Blair William & Co. IL Acquires New Shares in Chesapeake Energy Co. (NASDAQ:CHK)

Blair William & Co. IL bought a new position in Chesapeake Energy Co. (NASDAQ:CHK) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 2,749 shares of the company’s stock, valued at approximately $226,000.

Other institutional investors have also added to or reduced their stakes in the company. Lindbrook Capital LLC boosted its holdings in shares of Chesapeake Energy by 90.8% in the 1st quarter. Lindbrook Capital LLC now owns 374 shares of the company’s stock worth $33,000 after purchasing an additional 178 shares in the last quarter. Allspring Global Investments Holdings LLC purchased a new position in shares of Chesapeake Energy in the 1st quarter worth about $37,000. BOKF NA purchased a new position in shares of Chesapeake Energy in the 1st quarter worth about $45,000. GAMMA Investing LLC boosted its holdings 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 during the period. Finally, Blue Trust Inc. boosted its holdings in Chesapeake Energy by 895.6% during the 2nd quarter. Blue Trust Inc. now owns 677 shares of the company’s stock valued at $60,000 after acquiring an additional 609 shares during the period. 97.93% of the stock is currently owned by institutional investors.

Chesapeake Energy Stock Up 2.9 %

CHK stock opened at $82.60 on Friday. Chesapeake Energy Co. has a twelve month low of $69.12 and a twelve month high of $93.58. The company has a quick ratio of 2.16, a current ratio of 2.16 and a debt-to-equity ratio of 0.19. The firm has a market cap of $10.84 billion, a PE ratio of 11.13 and a beta of 0.46. The business has a 50 day moving average of $74.43 and a 200 day moving average of $82.64.

Chesapeake Energy (NASDAQ:CHK) last posted its quarterly earnings data 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 company had revenue of $505.00 million for the quarter, compared to the consensus estimate of $822.54 million. During the same period last year, the business earned $0.64 EPS. The firm’s quarterly revenue was down 73.3% on a year-over-year basis. On average, research analysts forecast that Chesapeake Energy Co. will post 1.43 EPS for the current fiscal year.

Chesapeake Energy Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 5th. Investors of record on Thursday, August 15th were given a dividend of $0.575 per share. This represents a $2.30 dividend on an annualized basis and a yield of 2.78%. The ex-dividend date was Thursday, August 15th. Chesapeake Energy’s dividend payout ratio (DPR) is presently 31.00%.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on CHK. Scotiabank dropped their target price on Chesapeake Energy from $110.00 to $105.00 and set a “sector perform” rating for the company in a report on Tuesday, August 20th. Wolfe Research began coverage on Chesapeake Energy in a report on Thursday, July 18th. They set an “outperform” rating and a $110.00 target price for the company. StockNews.com upgraded Chesapeake Energy to a “sell” rating in a report on Wednesday, August 14th. Roth Mkm began coverage on Chesapeake Energy in a report on Friday. They set a “buy” rating and a $92.00 target price for the company. Finally, Truist Financial dropped their target price on Chesapeake Energy from $112.00 to $108.00 and set a “buy” rating for the company in a report on Monday, July 22nd. One investment analyst has rated the stock with a sell rating, six have given a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $101.33.

About Chesapeake Energy

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.