Huber Capital Management LLC Lowers Stock Position in Chesapeake Energy Co. (NASDAQ:CHK)

Huber Capital Management LLC lessened its holdings in shares of Chesapeake Energy Co. (NASDAQ:CHK) by 6.5% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 20,014 shares of the company’s stock after selling 1,400 shares during the period. Huber Capital Management LLC’s holdings in Chesapeake Energy were worth $1,645,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Thrivent Financial for Lutherans boosted its stake in Chesapeake Energy by 0.6% during the second quarter. Thrivent Financial for Lutherans now owns 2,589,410 shares of the company’s stock worth $212,824,000 after acquiring an additional 15,475 shares in the last quarter. Intech Investment Management LLC boosted its position in shares of Chesapeake Energy by 154.6% in the 2nd quarter. Intech Investment Management LLC now owns 11,168 shares of the company’s stock worth $918,000 after purchasing an additional 6,782 shares in the last quarter. Goehring & Rozencwajg Associates LLC grew its stake in shares of Chesapeake Energy by 10.9% in the 2nd quarter. Goehring & Rozencwajg Associates LLC now owns 106,205 shares of the company’s stock worth $8,729,000 after buying an additional 10,400 shares during the last quarter. MQS Management LLC purchased a new stake in shares of Chesapeake Energy in the 2nd quarter worth approximately $503,000. Finally, First Eagle Investment Management LLC raised its stake in Chesapeake Energy by 21.4% during the second quarter. First Eagle Investment Management LLC now owns 9,093 shares of the company’s stock valued at $747,000 after buying an additional 1,600 shares during the last quarter. 97.93% of the stock is owned by hedge funds and other institutional investors.

Chesapeake Energy Stock Up 2.5 %

Chesapeake Energy stock opened at $78.46 on Friday. Chesapeake Energy Co. has a one year low of $69.12 and a one year high of $93.58. The stock has a fifty day moving average of $74.62 and a 200 day moving average of $82.72. The company has a debt-to-equity ratio of 0.19, a quick ratio of 2.16 and a current ratio of 2.16. The stock has a market cap of $10.28 billion, a PE ratio of 10.57 and a beta of 0.46.

Chesapeake Energy (NASDAQ:CHK) last released its quarterly 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 during the quarter, compared to the consensus estimate of $822.54 million. Chesapeake Energy had a return on equity of 4.00% and a net margin of 8.68%. The firm’s revenue was down 73.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.64 earnings per share. As a group, sell-side analysts predict that Chesapeake Energy Co. will post 1.32 EPS for the current year.

Chesapeake Energy Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 5th. Shareholders of record on Thursday, August 15th were issued a dividend of $0.575 per share. This represents a $2.30 annualized dividend and a yield of 2.93%. The ex-dividend date was Thursday, August 15th. Chesapeake Energy’s dividend payout ratio is presently 31.00%.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on CHK shares. Scotiabank cut 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. KeyCorp assumed coverage on shares of Chesapeake Energy in a research report on Thursday, June 27th. They set a “sector weight” rating on the stock. 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 research note on Monday, September 16th. 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. Finally, Stephens boosted their price objective on shares of Chesapeake Energy from $117.00 to $118.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 30th. 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 company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price 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.