Hazlett Burt & Watson Inc. Has $579,000 Stake in Chesapeake Energy Co. (NASDAQ:CHK)

Hazlett Burt & Watson Inc. boosted its holdings in shares of Chesapeake Energy Co. (NASDAQ:CHK) by 244.4% in the 2nd quarter, Holdings Channel.com reports. The firm owned 7,050 shares of the company’s stock after purchasing an additional 5,003 shares during the quarter. Hazlett Burt & Watson Inc.’s holdings in Chesapeake Energy were worth $579,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CHK. Daiwa Securities Group Inc. boosted its position in shares of Chesapeake Energy by 5.4% in the second quarter. Daiwa Securities Group Inc. now owns 7,813 shares of the company’s stock valued at $642,000 after acquiring an additional 400 shares during the period. Texas Permanent School Fund Corp raised its position in shares of Chesapeake Energy by 5.3% during the second quarter. Texas Permanent School Fund Corp now owns 102,491 shares of the company’s stock valued at $8,424,000 after buying an additional 5,191 shares during the last quarter. Choreo LLC acquired a new stake in Chesapeake Energy during the second quarter worth about $323,000. Acadian Asset Management LLC bought a new position in Chesapeake Energy during the second quarter valued at about $861,000. Finally, Victory Capital Management Inc. raised its holdings in Chesapeake Energy by 5.1% in the 2nd quarter. Victory Capital Management Inc. now owns 141,881 shares of the company’s stock valued at $11,661,000 after acquiring an additional 6,830 shares in the last quarter. Institutional investors and hedge funds own 97.93% of the company’s stock.

Chesapeake Energy Stock Performance

Shares of NASDAQ:CHK opened at $70.72 on Wednesday. The stock has a market capitalization of $9.27 billion, a P/E ratio of 9.53 and a beta of 0.46. Chesapeake Energy Co. has a 1-year low of $69.12 and a 1-year high of $93.58. The company has a current ratio of 2.16, a quick ratio of 2.16 and a debt-to-equity ratio of 0.19. The business has a 50-day moving average price of $76.03 and a two-hundred day moving average price of $83.18.

Chesapeake Energy (NASDAQ:CHK) last announced its quarterly earnings results on Monday, July 29th. The company reported $0.01 EPS for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.01). The company had revenue of $505.00 million during the quarter, compared to the consensus estimate of $822.54 million. Chesapeake Energy had a net margin of 8.68% and a return on equity of 4.00%. The business’s revenue was down 73.3% compared to the same quarter last year. During the same period last year, the company earned $0.64 earnings per share. Equities analysts predict that Chesapeake Energy Co. will post 1.32 earnings per share for the current year.

Chesapeake Energy Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 5th. Stockholders of record on Thursday, August 15th were paid a $0.575 dividend. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $2.30 dividend on an annualized basis and a dividend yield of 3.25%. Chesapeake Energy’s dividend payout ratio (DPR) is presently 31.00%.

Analyst Upgrades and Downgrades

CHK has been the subject of several research reports. Scotiabank reduced their target price on Chesapeake Energy from $110.00 to $105.00 and set a “sector perform” rating for the company in a research report on Tuesday, August 20th. Truist Financial reduced their target price on shares of Chesapeake Energy from $112.00 to $108.00 and set a “buy” rating on the stock in a research note on Monday, July 22nd. Stephens boosted their target price on shares of Chesapeake Energy from $117.00 to $118.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 30th. KeyCorp assumed coverage on Chesapeake Energy in a report on Thursday, June 27th. They issued a “sector weight” rating for the company. Finally, StockNews.com raised Chesapeake Energy to a “sell” rating in a report on Wednesday, August 14th. One research 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. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $107.17.

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.