Chesapeake Energy Co. (NASDAQ:CHK) Shares Acquired by Jennison Associates LLC

Jennison Associates LLC increased its stake in shares of Chesapeake Energy Co. (NASDAQ:CHK) by 1.3% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 200,083 shares of the company’s stock after purchasing an additional 2,531 shares during the period. Jennison Associates LLC owned 0.15% of Chesapeake Energy worth $17,773,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of CHK. Scout Investments Inc. acquired a new position in Chesapeake Energy in the 4th quarter valued at $32,079,000. Dimensional Fund Advisors LP lifted its position in Chesapeake Energy by 15.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,958,837 shares of the company’s stock worth $150,723,000 after buying an additional 265,853 shares during the period. Vanguard Group Inc. boosted its stake in Chesapeake Energy by 2.0% in the 3rd quarter. Vanguard Group Inc. now owns 12,852,961 shares of the company’s stock worth $1,108,311,000 after buying an additional 257,880 shares during the last quarter. Vest Financial LLC acquired a new position in shares of Chesapeake Energy during the 1st quarter valued at about $19,550,000. Finally, Massachusetts Financial Services Co. MA increased its stake in shares of Chesapeake Energy by 5.2% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 4,317,920 shares of the company’s stock valued at $332,221,000 after acquiring an additional 213,235 shares during the last quarter. Hedge funds and other institutional investors own 97.93% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on CHK shares. Mizuho increased their target price on Chesapeake Energy from $101.00 to $111.00 and gave the stock a “buy” rating in a research report on Monday, May 13th. UBS Group lifted their target price on Chesapeake Energy from $92.00 to $94.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 10th. Stephens boosted their price target on Chesapeake Energy from $116.00 to $117.00 and gave the stock an “equal weight” rating in a research note on Wednesday, May 1st. Truist Financial lowered their price objective on Chesapeake Energy from $119.00 to $112.00 and set a “buy” rating for the company in a research note on Friday, April 5th. Finally, KeyCorp assumed coverage on Chesapeake Energy in a research report on Thursday, June 27th. They issued a “sector weight” rating on the stock. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, Chesapeake Energy currently has an average rating of “Hold” and a consensus price target of $106.67.

Chesapeake Energy Trading Down 0.3 %

NASDAQ:CHK traded down $0.28 on Tuesday, reaching $82.32. The company’s stock had a trading volume of 1,017,406 shares, compared to its average volume of 1,876,487. Chesapeake Energy Co. has a 1-year low of $72.84 and a 1-year high of $93.58. The company has a debt-to-equity ratio of 0.19, a quick ratio of 2.33 and a current ratio of 2.33. The firm has a market cap of $10.79 billion, a PE ratio of 11.13 and a beta of 0.47. The business’s 50-day moving average price is $87.18 and its two-hundred day moving average price is $83.98.

Chesapeake Energy (NASDAQ:CHK) last announced its earnings results on Tuesday, April 30th. The company reported $0.56 EPS for the quarter, missing the consensus estimate of $0.64 by ($0.08). The business had revenue of $1.08 billion for the quarter, compared to analyst estimates of $674.99 million. Chesapeake Energy had a return on equity of 4.87% and a net margin of 16.42%. During the same quarter in the previous year, the company posted $1.87 EPS. Equities research analysts anticipate that Chesapeake Energy Co. will post 0.98 earnings per share for the current fiscal year.

Chesapeake Energy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 5th. Shareholders of record on Thursday, May 16th were given a dividend of $0.715 per share. This represents a $2.86 dividend on an annualized basis and a dividend yield of 3.47%. The ex-dividend date of this dividend was Wednesday, May 15th. This is a positive change from Chesapeake Energy’s previous quarterly dividend of $0.58. Chesapeake Energy’s dividend payout ratio is presently 31.00%.

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.