MBB Public Markets I LLC Acquires New Position in Chesapeake Energy Co. (NASDAQ:CHK)

MBB Public Markets I LLC bought a new position in Chesapeake Energy Co. (NASDAQ:CHK) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 7,786 shares of the company’s stock, valued at approximately $640,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Allspring Global Investments Holdings LLC purchased a new stake in shares of Chesapeake Energy in the 1st quarter valued at $37,000. BOKF NA purchased a new stake in Chesapeake Energy during the first quarter valued at about $45,000. GAMMA Investing LLC grew its stake 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 buying an additional 245 shares during the last quarter. Blue Trust Inc. increased its holdings in shares of Chesapeake Energy by 895.6% in the second quarter. Blue Trust Inc. now owns 677 shares of the company’s stock worth $60,000 after buying an additional 609 shares during the period. Finally, Mather Group LLC. lifted its stake in shares of Chesapeake Energy by 1,384.8% in the 2nd quarter. Mather Group LLC. now owns 683 shares of the company’s stock valued at $61,000 after acquiring an additional 637 shares during the last quarter. 97.93% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have commented on the company. KeyCorp started coverage on Chesapeake Energy in a research note on Thursday, June 27th. They issued a “sector weight” rating on the stock. UBS Group decreased their target price on shares of Chesapeake Energy from $93.00 to $85.00 and set a “neutral” rating on the stock in a research note on Wednesday, September 18th. Stephens increased their price target 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. Scotiabank decreased their price objective on shares of Chesapeake Energy from $110.00 to $105.00 and set a “sector perform” rating on the stock in a research report on Tuesday, August 20th. Finally, Mizuho dropped their target price on shares of Chesapeake Energy from $111.00 to $105.00 and set an “outperform” rating for the company in a report on Monday, September 16th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $99.92.

Chesapeake Energy Stock Down 1.0 %

CHK stock opened at $81.46 on Wednesday. The company has a market capitalization of $10.68 billion, a price-to-earnings ratio of 10.98 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 $74.47 and its two-hundred day moving average price is $82.59. 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 issued its quarterly earnings results on Monday, July 29th. The company reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.02 by ($0.01). Chesapeake Energy had a return on equity of 4.00% and a net margin of 8.68%. The firm had revenue of $505.00 million during the quarter, compared to analysts’ expectations of $822.54 million. During the same period in the previous year, the company earned $0.64 earnings per share. Chesapeake Energy’s revenue for the quarter was down 73.3% on a year-over-year basis. As a group, analysts forecast that Chesapeake Energy Co. will post 1.43 earnings per share for the current fiscal year.

Chesapeake Energy Cuts Dividend

The business also recently disclosed 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. This represents a $2.30 dividend on an annualized basis and a yield of 2.82%. The ex-dividend date of this dividend was Thursday, August 15th. Chesapeake Energy’s payout ratio is 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.