Chesapeake Energy Co. (NASDAQ:CHK) Stake Lowered by Quest Partners LLC

Quest Partners LLC trimmed its position in shares of Chesapeake Energy Co. (NASDAQ:CHK) by 94.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 766 shares of the company’s stock after selling 13,188 shares during the period. Quest Partners LLC’s holdings in Chesapeake Energy were worth $63,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the company. Principal Securities Inc. bought a new stake in Chesapeake Energy in the fourth quarter worth approximately $28,000. Great Lakes Advisors LLC acquired a new position in Chesapeake Energy during the fourth quarter worth $1,050,000. ING Groep NV bought a new position in Chesapeake Energy during the fourth quarter valued at about $1,385,000. BI Asset Management Fondsmaeglerselskab A S lifted its position in shares of Chesapeake Energy by 45.4% in the fourth quarter. BI Asset Management Fondsmaeglerselskab A S now owns 4,378 shares of the company’s stock worth $337,000 after buying an additional 1,367 shares during the last quarter. Finally, Intech Investment Management LLC boosted its stake in shares of Chesapeake Energy by 40.4% during the 4th quarter. Intech Investment Management LLC now owns 7,002 shares of the company’s stock worth $539,000 after acquiring an additional 2,015 shares in the last quarter. Institutional investors and hedge funds own 97.93% of the company’s stock.

Chesapeake Energy Stock Up 1.6 %

CHK stock opened at $74.51 on Thursday. The business’s 50-day simple moving average is $74.85 and its 200 day simple moving average is $82.79. The company has a quick ratio of 2.16, a current ratio of 2.16 and a debt-to-equity ratio of 0.19. The company has a market cap of $9.76 billion, a PE ratio of 10.04 and a beta of 0.46. Chesapeake Energy Co. has a twelve month low of $69.12 and a twelve month high of $93.58.

Chesapeake Energy (NASDAQ:CHK) last announced its quarterly earnings data 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 firm 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 for the quarter was down 73.3% compared to the same quarter last year. During the same period in the previous year, the business posted $0.64 EPS. On average, research analysts anticipate that Chesapeake Energy Co. will post 1.32 earnings per share for the current year.

Chesapeake Energy Cuts Dividend

The firm also recently disclosed 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 3.09%. The ex-dividend date of this dividend was Thursday, August 15th. Chesapeake Energy’s dividend payout ratio is 31.00%.

Analyst Ratings Changes

A number of research analysts recently weighed in on CHK shares. Stephens raised 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. UBS Group dropped their price target on shares of Chesapeake Energy from $93.00 to $85.00 and set a “neutral” rating on the stock in a research report on Wednesday. Wolfe Research assumed coverage on shares of Chesapeake Energy in a report on Thursday, July 18th. They set an “outperform” rating and a $110.00 price objective for the company. Mizuho dropped their target price on shares of Chesapeake Energy from $111.00 to $105.00 and set an “outperform” rating on the stock in a report on Monday. Finally, Truist Financial decreased their price target 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. One equities research 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.com, the stock has an average rating of “Hold” and an average price target of $105.92.

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.