First Eagle Investment Management LLC Purchases 1,600 Shares of Chesapeake Energy Co. (NASDAQ:CHK)

First Eagle Investment Management LLC increased its position in Chesapeake Energy Co. (NASDAQ:CHK) by 21.4% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 9,093 shares of the company’s stock after buying an additional 1,600 shares during the period. First Eagle Investment Management LLC’s holdings in Chesapeake Energy were worth $747,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Aurora Investment Counsel boosted its holdings in Chesapeake Energy by 1.1% in the 1st quarter. Aurora Investment Counsel now owns 11,930 shares of the company’s stock worth $1,060,000 after buying an additional 135 shares during the period. Lindbrook Capital LLC boosted its holdings in shares of Chesapeake Energy by 90.8% during the 1st quarter. Lindbrook Capital LLC now owns 374 shares of the company’s stock valued at $33,000 after purchasing an additional 178 shares during the last quarter. Clear Harbor Asset Management LLC grew its position in shares of Chesapeake Energy by 1.3% during the second quarter. Clear Harbor Asset Management LLC now owns 13,895 shares of the company’s stock valued at $1,142,000 after purchasing an additional 180 shares in the last quarter. Abich Financial Wealth Management LLC grew its position in shares of Chesapeake Energy by 32.4% during the first quarter. Abich Financial Wealth Management LLC now owns 900 shares of the company’s stock valued at $80,000 after purchasing an additional 220 shares in the last quarter. Finally, GAMMA Investing LLC grew its position in shares of Chesapeake Energy by 75.6% during the second 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. Institutional investors own 97.93% of the company’s stock.

Chesapeake Energy Stock Up 2.5 %

Shares of NASDAQ:CHK opened at $78.46 on Friday. Chesapeake Energy Co. has a 1 year low of $69.12 and a 1 year high of $93.58. The business has a 50 day simple moving average of $74.62 and a two-hundred day simple moving average of $82.72. The firm has a market capitalization of $10.28 billion, a PE ratio of 10.57 and a beta of 0.46. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.16 and a quick 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 (EPS) 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 analysts’ expectations of $822.54 million. During the same quarter last year, the firm earned $0.64 EPS. The firm’s quarterly revenue was down 73.3% on a year-over-year basis. On average, equities analysts predict that Chesapeake Energy Co. will post 1.32 EPS for the current year.

Chesapeake Energy Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 5th. Stockholders of record on Thursday, August 15th were paid a dividend of $0.575 per share. This represents a $2.30 annualized dividend and a dividend yield of 2.93%. The ex-dividend date was Thursday, August 15th. Chesapeake Energy’s dividend payout ratio is presently 31.00%.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. Stephens raised their price objective on Chesapeake Energy from $117.00 to $118.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 30th. KeyCorp assumed coverage on Chesapeake Energy in a research report on Thursday, June 27th. They set a “sector weight” rating for the company. Wolfe Research assumed coverage on Chesapeake Energy in a research report on Thursday, July 18th. They set an “outperform” rating and a $110.00 price objective for the company. UBS Group cut their price objective on Chesapeake Energy from $93.00 to $85.00 and set a “neutral” rating for the company in a research report on Wednesday. Finally, StockNews.com upgraded Chesapeake Energy to a “sell” rating in a research report on Wednesday, August 14th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus 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.