Oppenheimer Asset Management Inc. Purchases 586 Shares of Chesapeake Energy Co. (NASDAQ:CHK)

Oppenheimer Asset Management Inc. lifted its position in shares of Chesapeake Energy Co. (NASDAQ:CHK) by 13.9% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,815 shares of the company’s stock after purchasing an additional 586 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Chesapeake Energy were worth $396,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Price T Rowe Associates Inc. MD raised its holdings 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 during the period. Lord Abbett & CO. LLC lifted its position in Chesapeake Energy by 13.4% in the 1st quarter. Lord Abbett & CO. LLC now owns 2,599,352 shares of the company’s stock valued at $230,900,000 after acquiring an additional 307,814 shares in the last quarter. First Trust Advisors LP boosted its stake in Chesapeake Energy by 0.3% in the 4th quarter. First Trust Advisors LP now owns 640,391 shares of the company’s stock worth $49,272,000 after purchasing an additional 2,206 shares during the period. Principal Financial Group Inc. increased its holdings in Chesapeake Energy by 1.4% during the 1st quarter. Principal Financial Group Inc. now owns 468,133 shares of the company’s stock worth $41,584,000 after purchasing an additional 6,565 shares in the last quarter. Finally, Scout Investments Inc. acquired a new stake in shares of Chesapeake Energy in the 4th quarter valued at about $32,079,000. Institutional investors and hedge funds own 97.93% of the company’s stock.

Analysts Set New Price Targets

CHK has been the subject of a number of research reports. KeyCorp began coverage on Chesapeake Energy in a report on Thursday, June 27th. They set a “sector weight” rating for the company. StockNews.com raised shares of Chesapeake Energy to a “sell” rating in a research note on Wednesday, August 14th. Wolfe Research started coverage on shares of Chesapeake Energy in a research report on Thursday, July 18th. They issued an “outperform” rating and a $110.00 price objective on the stock. UBS Group decreased their target price on shares of Chesapeake Energy from $93.00 to $85.00 and set a “neutral” rating for the company in a research report on Wednesday. Finally, Scotiabank cut 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 report on Tuesday, August 20th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, Chesapeake Energy has a consensus rating of “Hold” and an average price target of $105.92.

Chesapeake Energy Trading Up 2.5 %

Chesapeake Energy stock opened at $78.46 on Friday. The stock has a 50-day simple moving average of $74.62 and a 200 day simple moving average of $82.72. The stock has a market capitalization of $10.28 billion, a P/E ratio of 10.57 and a beta of 0.46. 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 Co. has a 52 week low of $69.12 and a 52 week high of $93.58.

Chesapeake Energy (NASDAQ:CHK) last issued its earnings results on Monday, July 29th. The company reported $0.01 EPS for the quarter, missing the consensus estimate of $0.02 by ($0.01). Chesapeake Energy had a return on equity of 4.00% and a net margin of 8.68%. The business had revenue of $505.00 million for the quarter, compared to the consensus estimate of $822.54 million. During the same quarter in the prior year, the firm posted $0.64 earnings per share. The business’s revenue was down 73.3% compared to the same quarter last year. Analysts expect that Chesapeake Energy Co. will post 1.32 earnings per share for the current 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 issued a $0.575 dividend. The ex-dividend date was Thursday, August 15th. This represents a $2.30 annualized dividend and a dividend yield of 2.93%. Chesapeake Energy’s dividend payout ratio is currently 31.00%.

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.