Sagefield Capital LP Has $17.69 Million Position in Chesapeake Energy Co. (NASDAQ:CHK)

Sagefield Capital LP boosted its holdings in Chesapeake Energy Co. (NASDAQ:CHK) by 31.8% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 215,177 shares of the company’s stock after purchasing an additional 51,893 shares during the quarter. Chesapeake Energy comprises approximately 1.9% of Sagefield Capital LP’s investment portfolio, making the stock its 16th largest holding. Sagefield Capital LP owned about 0.16% of Chesapeake Energy worth $17,685,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Principal Securities Inc. acquired a new stake in Chesapeake Energy in the 4th quarter valued at $28,000. Lindbrook Capital LLC lifted its stake in Chesapeake Energy by 90.8% during the 1st quarter. Lindbrook Capital LLC now owns 374 shares of the company’s stock valued at $33,000 after acquiring an additional 178 shares in the last quarter. Allspring Global Investments Holdings LLC bought a new position in Chesapeake Energy during the 1st quarter valued at $37,000. BOKF NA bought a new position in Chesapeake Energy during the 1st quarter valued at $45,000. Finally, GAMMA Investing LLC lifted its stake in Chesapeake Energy by 75.6% during the 2nd quarter. GAMMA Investing LLC now owns 569 shares of the company’s stock valued at $47,000 after acquiring an additional 245 shares in the last quarter. Institutional investors and hedge funds own 97.93% of the company’s stock.

Chesapeake Energy Trading Up 2.3 %

Shares of CHK opened at $80.26 on Tuesday. The business has a 50-day moving average of $74.62 and a 200 day moving average of $82.72. Chesapeake Energy Co. has a fifty-two week low of $69.12 and a fifty-two week high of $93.58. The firm has a market cap of $10.52 billion, a P/E ratio of 10.82 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 (NASDAQ:CHK) last announced its quarterly earnings data 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). Chesapeake Energy had a return on equity of 4.00% and a net margin of 8.68%. The firm had revenue of $505.00 million during the quarter, compared to analysts’ expectations of $822.54 million. During the same period last year, the business posted $0.64 EPS. The company’s revenue was down 73.3% compared to the same quarter last year. As a group, research analysts forecast that Chesapeake Energy Co. will post 1.32 EPS for the current year.

Chesapeake Energy Cuts Dividend

The business also recently announced 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 dividend on an annualized basis and a yield of 2.87%. The ex-dividend date was Thursday, August 15th. Chesapeake Energy’s payout ratio is presently 31.00%.

Wall Street Analyst Weigh In

CHK has been the topic of several recent analyst reports. StockNews.com upgraded Chesapeake Energy to a “sell” rating in a research note on Wednesday, August 14th. Truist Financial dropped their price objective on Chesapeake Energy from $112.00 to $108.00 and set a “buy” rating on the stock in a research note on Monday, July 22nd. Scotiabank dropped their price objective 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. Mizuho lowered their target price on Chesapeake Energy from $111.00 to $105.00 and set an “outperform” rating on the stock in a research note on Monday, September 16th. Finally, Stephens lifted 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 assigned a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the stock 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.