3,926 Shares in Chesapeake Energy Co. (NASDAQ:CHK) Bought by Choreo LLC

Choreo LLC bought a new position in Chesapeake Energy Co. (NASDAQ:CHK) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 3,926 shares of the company’s stock, valued at approximately $323,000.

A number of other large investors have also recently added to or reduced their stakes in the company. Quest Partners LLC acquired a new stake in shares of Chesapeake Energy in the fourth quarter valued at approximately $975,000. Wealth Enhancement Advisory Services LLC lifted its position in Chesapeake Energy by 705.4% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 29,229 shares of the company’s stock worth $2,402,000 after buying an additional 25,600 shares in the last quarter. Quantbot Technologies LP acquired a new position in shares of Chesapeake Energy during the 1st quarter worth about $1,006,000. Russell Investments Group Ltd. grew its holdings in shares of Chesapeake Energy by 66.4% in the 1st quarter. Russell Investments Group Ltd. now owns 119,470 shares of the company’s stock valued at $10,612,000 after acquiring an additional 47,658 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC acquired a new stake in shares of Chesapeake Energy in the first quarter valued at about $37,000. Institutional investors own 97.93% of the company’s stock.

Analysts Set New Price Targets

CHK has been the subject of a number of analyst reports. StockNews.com upgraded Chesapeake Energy to a “sell” rating in a research note on Wednesday, August 14th. KeyCorp started coverage on shares of Chesapeake Energy in a research note on Thursday, June 27th. They issued a “sector weight” rating for the company. Mizuho dropped their price target on shares of Chesapeake Energy from $111.00 to $105.00 and set an “outperform” rating on the stock in a research report on Monday. Stephens lifted their price objective on shares of Chesapeake Energy from $117.00 to $118.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 30th. Finally, Wolfe Research started coverage on shares of Chesapeake Energy in a report on Thursday, July 18th. They issued an “outperform” rating and a $110.00 target price on the stock. 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. Based on data from MarketBeat.com, Chesapeake Energy presently has an average rating of “Hold” and a consensus target price of $106.67.

Chesapeake Energy Stock Performance

CHK opened at $73.34 on Wednesday. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.16 and a quick ratio of 2.16. The business has a fifty day simple moving average of $75.02 and a 200 day simple moving average of $82.84. Chesapeake Energy Co. has a 1 year low of $69.12 and a 1 year high of $93.58. The company has a market capitalization of $9.61 billion, a PE ratio of 9.88 and a beta of 0.46.

Chesapeake Energy (NASDAQ:CHK) last announced its earnings results on Monday, July 29th. The company reported $0.01 earnings per share (EPS) 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 in the previous year, the firm posted $0.64 EPS. The company’s revenue was down 73.3% compared to the same quarter last year. Research analysts expect that Chesapeake Energy Co. will post 1.32 EPS for the current year.

Chesapeake Energy Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 5th. Stockholders of record on Thursday, August 15th were given a $0.575 dividend. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $2.30 dividend on an annualized basis and a dividend yield of 3.14%. Chesapeake Energy’s payout ratio is 31.00%.

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.