Chesapeake Energy Co. (NASDAQ:CHK) Stock Position Reduced by Federated Hermes Inc.

Federated Hermes Inc. decreased its stake in Chesapeake Energy Co. (NASDAQ:CHK) by 20.3% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 10,060 shares of the company’s stock after selling 2,563 shares during the quarter. Federated Hermes Inc.’s holdings in Chesapeake Energy were worth $827,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the stock. Principal Securities Inc. acquired a new position in Chesapeake Energy in the fourth quarter worth approximately $28,000. Lindbrook Capital LLC grew its position in Chesapeake Energy by 90.8% in the first quarter. Lindbrook Capital LLC now owns 374 shares of the company’s stock worth $33,000 after acquiring an additional 178 shares in the last quarter. Allspring Global Investments Holdings LLC acquired a new position in shares of Chesapeake Energy during the 1st quarter worth $37,000. BOKF NA acquired a new position in shares of Chesapeake Energy during the 1st quarter worth $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 valued at $47,000 after purchasing an additional 245 shares in the last quarter. Institutional investors and hedge funds own 97.93% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on CHK shares. StockNews.com raised shares of Chesapeake Energy to a “sell” rating in a research report on Wednesday, August 14th. Truist Financial lowered their price objective on Chesapeake Energy from $112.00 to $108.00 and set a “buy” rating on the stock in a report on Monday, July 22nd. Mizuho reduced their target price on Chesapeake Energy from $111.00 to $105.00 and set an “outperform” rating for the company in a report on Monday, September 16th. Wolfe Research began coverage on Chesapeake Energy in a report on Thursday, July 18th. They set an “outperform” rating and a $110.00 price target on the stock. Finally, UBS Group reduced their price objective on shares of Chesapeake Energy from $93.00 to $85.00 and set a “neutral” rating for the company in a research note on Wednesday, September 18th. One investment 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. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $105.92.

Chesapeake Energy Stock Performance

NASDAQ:CHK opened at $78.46 on Monday. 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 firm’s 50-day moving average is $74.62 and its 200-day moving average is $82.71. Chesapeake Energy Co. has a 52-week low of $69.12 and a 52-week high of $93.58. The company has a market cap of $10.28 billion, a price-to-earnings ratio of 10.57 and a beta of 0.46.

Chesapeake Energy (NASDAQ:CHK) last posted its quarterly earnings results on Monday, July 29th. The company reported $0.01 EPS for the quarter, missing the consensus estimate of $0.02 by ($0.01). The firm had revenue of $505.00 million during 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 company’s revenue was down 73.3% on a year-over-year basis. During the same period last year, the company earned $0.64 EPS. Equities research analysts anticipate that Chesapeake Energy Co. will post 1.32 earnings per share for the current year.

Chesapeake Energy Cuts Dividend

The firm also recently declared 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. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $2.30 dividend on an annualized basis and a yield of 2.93%. Chesapeake Energy’s dividend payout ratio is currently 31.00%.

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.