Kimmeridge Energy Management Company LLC Purchases 827,000 Shares of Chesapeake Energy Co. (NASDAQ:CHK)

Kimmeridge Energy Management Company LLC increased its position in shares of Chesapeake Energy Co. (NASDAQ:CHK) by 28.8% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,694,879 shares of the company’s stock after buying an additional 827,000 shares during the quarter. Chesapeake Energy accounts for 18.8% of Kimmeridge Energy Management Company LLC’s portfolio, making the stock its 2nd biggest holding. Kimmeridge Energy Management Company LLC owned approximately 2.82% of Chesapeake Energy worth $303,682,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in CHK. Aurora Investment Counsel boosted its holdings in Chesapeake Energy by 1.1% during the first quarter. Aurora Investment Counsel now owns 11,930 shares of the company’s stock valued at $1,060,000 after purchasing an additional 135 shares in the last quarter. Lindbrook Capital LLC boosted its holdings in Chesapeake Energy by 90.8% during the first quarter. Lindbrook Capital LLC now owns 374 shares of the company’s stock valued at $33,000 after purchasing an additional 178 shares in the last quarter. Clear Harbor Asset Management LLC boosted its holdings 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 purchasing an additional 180 shares in the last quarter. Abich Financial Wealth Management LLC boosted its holdings 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 purchasing an additional 220 shares in the last quarter. Finally, GAMMA Investing LLC boosted its holdings in Chesapeake Energy by 75.6% during the second quarter. GAMMA Investing LLC now owns 569 shares of the company’s stock valued at $47,000 after purchasing an additional 245 shares in the last quarter. 97.93% of the stock is owned by institutional investors and hedge funds.

Chesapeake Energy Trading Up 2.5 %

Chesapeake Energy stock opened at $78.46 on Friday. The firm has a 50-day moving average of $74.62 and a 200-day moving average of $82.72. Chesapeake Energy Co. has a one year low of $69.12 and a one year high of $93.58. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.16 and a quick ratio of 2.16. The company has a market cap of $10.28 billion, a price-to-earnings ratio of 10.57 and a beta of 0.46.

Chesapeake Energy (NASDAQ:CHK) last issued its earnings results 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). Chesapeake Energy had a net margin of 8.68% and a return on equity of 4.00%. The firm had revenue of $505.00 million during the quarter, compared to analyst estimates of $822.54 million. During the same quarter last year, the business posted $0.64 earnings per share. The company’s revenue for the quarter was down 73.3% on a year-over-year basis. On average, equities 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 disclosed a quarterly dividend, which was paid on Thursday, September 5th. Shareholders 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 yield of 2.93%. Chesapeake Energy’s dividend payout ratio (DPR) is presently 31.00%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on CHK shares. KeyCorp started coverage on shares of Chesapeake Energy in a research note on Thursday, June 27th. They issued a “sector weight” rating for the company. 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 research report on Tuesday, July 30th. StockNews.com upgraded shares of Chesapeake Energy to a “sell” rating in a research report on Wednesday, August 14th. Mizuho dropped 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, September 16th. Finally, Wolfe Research assumed coverage on shares of Chesapeake Energy in a research report on Thursday, July 18th. They set an “outperform” rating and a $110.00 target price for the company. One investment 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 presently has a consensus rating of “Hold” and an average target price 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.