Chesapeake Energy (NASDAQ:CHK) Given New $105.00 Price Target at Scotiabank

Chesapeake Energy (NASDAQ:CHK) had its target price cut by Scotiabank from $110.00 to $105.00 in a research report sent to investors on Tuesday morning, Benzinga reports. They currently have a sector perform rating on the stock.

Several other analysts have also issued reports on the stock. Benchmark dropped their target price on shares of Chesapeake Energy from $107.00 to $93.00 and set a buy rating on the stock in a research report on Thursday, May 2nd. Truist Financial cut their price objective on Chesapeake Energy from $112.00 to $108.00 and set a buy rating for the company in a research note on Monday, July 22nd. KeyCorp started coverage on Chesapeake Energy in a research report on Thursday, June 27th. They issued a sector weight rating on the stock. Stephens boosted their price target on Chesapeake Energy from $117.00 to $118.00 and gave the stock an equal weight rating in a research report on Tuesday, July 30th. Finally, Wolfe Research initiated coverage on Chesapeake Energy in a report on Thursday, July 18th. They issued an outperform rating and a $110.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of Hold and a consensus target price of $107.17.

Chesapeake Energy Stock Up 2.6 %

CHK opened at $73.44 on Tuesday. The company has a fifty day moving average of $78.90 and a two-hundred day moving average of $83.63. The company has a debt-to-equity ratio of 0.19, a quick ratio of 2.33 and a current ratio of 2.16. Chesapeake Energy has a fifty-two week low of $69.42 and a fifty-two week high of $93.58. The stock has a market capitalization of $9.62 billion, a price-to-earnings ratio of 9.90 and a beta of 0.47.

Chesapeake Energy (NASDAQ:CHK) last issued its quarterly earnings results on Monday, July 29th. The company reported $0.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.01). The business had revenue of $505.00 million for the quarter, compared to analysts’ expectations of $822.54 million. Chesapeake Energy had a return on equity of 4.00% and a net margin of 8.68%. The business’s revenue for the quarter was down 73.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.64 EPS. On average, research analysts expect that Chesapeake Energy will post 1.34 earnings per share for the current year.

Chesapeake Energy Cuts Dividend

The business also recently disclosed 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 of this dividend is Thursday, August 15th. This represents a $2.30 annualized dividend and a dividend yield of 3.13%. Chesapeake Energy’s dividend payout ratio is currently 31.00%.

Institutional Trading of Chesapeake Energy

Institutional investors have recently added to or reduced their stakes in the stock. Aurora Investment Counsel lifted its position in shares of Chesapeake Energy by 1.1% during the first quarter. Aurora Investment Counsel now owns 11,930 shares of the company’s stock worth $1,060,000 after purchasing an additional 135 shares in the last quarter. Signaturefd LLC lifted its holdings in Chesapeake Energy by 16.5% during the 4th quarter. Signaturefd LLC now owns 1,250 shares of the company’s stock worth $96,000 after buying an additional 177 shares in the last quarter. Lindbrook Capital LLC boosted its position in Chesapeake Energy by 90.8% in the 1st quarter. Lindbrook Capital LLC now owns 374 shares of the company’s stock valued at $33,000 after buying an additional 178 shares during the period. Clear Harbor Asset Management LLC grew its stake in shares of Chesapeake Energy by 1.3% in the second quarter. Clear Harbor Asset Management LLC now owns 13,895 shares of the company’s stock worth $1,142,000 after acquiring an additional 180 shares in the last quarter. Finally, Toronto Dominion Bank increased its position in shares of Chesapeake Energy by 1.9% during the second quarter. Toronto Dominion Bank now owns 10,205 shares of the company’s stock worth $839,000 after acquiring an additional 186 shares during the period. Institutional investors and hedge funds own 97.93% of the company’s stock.

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.