Future Financial Wealth Managment LLC Buys New Stake in Chesapeake Energy Co. (NASDAQ:CHK)

Future Financial Wealth Managment LLC purchased a new position in Chesapeake Energy Co. (NASDAQ:CHK) during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm purchased 1,450 shares of the company’s stock, valued at approximately $119,000.

Other institutional investors have also made changes to their positions in the company. Allspring Global Investments Holdings LLC acquired a new position in shares of Chesapeake Energy in the first quarter valued at approximately $37,000. BOKF NA acquired a new stake in Chesapeake Energy during the first quarter worth about $45,000. GAMMA Investing LLC boosted its stake in shares of Chesapeake Energy by 75.6% in the 2nd 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. Blue Trust Inc. boosted its stake in shares of Chesapeake Energy by 895.6% in the 2nd quarter. Blue Trust Inc. now owns 677 shares of the company’s stock valued at $60,000 after purchasing an additional 609 shares in the last quarter. Finally, Mather Group LLC. raised its holdings in Chesapeake Energy by 1,384.8% in the 2nd quarter. Mather Group LLC. now owns 683 shares of the company’s stock valued at $61,000 after buying an additional 637 shares during the last quarter. 97.93% of the stock is currently owned by institutional investors and hedge funds.

Chesapeake Energy Price Performance

CHK stock opened at $81.46 on Wednesday. Chesapeake Energy Co. has a 1 year low of $69.12 and a 1 year high of $93.58. The firm has a market cap of $10.68 billion, a P/E ratio of 10.98 and a beta of 0.47. The stock’s 50 day moving average price is $74.63 and its 200 day moving average price is $82.55. 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 earnings results 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 net margin of 8.68% and a return on equity of 4.00%. The business had revenue of $505.00 million for the quarter, compared to analyst estimates of $822.54 million. During the same quarter in the prior year, the business earned $0.64 earnings per share. The firm’s revenue was down 73.3% on a year-over-year basis. On average, sell-side analysts expect that Chesapeake Energy Co. will post 1.43 earnings per share for the current fiscal year.

Chesapeake Energy Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 5th. Shareholders of record on Thursday, August 15th were paid a dividend of $0.575 per share. This represents a $2.30 annualized dividend and a yield of 2.82%. The ex-dividend date was Thursday, August 15th. Chesapeake Energy’s dividend payout ratio (DPR) is currently 31.00%.

Analyst Ratings Changes

CHK has been the topic of a number of analyst reports. Wolfe Research initiated coverage on shares of Chesapeake Energy in a report on Thursday, July 18th. They set an “outperform” rating and a $110.00 price objective on the stock. Roth Capital upgraded Chesapeake Energy to a “strong-buy” rating in a research report on Friday, September 27th. 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 report on Wednesday, September 18th. Truist Financial lowered their price objective on Chesapeake Energy from $108.00 to $96.00 and set a “buy” rating for the company in a research report on Monday, September 30th. Finally, Wells Fargo & Company lifted their price objective on Chesapeake Energy from $77.00 to $83.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 1st. One investment analyst has rated the stock with a sell rating, six have given a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Chesapeake Energy presently has a consensus rating of “Moderate Buy” and a consensus target price of $99.92.

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.