 and a 1-year high of $93.58. The company has a market cap of $10.66 billion, a price-to-earnings ratio of 10.98 and a beta of 0.47. 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 (NASDAQ:CHK) last announced its quarterly earnings results on Tuesday, April 30th. The company reported $0.56 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 for the quarter, compared to analyst estimates of $674.99 million. During the same period in the previous year, the business posted $1.87 earnings per share. On average, research analysts anticipate that Chesapeake Energy Co. will post 1.05 EPS for the current fiscal year.

Chesapeake Energy Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 5th. Stockholders of record on Thursday, May 16th were paid a dividend of $0.715 per share. This represents a $2.86 dividend on an annualized basis and a dividend yield of 3.52%. This is a positive change from Chesapeake Energy’s previous quarterly dividend of $0.58. The ex-dividend date was Wednesday, May 15th. Chesapeake Energy’s dividend payout ratio (DPR) is presently 31.00%.

Chesapeake Energy Company Profile

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.