MQS Management LLC Makes New $503,000 Investment in Chesapeake Energy Co. (NASDAQ:CHK)

MQS Management LLC acquired a new stake in Chesapeake Energy Co. (NASDAQ:CHK) in the 2nd quarter, according to its most recent disclosure with the SEC. The fund acquired 6,126 shares of the company’s stock, valued at approximately $503,000.

A number of other institutional investors have also recently modified their holdings of the stock. Principal Securities Inc. acquired a new stake in shares of Chesapeake Energy during the 4th quarter worth approximately $28,000. Lindbrook Capital LLC lifted its stake in Chesapeake Energy by 90.8% during the first quarter. Lindbrook Capital LLC now owns 374 shares of the company’s stock worth $33,000 after purchasing an additional 178 shares during the last quarter. Allspring Global Investments Holdings LLC acquired a new stake in shares of Chesapeake Energy in the 1st quarter valued at $37,000. BOKF NA bought a new position in shares of Chesapeake Energy in the 1st quarter valued at $45,000. Finally, GAMMA Investing LLC raised 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 worth $47,000 after buying an additional 245 shares in the last quarter. 97.93% of the stock is currently owned by institutional investors.

Chesapeake Energy Trading Up 2.8 %

Shares of CHK stock opened at $76.57 on Friday. Chesapeake Energy Co. has a 1-year low of $69.12 and a 1-year high of $93.58. The company has a current ratio of 2.16, a quick ratio of 2.16 and a debt-to-equity ratio of 0.19. The stock has a market cap of $10.03 billion, a price-to-earnings ratio of 10.32 and a beta of 0.46. The stock has a 50-day moving average of $74.85 and a 200-day moving average of $82.79.

Chesapeake Energy (NASDAQ:CHK) last released its earnings results 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). The firm had revenue of $505.00 million for the quarter, compared to analyst estimates of $822.54 million. Chesapeake Energy had a net margin of 8.68% and a return on equity of 4.00%. The business’s revenue for the quarter was down 73.3% compared to the same quarter last year. During the same period in the prior year, the company posted $0.64 EPS. On average, equities research analysts forecast that Chesapeake Energy Co. will post 1.32 earnings per share for the current year.

Chesapeake Energy Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 5th. Investors of record on Thursday, August 15th were paid a dividend of $0.575 per share. This represents a $2.30 dividend on an annualized basis and a yield of 3.00%. The ex-dividend date of this dividend was Thursday, August 15th. Chesapeake Energy’s dividend payout ratio is presently 31.00%.

Analyst Ratings Changes

Several analysts recently weighed in on CHK shares. Scotiabank reduced 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. Truist Financial decreased their price target on shares of Chesapeake Energy from $112.00 to $108.00 and set a “buy” rating on the stock in a report on Monday, July 22nd. StockNews.com upgraded shares of Chesapeake Energy to a “sell” rating in a research report on Wednesday, August 14th. Stephens raised their target price 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, KeyCorp began coverage on shares of Chesapeake Energy in a report on Thursday, June 27th. They set a “sector weight” rating for the company. One analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $105.92.

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.