nVerses Capital LLC Takes Position in Chesapeake Energy Co. (NASDAQ:CHK)

nVerses Capital LLC acquired a new stake in Chesapeake Energy Co. (NASDAQ:CHK) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 5,700 shares of the company’s stock, valued at approximately $468,000.

Several other institutional investors have also added to or reduced their stakes in the stock. Panagora Asset Management Inc. increased its holdings in Chesapeake Energy by 112.6% during the 4th quarter. Panagora Asset Management Inc. now owns 39,474 shares of the company’s stock worth $3,037,000 after purchasing an additional 20,910 shares in the last quarter. Benjamin F. Edwards & Company Inc. grew its holdings in Chesapeake Energy by 1,207.7% during the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 680 shares of the company’s stock valued at $52,000 after purchasing an additional 628 shares during the period. Charles Schwab Investment Management Inc. increased its position in Chesapeake Energy by 1.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 640,285 shares of the company’s stock worth $49,264,000 after buying an additional 11,133 shares during the last quarter. Quest Partners LLC bought a new stake in shares of Chesapeake Energy in the fourth quarter valued at $975,000. Finally, Wealth Enhancement Advisory Services LLC grew its stake in shares of Chesapeake Energy by 705.4% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 29,229 shares of the company’s stock worth $2,402,000 after acquiring an additional 25,600 shares during the period. 97.93% of the stock is currently owned by institutional investors.

Chesapeake Energy Stock Up 0.7 %

NASDAQ:CHK traded up $0.50 during mid-day trading on Friday, hitting $74.49. 1,670,173 shares of the company’s stock were exchanged, compared to its average volume of 1,539,532. Chesapeake Energy Co. has a one year low of $69.42 and a one year high of $93.58. The business has a fifty day moving average price of $77.64 and a 200 day moving average price of $83.55. The company has a market cap of $9.76 billion, a PE ratio of 10.04 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 2.16.

Chesapeake Energy (NASDAQ:CHK) last posted its quarterly 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 company had revenue of $505.00 million during the quarter, compared to analysts’ expectations of $822.54 million. Chesapeake Energy had a return on equity of 4.00% and a net margin of 8.68%. Chesapeake Energy’s revenue for the quarter was down 73.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.64 EPS. Equities analysts predict that Chesapeake Energy Co. will post 1.32 EPS for the current year.

Chesapeake Energy Cuts Dividend

The business also recently declared 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 dividend on an annualized basis and a dividend yield of 3.09%. The ex-dividend date is Thursday, August 15th. Chesapeake Energy’s payout ratio is presently 31.00%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on CHK shares. Truist Financial reduced their price objective on shares of Chesapeake Energy from $112.00 to $108.00 and set a “buy” rating for the company in a research note on Monday, July 22nd. Stephens boosted their price objective on Chesapeake Energy from $117.00 to $118.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 30th. Wolfe Research initiated coverage on Chesapeake Energy in a research note on Thursday, July 18th. They issued an “outperform” rating and a $110.00 target price for the company. StockNews.com upgraded Chesapeake Energy to a “sell” rating in a research report on Wednesday, August 14th. Finally, Mizuho raised their price objective on shares of Chesapeake Energy from $101.00 to $111.00 and gave the company a “buy” rating in a research report on Monday, May 13th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, Chesapeake Energy presently has a consensus rating of “Hold” and an average target price of $107.17.

Chesapeake Energy 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.