Chesapeake Energy Co. (NASDAQ:CHK) Given Consensus Rating of “Moderate Buy” by Brokerages

Chesapeake Energy Co. (NASDAQ:CHK) has been given a consensus recommendation of “Moderate Buy” by the fifteen brokerages that are covering the stock, MarketBeat.com reports. Six equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating on the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $99.92.

A number of equities analysts have issued reports on CHK shares. Roth Capital raised shares of Chesapeake Energy to a “strong-buy” rating in a research note on Friday, September 27th. Scotiabank decreased their price objective on Chesapeake Energy from $110.00 to $105.00 and set a “sector perform” rating for the company in a research note on Tuesday, August 20th. UBS Group cut their target price on Chesapeake Energy from $93.00 to $85.00 and set a “neutral” rating on the stock in a research note on Wednesday, September 18th. StockNews.com upgraded Chesapeake Energy to a “sell” rating in a research report on Wednesday, August 14th. Finally, Truist Financial cut their price target on shares of Chesapeake Energy from $108.00 to $96.00 and set a “buy” rating on the stock in a research report on Monday, September 30th.

Chesapeake Energy Price Performance

NASDAQ CHK opened at $81.46 on Friday. The stock has a market capitalization of $10.68 billion, a P/E ratio of 10.98 and a beta of 0.47. Chesapeake Energy has a 52 week low of $69.12 and a 52 week high of $93.58. 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 stock has a fifty day moving average of $75.32 and a 200-day moving average of $82.34.

Chesapeake Energy (NASDAQ:CHK) last announced its quarterly earnings data on Monday, July 29th. The company reported $0.01 EPS for the quarter, missing analysts’ consensus estimates 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 analyst estimates of $822.54 million. During the same quarter in the previous year, the business earned $0.64 earnings per share. Chesapeake Energy’s revenue for the quarter was down 73.3% compared to the same quarter last year. On average, equities research analysts forecast that Chesapeake Energy will post 1.43 EPS for the current year.

Chesapeake Energy Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 5th. Shareholders of record on Thursday, August 15th were paid a $0.575 dividend. This represents a $2.30 annualized dividend and a dividend yield of 2.82%. The ex-dividend date of this dividend was Thursday, August 15th. Chesapeake Energy’s dividend payout ratio is 31.00%.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. Allspring Global Investments Holdings LLC bought a new position in Chesapeake Energy in the first quarter valued at $37,000. BOKF NA bought a new position in shares of Chesapeake Energy in the 1st quarter valued at about $45,000. GAMMA Investing LLC increased its position in shares of Chesapeake Energy by 75.6% in the second quarter. GAMMA Investing LLC now owns 569 shares of the company’s stock valued at $47,000 after acquiring an additional 245 shares during the last quarter. Blue Trust Inc. boosted its position in Chesapeake Energy by 895.6% during the second quarter. Blue Trust Inc. now owns 677 shares of the company’s stock valued at $60,000 after purchasing an additional 609 shares during the last quarter. Finally, Mather Group LLC. grew its stake in Chesapeake Energy by 1,384.8% in the second quarter. Mather Group LLC. now owns 683 shares of the company’s stock valued at $61,000 after purchasing an additional 637 shares in the last quarter. 97.93% of the stock is currently owned by institutional investors.

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.