Chesapeake Energy (NASDAQ:CHK) PT Raised to $118.00

Chesapeake Energy (NASDAQ:CHK) had its target price boosted by Stephens from $117.00 to $118.00 in a report published on Tuesday morning, Benzinga reports. They currently have an equal weight rating on the stock.

A number of other research firms have also weighed in on CHK. Wolfe Research initiated coverage on Chesapeake Energy in a report on Thursday, July 18th. They set an outperform rating and a $110.00 target price on the stock. Barclays initiated coverage on Chesapeake Energy in a report on Wednesday, April 10th. They set an equal weight rating and a $102.00 target price on the stock. Benchmark decreased their target price on Chesapeake Energy from $107.00 to $93.00 and set a buy rating on the stock in a report on Thursday, May 2nd. UBS Group boosted their target price on Chesapeake Energy from $92.00 to $94.00 and gave the stock a neutral rating in a report on Wednesday, April 10th. Finally, KeyCorp started coverage on Chesapeake Energy in a report on Thursday, June 27th. They issued a sector weight rating on the stock. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of Hold and an average price target of $106.69.

Chesapeake Energy Stock Down 3.5 %

NASDAQ:CHK opened at $72.43 on Tuesday. The firm has a market capitalization of $9.51 billion, a price-to-earnings ratio of 9.76 and a beta of 0.47. Chesapeake Energy has a twelve month low of $71.47 and a twelve month high of $93.58. The stock’s 50 day moving average price is $83.56 and its two-hundred day moving average price is $84.07. The company has a quick ratio of 2.33, a current ratio of 2.16 and a debt-to-equity ratio of 0.19.

Chesapeake Energy (NASDAQ:CHK) last posted its quarterly earnings results on Monday, July 29th. The company reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.02 by ($0.01). The company had revenue of $505.00 million for the quarter, compared to analyst estimates of $822.54 million. Chesapeake Energy had a return on equity of 4.00% and a net margin of 8.68%. The firm’s revenue for the quarter was down 73.3% compared to the same quarter last year. During the same period last year, the firm earned $0.64 EPS. Equities research analysts expect that Chesapeake Energy will post 1.32 earnings per share for the current fiscal year.

Chesapeake Energy Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 5th. Stockholders of record on Thursday, August 15th will be issued a dividend of $0.575 per share. This represents a $2.30 annualized dividend and a dividend yield of 3.18%. The ex-dividend date is Thursday, August 15th. Chesapeake Energy’s dividend payout ratio (DPR) is currently 31.00%.

Institutional Trading of Chesapeake Energy

Several large investors have recently modified their holdings of CHK. SG Americas Securities LLC grew its holdings in shares of Chesapeake Energy by 84.1% during the 4th quarter. SG Americas Securities LLC now owns 4,417 shares of the company’s stock worth $340,000 after purchasing an additional 2,018 shares in the last quarter. Allworth Financial LP grew its holdings in shares of Chesapeake Energy by 160.7% during the 4th quarter. Allworth Financial LP now owns 730 shares of the company’s stock worth $56,000 after purchasing an additional 450 shares in the last quarter. Stratos Wealth Partners LTD. grew its holdings in shares of Chesapeake Energy by 4.3% during the 4th quarter. Stratos Wealth Partners LTD. now owns 3,761 shares of the company’s stock worth $289,000 after purchasing an additional 154 shares in the last quarter. DekaBank Deutsche Girozentrale boosted its stake in Chesapeake Energy by 1.6% in the fourth quarter. DekaBank Deutsche Girozentrale now owns 9,439 shares of the company’s stock valued at $716,000 after buying an additional 151 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. boosted its stake in Chesapeake Energy by 1.5% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 188,830 shares of the company’s stock valued at $14,529,000 after buying an additional 2,820 shares in the last quarter. 97.93% of the stock is owned by institutional investors and hedge funds.

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.