Amalgamated Bank Cuts Holdings in Chesapeake Energy Co. (NASDAQ:CHK)

Amalgamated Bank trimmed its holdings in shares of Chesapeake Energy Co. (NASDAQ:CHK) by 6.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 73,308 shares of the company’s stock after selling 5,228 shares during the quarter. Amalgamated Bank owned approximately 0.06% of Chesapeake Energy worth $6,025,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in CHK. Price T Rowe Associates Inc. MD increased its stake in Chesapeake Energy by 233.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 9,059,644 shares of the company’s stock worth $804,769,000 after buying an additional 6,338,963 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Chesapeake Energy by 18.1% in the second quarter. Dimensional Fund Advisors LP now owns 3,333,769 shares of the company’s stock valued at $274,005,000 after acquiring an additional 510,664 shares in the last quarter. Scout Investments Inc. acquired a new stake in shares of Chesapeake Energy in the fourth quarter worth approximately $32,079,000. Lord Abbett & CO. LLC increased its position in shares of Chesapeake Energy by 13.4% during the first quarter. Lord Abbett & CO. LLC now owns 2,599,352 shares of the company’s stock worth $230,900,000 after purchasing an additional 307,814 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA raised its stake in Chesapeake Energy by 7.6% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 4,119,498 shares of the company’s stock valued at $338,582,000 after purchasing an additional 292,586 shares during the last quarter. Hedge funds and other institutional investors own 97.93% of the company’s stock.

Chesapeake Energy Price Performance

CHK stock opened at $78.46 on Friday. Chesapeake Energy Co. has a 52-week low of $69.12 and a 52-week high of $93.58. The business has a fifty day moving average of $74.62 and a two-hundred day moving average of $82.72. The stock has a market cap of $10.28 billion, a price-to-earnings ratio of 10.57 and a beta of 0.46. The company has a quick ratio of 2.16, a current ratio of 2.16 and a debt-to-equity ratio of 0.19.

Chesapeake Energy (NASDAQ:CHK) last issued its quarterly earnings data on Monday, July 29th. The company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.02 by ($0.01). The company had revenue of $505.00 million during the quarter, compared to analysts’ expectations of $822.54 million. Chesapeake Energy had a net margin of 8.68% and a return on equity of 4.00%. The firm’s quarterly revenue was down 73.3% on a year-over-year basis. During the same quarter last year, the firm posted $0.64 earnings per share. As a group, research analysts anticipate that Chesapeake Energy Co. will post 1.32 earnings per share for the current year.

Chesapeake Energy Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 5th. Shareholders of record on Thursday, August 15th were given a $0.575 dividend. This represents a $2.30 annualized dividend and a yield of 2.93%. The ex-dividend date of this dividend was Thursday, August 15th. Chesapeake Energy’s dividend payout ratio is currently 31.00%.

Analysts Set New Price Targets

CHK has been the topic of several recent research reports. 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. StockNews.com upgraded shares of Chesapeake Energy to a “sell” rating in a research report on Wednesday, August 14th. UBS Group cut their price objective on shares of Chesapeake Energy from $93.00 to $85.00 and set a “neutral” rating for the company in a report on Wednesday. Truist Financial decreased their target price 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. Finally, Mizuho dropped their price target on Chesapeake Energy from $111.00 to $105.00 and set an “outperform” rating for the company in a research report on Monday, September 16th. One research analyst has rated the stock with a sell rating, six have given a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, Chesapeake Energy presently has a consensus rating of “Hold” and a consensus price target of $105.92.

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.