Acadian Asset Management LLC Invests $861,000 in Chesapeake Energy Co. (NASDAQ:CHK)

Acadian Asset Management LLC purchased a new stake in Chesapeake Energy Co. (NASDAQ:CHK) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 10,484 shares of the company’s stock, valued at approximately $861,000.

Several other hedge funds have also added to or reduced their stakes in the company. Aurora Investment Counsel lifted its position in Chesapeake Energy by 1.1% during 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. Lindbrook Capital LLC boosted its holdings in Chesapeake Energy by 90.8% in the first quarter. Lindbrook Capital LLC now owns 374 shares of the company’s stock valued at $33,000 after acquiring an additional 178 shares during the last quarter. Clear Harbor Asset Management LLC boosted its position 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 last quarter. Abich Financial Wealth Management LLC boosted its position in Chesapeake Energy by 32.4% during the first quarter. Abich Financial Wealth Management LLC now owns 900 shares of the company’s stock valued at $80,000 after acquiring an additional 220 shares during the last quarter. Finally, GAMMA Investing LLC raised its position 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 in the last quarter. 97.93% of the stock is owned by institutional investors and hedge funds.

Chesapeake Energy Stock Down 0.2 %

Shares of NASDAQ CHK opened at $73.06 on Tuesday. The company has a current ratio of 2.16, a quick ratio of 2.16 and a debt-to-equity ratio of 0.19. The business has a 50-day moving average of $75.21 and a 200-day moving average of $82.91. The firm has a market capitalization of $9.57 billion, a price-to-earnings ratio of 9.85 and a beta of 0.46. Chesapeake Energy Co. has a 12 month low of $69.12 and a 12 month high of $93.58.

Chesapeake Energy (NASDAQ:CHK) last released its earnings results on Monday, July 29th. The company reported $0.01 EPS for the quarter, missing analysts’ consensus estimates 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 net margin of 8.68% and a return on equity of 4.00%. The firm’s revenue was down 73.3% compared to the same quarter last year. During the same period in the prior year, the company earned $0.64 EPS. Sell-side analysts expect that Chesapeake Energy Co. 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 was paid on Thursday, September 5th. Stockholders of record on Thursday, August 15th were paid a $0.575 dividend. This represents a $2.30 dividend on an annualized basis and a dividend yield of 3.15%. The ex-dividend date was Thursday, August 15th. Chesapeake Energy’s dividend payout ratio (DPR) is presently 31.00%.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. Wolfe Research assumed coverage on shares of Chesapeake Energy in a research note on Thursday, July 18th. They issued an “outperform” rating and a $110.00 price target for the company. Stephens lifted their target price on shares of Chesapeake Energy from $117.00 to $118.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 30th. Truist Financial cut their price target on shares of Chesapeake Energy from $112.00 to $108.00 and set a “buy” rating on the stock in a report on Monday, July 22nd. StockNews.com upgraded Chesapeake Energy to a “sell” rating in a research note on Wednesday, August 14th. Finally, Scotiabank cut their target price on shares of Chesapeake Energy from $110.00 to $105.00 and set a “sector perform” rating for the company in a research report on Tuesday, August 20th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, Chesapeake Energy presently has an average rating of “Hold” and an average target price of $106.67.

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.