PNC Financial Services Group Inc. Trims Stock Holdings in Chesapeake Energy Co. (NASDAQ:CHK)

PNC Financial Services Group Inc. lowered its holdings in Chesapeake Energy Co. (NASDAQ:CHK) by 57.6% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 3,042 shares of the company’s stock after selling 4,139 shares during the period. PNC Financial Services Group Inc.’s holdings in Chesapeake Energy were worth $234,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of CHK. Vanguard Group Inc. lifted its holdings in Chesapeake Energy by 2.0% during 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. Massachusetts Financial Services Co. MA raised its position in shares of Chesapeake Energy by 5.2% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 4,317,920 shares of the company’s stock worth $332,221,000 after purchasing an additional 213,235 shares during the period. Dimensional Fund Advisors LP raised its position in shares of Chesapeake Energy by 15.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,958,837 shares of the company’s stock worth $150,723,000 after purchasing an additional 265,853 shares during the period. Cannell & Co. raised its position in shares of Chesapeake Energy by 7.6% during the 4th quarter. Cannell & Co. now owns 824,782 shares of the company’s stock worth $63,459,000 after purchasing an additional 58,253 shares during the period. Finally, Thompson Siegel & Walmsley LLC raised its position in shares of Chesapeake Energy by 13.0% during the 4th quarter. Thompson Siegel & Walmsley LLC now owns 809,963 shares of the company’s stock worth $62,319,000 after purchasing an additional 93,162 shares during the period. Hedge funds and other institutional investors own 97.93% of the company’s stock.

Wall Street Analysts Forecast Growth

CHK has been the topic of a number of research reports. Benchmark dropped their price target on Chesapeake Energy from $107.00 to $93.00 and set a “buy” rating on the stock in a research report on Thursday, May 2nd. Scotiabank increased 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. UBS Group increased their price target on Chesapeake Energy from $92.00 to $94.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 10th. Mizuho raised their target price on Chesapeake Energy from $101.00 to $111.00 and gave the company a “buy” rating in a research report on Monday, May 13th. Finally, Jefferies Financial Group lowered their target price on Chesapeake Energy from $118.00 to $115.00 and set a “buy” rating on the stock in a research report on Wednesday, April 10th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $106.67.

Chesapeake Energy Stock Up 0.4 %

Shares of CHK stock opened at $82.50 on Tuesday. Chesapeake Energy Co. has a 1 year low of $72.84 and a 1 year high of $93.58. The stock has a market cap of $10.81 billion, a PE ratio of 11.12 and a beta of 0.47. The business’s fifty day moving average is $88.00 and its 200-day moving average is $83.74. The company has a debt-to-equity ratio of 0.19, a quick ratio of 2.33 and a current ratio of 2.33.

Chesapeake Energy (NASDAQ:CHK) last issued its quarterly earnings results on Tuesday, April 30th. The company reported $0.56 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.64 by ($0.08). The firm had revenue of $1.08 billion for the quarter, compared to analyst estimates of $674.99 million. Chesapeake Energy had a net margin of 16.42% and a return on equity of 4.87%. During the same quarter last year, the business posted $1.87 earnings per share. Equities analysts expect that Chesapeake Energy Co. will post 0.98 earnings per share for the current fiscal year.

Chesapeake Energy Increases Dividend

The business also recently disclosed 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. The ex-dividend date of this dividend was Wednesday, May 15th. This is a positive change from Chesapeake Energy’s previous quarterly dividend of $0.58. This represents a $2.86 annualized dividend and a dividend yield of 3.47%. Chesapeake Energy’s dividend payout ratio (DPR) is currently 31.00%.

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.