Chesapeake Energy (NASDAQ:CHK) Issues Quarterly Earnings Results

Chesapeake Energy (NASDAQ:CHK) issued its earnings results on Monday. The company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.02 by ($0.01), Briefing.com reports. The company had revenue of $505.00 million during the quarter, compared to analysts’ expectations of $822.54 million. Chesapeake Energy had a net margin of 8.68% and a return on equity of 4.00%. The firm’s quarterly revenue was down 73.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.64 earnings per share.

Chesapeake Energy Stock Up 0.1 %

CHK opened at $76.33 on Thursday. The business has a 50 day simple moving average of $84.18 and a 200-day simple moving average of $84.21. The stock has a market capitalization of $10.02 billion, a P/E ratio of 10.29 and a beta of 0.47. Chesapeake Energy has a 12 month low of $72.84 and a 12 month high of $93.58. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.16 and a quick ratio of 2.33.

Chesapeake Energy Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 5th. Stockholders of record on Thursday, August 15th will be issued a $0.575 dividend. The ex-dividend date is Thursday, August 15th. This represents a $2.30 annualized dividend and a dividend yield of 3.01%. Chesapeake Energy’s dividend payout ratio is currently 31.00%.

Analyst Ratings Changes

A number of research firms have recently weighed in on CHK. KeyCorp began coverage on Chesapeake Energy in a report on Thursday, June 27th. They set a “sector weight” rating for the company. Scotiabank increased their price objective on Chesapeake Energy from $92.00 to $110.00 and gave the company a “sector perform” rating in a report on Thursday, April 11th. Jefferies Financial Group dropped their price objective on Chesapeake Energy from $118.00 to $115.00 and set a “buy” rating on the stock in a report on Wednesday, April 10th. Mizuho increased their price objective on Chesapeake Energy from $101.00 to $111.00 and gave the company a “buy” rating in a report on Monday, May 13th. Finally, Stephens increased their price objective on Chesapeake Energy from $117.00 to $118.00 and gave the company an “equal weight” rating in a report on Tuesday. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $106.69.

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.