Chesapeake Energy (NASDAQ:EXE) Releases Quarterly Earnings Results, Beats Estimates By $0.15 EPS

Chesapeake Energy (NASDAQ:EXE) announced its quarterly earnings results on Tuesday. The company reported $0.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.01 by $0.15, Briefing.com reports. The company had revenue of $648.00 million during the quarter, compared to the consensus estimate of $708.98 million. Chesapeake Energy had a net margin of 6.07% and a return on equity of 2.74%. The company’s revenue for the quarter was down 57.1% compared to the same quarter last year. During the same period in the prior year, the business earned $1.09 earnings per share.

Chesapeake Energy Price Performance

EXE stock traded down $1.47 during trading on Friday, hitting $83.25. 538,350 shares of the company’s stock traded hands, compared to its average volume of 2,033,028. Chesapeake Energy has a 52 week low of $69.12 and a 52 week high of $93.58. The company has a quick ratio of 2.16, a current ratio of 2.00 and a debt-to-equity ratio of 0.20. The firm has a market capitalization of $10.93 billion, a P/E ratio of 52.30 and a beta of 0.47.

Chesapeake Energy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 4th. Investors of record on Thursday, November 14th will be paid a dividend of $0.575 per share. The ex-dividend date of this dividend is Thursday, November 14th. This represents a $2.30 annualized dividend and a yield of 2.76%. Chesapeake Energy’s payout ratio is 141.98%.

Analysts Set New Price Targets

A number of analysts recently weighed in on EXE shares. Citigroup increased their price objective on Chesapeake Energy from $90.00 to $97.00 and gave the company a “buy” rating in a report on Tuesday, October 8th. UBS Group increased their price objective on shares of Chesapeake Energy from $85.00 to $89.00 and gave the company a “neutral” rating in a research note on Tuesday, October 8th. Bank of America initiated coverage on shares of Chesapeake Energy in a research report on Monday. They issued a “buy” rating and a $114.00 price objective on the stock. Stephens boosted their price target on shares of Chesapeake Energy from $85.00 to $86.00 and gave the company an “equal weight” rating in a research report on Wednesday. Finally, Roth Capital upgraded shares of Chesapeake Energy to a “strong-buy” rating in a research report on Friday, September 27th. Two equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $99.20.

Chesapeake Energy Company Profile

Expand Energy Corporation is an independent natural gas producer principally in the United States. Expand Energy Corporation, formerly known as Chesapeake Energy Corporation, is based in OKLAHOMA CITY.