1832 Asset Management L.P. Acquires 490,201 Shares of Chesapeake Energy Co. (NASDAQ:CHK)

1832 Asset Management L.P. raised its holdings in Chesapeake Energy Co. (NASDAQ:CHK) by 247.9% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 687,954 shares of the company’s stock after acquiring an additional 490,201 shares during the quarter. 1832 Asset Management L.P. owned about 0.52% of Chesapeake Energy worth $56,543,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Principal Securities Inc. bought a new position in Chesapeake Energy during the fourth quarter worth about $28,000. Intech Investment Management LLC grew its holdings in Chesapeake Energy by 40.4% during the fourth quarter. Intech Investment Management LLC now owns 7,002 shares of the company’s stock valued at $539,000 after purchasing an additional 2,015 shares during the period. Hsbc Holdings PLC grew its holdings in Chesapeake Energy by 103.8% during the fourth quarter. Hsbc Holdings PLC now owns 151,687 shares of the company’s stock valued at $11,672,000 after purchasing an additional 77,272 shares during the period. AAFMAA Wealth Management & Trust LLC increased its stake in Chesapeake Energy by 189.9% in the fourth quarter. AAFMAA Wealth Management & Trust LLC now owns 11,012 shares of the company’s stock valued at $847,000 after purchasing an additional 7,213 shares in the last quarter. Finally, TD Asset Management Inc raised its holdings in Chesapeake Energy by 1,015.7% in the fourth quarter. TD Asset Management Inc now owns 162,106 shares of the company’s stock worth $12,472,000 after purchasing an additional 147,577 shares during the period. Institutional investors and hedge funds own 97.93% of the company’s stock.

Chesapeake Energy Price Performance

Shares of CHK opened at $78.46 on Monday. 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 Co. has a twelve month low of $69.12 and a twelve month high of $93.58. 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 50 day moving average of $74.62 and a 200-day moving average of $82.71.

Chesapeake Energy (NASDAQ:CHK) last released its earnings results on Monday, July 29th. The company reported $0.01 earnings per share for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $822.54 million. During the same period last year, the business posted $0.64 EPS. The firm’s revenue for the quarter was down 73.3% on a year-over-year basis. As a group, equities research analysts forecast that Chesapeake Energy Co. will post 1.32 EPS for the current fiscal year.

Chesapeake Energy Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 5th. Investors of record on Thursday, August 15th were given a $0.575 dividend. This represents a $2.30 dividend on an annualized basis and a dividend 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

Several equities analysts have recently issued reports on the stock. KeyCorp initiated coverage on shares of Chesapeake Energy in a report on Thursday, June 27th. They issued a “sector weight” rating for the company. UBS Group decreased their target price on Chesapeake Energy from $93.00 to $85.00 and set a “neutral” rating for the company in a research note on Wednesday, September 18th. StockNews.com raised Chesapeake Energy to a “sell” rating in a research report on Wednesday, August 14th. Mizuho cut their price objective on Chesapeake Energy from $111.00 to $105.00 and set an “outperform” rating on the stock in a report on Monday, September 16th. Finally, Stephens increased their target price on Chesapeake Energy from $117.00 to $118.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 30th. One investment 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.com, Chesapeake Energy currently has a consensus rating of “Hold” and an average 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.