Private Advisor Group LLC Trims Stake in Chesapeake Energy Co. (NASDAQ:CHK)

Private Advisor Group LLC lessened its position in shares of Chesapeake Energy Co. (NASDAQ:CHK) by 8.4% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 6,901 shares of the company’s stock after selling 629 shares during the quarter. Private Advisor Group LLC’s holdings in Chesapeake Energy were worth $567,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the company. Principal Securities Inc. acquired a new stake in shares of Chesapeake Energy during the fourth quarter worth about $28,000. Lindbrook Capital LLC lifted its position in Chesapeake Energy by 90.8% during the 1st quarter. Lindbrook Capital LLC now owns 374 shares of the company’s stock worth $33,000 after acquiring an additional 178 shares during the period. Allspring Global Investments Holdings LLC purchased a new position in shares of Chesapeake Energy in the 1st quarter valued at approximately $37,000. BOKF NA acquired a new position in shares of Chesapeake Energy in the first quarter valued at approximately $45,000. Finally, GAMMA Investing LLC raised its stake in shares of Chesapeake Energy by 75.6% during the second quarter. GAMMA Investing LLC now owns 569 shares of the company’s stock worth $47,000 after purchasing an additional 245 shares during the last quarter. Institutional investors and hedge funds own 97.93% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have issued reports on CHK. Truist Financial dropped their price objective on shares of Chesapeake Energy from $112.00 to $108.00 and set a “buy” rating on the stock in a research note on Monday, July 22nd. Scotiabank dropped their price target on shares of 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. Mizuho reduced their price objective on shares of Chesapeake Energy from $111.00 to $105.00 and set an “outperform” rating for the company in a research report on Monday. StockNews.com raised Chesapeake Energy to a “sell” rating in a report on Wednesday, August 14th. Finally, KeyCorp started coverage on Chesapeake Energy in a report on Thursday, June 27th. They issued a “sector weight” rating for the company. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $105.92.

Chesapeake Energy Stock Up 1.6 %

Chesapeake Energy stock opened at $74.51 on Thursday. Chesapeake Energy Co. has a fifty-two week low of $69.12 and a fifty-two week high of $93.58. The firm has a market capitalization of $9.76 billion, a price-to-earnings ratio of 10.04 and a beta of 0.46. The stock’s fifty day moving average is $74.85 and its two-hundred day moving average is $82.79. The company has a debt-to-equity ratio of 0.19, a quick ratio of 2.16 and a current ratio of 2.16.

Chesapeake Energy (NASDAQ:CHK) last posted 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). Chesapeake Energy had a net margin of 8.68% and a return on equity of 4.00%. The business had revenue of $505.00 million for the quarter, compared to analysts’ expectations of $822.54 million. During the same quarter last year, the business posted $0.64 earnings per share. The business’s revenue was down 73.3% compared to the same quarter last year. Analysts predict that Chesapeake Energy Co. will post 1.32 EPS for the current fiscal year.

Chesapeake Energy Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 5th. Investors 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 3.09%. Chesapeake Energy’s dividend payout ratio 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.