Chesapeake Energy (NASDAQ:CHK) PT Lowered to $96.00

Chesapeake Energy (NASDAQ:CHK) had its price objective decreased by Truist Financial from $108.00 to $96.00 in a report published on Monday, Benzinga reports. Truist Financial currently has a buy rating on the stock.

Several other research firms have also recently commented on CHK. UBS Group dropped their target price on shares of Chesapeake Energy from $93.00 to $85.00 and set a neutral rating on the stock in a research report on Wednesday, September 18th. StockNews.com raised shares of Chesapeake Energy to a sell rating in a research report on Wednesday, August 14th. KeyCorp started coverage on shares of Chesapeake Energy in a research report on Thursday, June 27th. They set a sector weight rating on the stock. Mizuho dropped their target price on shares of Chesapeake Energy from $111.00 to $105.00 and set an outperform rating on the stock in a research report on Monday, September 16th. Finally, Stephens lifted their target price on shares of Chesapeake Energy from $117.00 to $118.00 and gave the stock an equal weight rating in a research report on Tuesday, July 30th. One analyst has rated the stock with a sell rating, six have issued a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of Moderate Buy and an average target price of $99.92.

Chesapeake Energy Stock Performance

Chesapeake Energy has a 1 year low of $69.12 and a 1 year high of $93.58. The company has a market cap of $10.68 billion, a PE ratio of 27.69 and a beta of 0.47. The company has a debt-to-equity ratio of 0.19, a quick ratio of 2.16 and a current ratio of 2.16. The company has a fifty day simple moving average of $74.47 and a 200-day simple moving average of $82.59.

Chesapeake Energy (NASDAQ:CHK) last announced its quarterly earnings results on Monday, July 29th. The company reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.02 by ($0.01). Chesapeake Energy had a net margin of 8.68% and a return on equity of 4.00%. The business had revenue of $505.00 million during the quarter, compared to the consensus estimate of $822.54 million. During the same period in the previous year, the business posted $0.64 EPS. Chesapeake Energy’s revenue was down 73.3% compared to the same quarter last year. On average, sell-side analysts predict that Chesapeake Energy will post 1.43 EPS for the current year.

Chesapeake Energy Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 5th. Investors 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 yield of ∞. Chesapeake Energy’s dividend payout ratio is 31.00%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Sanctuary Advisors LLC purchased a new position in shares of Chesapeake Energy during the 2nd quarter valued at $956,000. Clearbridge Investments LLC grew its position in shares of Chesapeake Energy by 3.3% during the 2nd quarter. Clearbridge Investments LLC now owns 474,459 shares of the company’s stock valued at $38,996,000 after purchasing an additional 14,951 shares in the last quarter. Teachers Retirement System of The State of Kentucky grew its position in shares of Chesapeake Energy by 133.8% during the 2nd quarter. Teachers Retirement System of The State of Kentucky now owns 84,493 shares of the company’s stock valued at $6,945,000 after purchasing an additional 48,348 shares in the last quarter. Creative Planning lifted its holdings in shares of Chesapeake Energy by 4.6% during the 2nd quarter. Creative Planning now owns 19,352 shares of the company’s stock worth $1,591,000 after acquiring an additional 857 shares during the last quarter. Finally, Susquehanna Fundamental Investments LLC lifted its holdings in shares of Chesapeake Energy by 72.4% during the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 141,413 shares of the company’s stock worth $11,623,000 after acquiring an additional 59,400 shares during the last quarter. 97.93% of the stock is currently owned by hedge funds and other institutional investors.

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.