Chesapeake Energy (NASDAQ:CHK) Upgraded at StockNews.com

StockNews.com upgraded shares of Chesapeake Energy (NASDAQ:CHK) to a sell rating in a research note issued to investors on Wednesday morning.

Several other research analysts have also recently weighed in on the company. Wolfe Research began coverage on Chesapeake Energy in a research note on Thursday, July 18th. They issued an outperform rating and a $110.00 price target for the company. KeyCorp assumed coverage on Chesapeake Energy in a research report on Thursday, June 27th. They issued a sector weight rating for the company. Mizuho raised their price target on shares of Chesapeake Energy from $101.00 to $111.00 and gave the company a buy rating in a report on Monday, May 13th. Truist Financial decreased their price objective on shares of Chesapeake Energy from $112.00 to $108.00 and set a buy rating for the company in a report on Monday, July 22nd. Finally, Stephens raised their target price on shares of Chesapeake Energy from $117.00 to $118.00 and gave the stock an equal weight rating in a report on Tuesday, July 30th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, Chesapeake Energy currently has an average rating of Hold and an average price target of $107.58.

Chesapeake Energy Stock Performance

Shares of Chesapeake Energy stock opened at $72.93 on Wednesday. The stock has a market cap of $9.56 billion, a price-to-earnings ratio of 9.83 and a beta of 0.47. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.16 and a quick ratio of 2.33. Chesapeake Energy has a 1 year low of $69.42 and a 1 year high of $93.58. The firm’s 50-day moving average is $80.09 and its 200 day moving average is $83.79.

Chesapeake Energy (NASDAQ:CHK) last issued its earnings results on Monday, July 29th. The company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.02 by ($0.01). The firm had revenue of $505.00 million during the quarter, compared to the consensus estimate of $822.54 million. Chesapeake Energy had a return on equity of 4.00% and a net margin of 8.68%. The company’s quarterly revenue was down 73.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.64 EPS. Sell-side analysts anticipate that Chesapeake Energy will post 1.34 EPS for the current fiscal year.

Chesapeake Energy Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 5th. Stockholders of record on Thursday, August 15th will be given a dividend of $0.575 per share. The ex-dividend date of this dividend is Thursday, August 15th. This represents a $2.30 dividend on an annualized basis and a dividend yield of 3.15%. Chesapeake Energy’s payout ratio is currently 31.00%.

Institutional Investors Weigh In On Chesapeake Energy

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CHK. Aurora Investment Counsel boosted its position in shares of Chesapeake Energy by 1.1% in the first quarter. Aurora Investment Counsel now owns 11,930 shares of the company’s stock worth $1,060,000 after purchasing an additional 135 shares during the period. Signaturefd LLC boosted its holdings in Chesapeake Energy by 16.5% in the 4th quarter. Signaturefd LLC now owns 1,250 shares of the company’s stock worth $96,000 after buying an additional 177 shares during the period. Lindbrook Capital LLC increased its stake in Chesapeake Energy by 90.8% in the 1st quarter. Lindbrook Capital LLC now owns 374 shares of the company’s stock worth $33,000 after buying an additional 178 shares in the last quarter. Clear Harbor Asset Management LLC raised its holdings in Chesapeake Energy by 1.3% during the second quarter. Clear Harbor Asset Management LLC now owns 13,895 shares of the company’s stock valued at $1,142,000 after acquiring an additional 180 shares during the period. Finally, Toronto Dominion Bank lifted its position in shares of Chesapeake Energy by 1.9% in the second quarter. Toronto Dominion Bank now owns 10,205 shares of the company’s stock valued at $839,000 after acquiring an additional 186 shares in the last quarter. 97.93% of the stock is owned by hedge funds and other institutional investors.

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.