Goehring & Rozencwajg Associates LLC Purchases 10,400 Shares of Chesapeake Energy Co. (NASDAQ:CHK)

Goehring & Rozencwajg Associates LLC boosted its position in shares of Chesapeake Energy Co. (NASDAQ:CHK) by 10.9% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 106,205 shares of the company’s stock after acquiring an additional 10,400 shares during the period. Chesapeake Energy accounts for about 1.7% of Goehring & Rozencwajg Associates LLC’s investment portfolio, making the stock its 21st largest position. Goehring & Rozencwajg Associates LLC owned about 0.08% of Chesapeake Energy worth $8,729,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Principal Securities Inc. purchased a new stake in Chesapeake Energy during the 4th quarter valued at approximately $28,000. Lindbrook Capital LLC grew its stake in Chesapeake Energy by 90.8% during the first 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 stake in Chesapeake Energy in the 1st quarter valued at $37,000. BOKF NA purchased a new stake in Chesapeake Energy in the 1st quarter worth $45,000. Finally, GAMMA Investing LLC boosted its holdings in shares of 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 purchasing an additional 245 shares during the last quarter. 97.93% of the stock is currently owned by institutional investors.

Chesapeake Energy Stock Performance

NASDAQ CHK opened at $74.51 on Thursday. The company has a market cap of $9.76 billion, a P/E ratio of 10.04 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. The business’s 50 day moving average price is $74.85 and its 200-day moving average price is $82.79. Chesapeake Energy Co. has a fifty-two week low of $69.12 and a fifty-two week high of $93.58.

Chesapeake Energy (NASDAQ:CHK) last posted its quarterly earnings data 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 for the quarter, compared to analysts’ expectations of $822.54 million. During the same quarter in the previous year, the firm earned $0.64 EPS. Chesapeake Energy’s revenue was down 73.3% compared to the same quarter last year. Sell-side analysts predict that Chesapeake Energy Co. will post 1.32 earnings per share for the current year.

Chesapeake Energy Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 5th. Investors 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 3.09%. The ex-dividend date of this dividend was Thursday, August 15th. Chesapeake Energy’s payout ratio is currently 31.00%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on CHK shares. Wolfe Research started coverage on Chesapeake Energy in a report on Thursday, July 18th. They issued an “outperform” rating and a $110.00 target price on the stock. StockNews.com raised Chesapeake Energy to a “sell” rating in a research note on Wednesday, August 14th. Truist Financial reduced 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. Stephens lifted their price objective 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. Finally, UBS Group reduced their price objective on Chesapeake Energy from $93.00 to $85.00 and set a “neutral” rating on the stock in a research note on Wednesday. One 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. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $105.92.

Chesapeake Energy Company 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.