E&G Advisors LP Makes New $208,000 Investment in Chesapeake Energy Co. (NASDAQ:CHK)

E&G Advisors LP bought a new position in Chesapeake Energy Co. (NASDAQ:CHK) in the 1st quarter, according to its most recent filing with the SEC. The institutional investor bought 2,337 shares of the company’s stock, valued at approximately $208,000.

Several other hedge funds have also made changes to their positions in the company. DekaBank Deutsche Girozentrale lifted its holdings in shares of Chesapeake Energy by 1.6% in the 4th quarter. DekaBank Deutsche Girozentrale now owns 9,439 shares of the company’s stock worth $716,000 after buying an additional 151 shares during the period. Stratos Wealth Partners LTD. lifted its stake in shares of Chesapeake Energy by 4.3% during the 4th quarter. Stratos Wealth Partners LTD. now owns 3,761 shares of the company’s stock worth $289,000 after purchasing an additional 154 shares during the last quarter. Signaturefd LLC lifted its stake in shares of 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 purchasing an additional 177 shares during the last quarter. Hohimer Wealth Management LLC lifted its stake in shares of Chesapeake Energy by 1.5% during the 3rd quarter. Hohimer Wealth Management LLC now owns 13,528 shares of the company’s stock worth $1,167,000 after purchasing an additional 200 shares during the last quarter. Finally, Alhambra Investment Management LLC lifted its stake in shares of Chesapeake Energy by 5.5% during the 4th quarter. Alhambra Investment Management LLC now owns 6,016 shares of the company’s stock worth $463,000 after purchasing an additional 314 shares during the last quarter. 97.93% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on CHK shares. Mizuho upped their price objective on Chesapeake Energy from $101.00 to $111.00 and gave the stock a “buy” rating in a research note on Monday, May 13th. Scotiabank upped their price objective on Chesapeake Energy from $92.00 to $110.00 and gave the stock a “sector perform” rating in a research note on Thursday, April 11th. KeyCorp began coverage on Chesapeake Energy in a research note on Thursday, June 27th. They set a “sector weight” rating for the company. Jefferies Financial Group reduced their target price on Chesapeake Energy from $118.00 to $115.00 and set a “buy” rating on the stock in a research report on Wednesday, April 10th. Finally, Truist Financial reduced their target price on Chesapeake Energy from $119.00 to $112.00 and set a “buy” rating on the stock in a research report on Friday, April 5th. 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. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $106.67.

Chesapeake Energy Stock Up 0.7 %

Shares of CHK stock opened at $83.63 on Thursday. The stock’s 50-day simple moving average is $87.74 and its 200-day simple moving average is $83.79. 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 capitalization of $10.96 billion, a PE ratio of 11.27 and a beta of 0.47. Chesapeake Energy Co. has a fifty-two week low of $72.84 and a fifty-two week high of $93.58.

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

Chesapeake Energy Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 5th. Investors of record on Thursday, May 16th were issued a dividend of $0.715 per share. This represents a $2.86 annualized dividend and a yield of 3.42%. This is a positive change from Chesapeake Energy’s previous quarterly dividend of $0.58. The ex-dividend date was Wednesday, May 15th. Chesapeake Energy’s dividend payout ratio (DPR) is 31.00%.

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.