Victory Capital Management Inc. Raises Stock Position in Chesapeake Energy Co. (NASDAQ:CHK)

Victory Capital Management Inc. raised its position in Chesapeake Energy Co. (NASDAQ:CHK) by 5.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 141,881 shares of the company’s stock after purchasing an additional 6,830 shares during the quarter. Victory Capital Management Inc. owned about 0.11% of Chesapeake Energy worth $11,661,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Principal Securities Inc. acquired a new stake in shares of Chesapeake Energy during the 4th quarter worth about $28,000. Lindbrook Capital LLC boosted its stake in Chesapeake Energy by 90.8% during the first quarter. Lindbrook Capital LLC now owns 374 shares of the company’s stock worth $33,000 after buying an additional 178 shares during the period. Allspring Global Investments Holdings LLC acquired a new stake in shares of Chesapeake Energy during the first quarter valued at about $37,000. BOKF NA purchased a new stake in shares of Chesapeake Energy in the 1st quarter valued at approximately $45,000. Finally, GAMMA Investing LLC lifted its holdings in shares of Chesapeake Energy by 75.6% in the 2nd quarter. GAMMA Investing LLC now owns 569 shares of the company’s stock worth $47,000 after acquiring an additional 245 shares during the last quarter. Hedge funds and other institutional investors own 97.93% of the company’s stock.

Chesapeake Energy Stock Performance

NASDAQ:CHK opened at $73.22 on Friday. Chesapeake Energy Co. has a 12 month low of $69.12 and a 12 month high of $93.58. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.16 and a quick ratio of 2.16. The firm has a market capitalization of $9.61 billion, a PE ratio of 9.87 and a beta of 0.46. The business’s fifty day moving average price is $75.40 and its 200 day moving average price is $82.97.

Chesapeake Energy (NASDAQ:CHK) last issued its 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 business 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%. Chesapeake Energy’s revenue was down 73.3% on a year-over-year basis. During the same period last year, the business posted $0.64 EPS. On average, sell-side analysts anticipate that Chesapeake Energy Co. will post 1.32 earnings per share for the current fiscal year.

Chesapeake Energy Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 5th. Stockholders of record on Thursday, August 15th were given a dividend of $0.575 per share. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $2.30 annualized dividend and a dividend yield of 3.14%. Chesapeake Energy’s dividend payout ratio is presently 31.00%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on CHK. StockNews.com upgraded shares of Chesapeake Energy to a “sell” rating in a report on Wednesday, August 14th. Wolfe Research assumed coverage on Chesapeake Energy in a research note on Thursday, July 18th. They issued an “outperform” rating and a $110.00 price objective for the company. Scotiabank decreased their target price on Chesapeake Energy from $110.00 to $105.00 and set a “sector perform” rating on the stock in a research note on Tuesday, August 20th. Truist Financial lowered their target price on Chesapeake Energy from $112.00 to $108.00 and set a “buy” rating for the company in a report on Monday, July 22nd. Finally, KeyCorp assumed coverage on shares of Chesapeake Energy in a research note on Thursday, June 27th. They set a “sector weight” rating on the stock. One investment analyst has rated the stock with a sell rating, six have given a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target 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.