Crossmark Global Holdings Inc. Reduces Stock Position in Chesapeake Energy Co. (NASDAQ:CHK)

Crossmark Global Holdings Inc. lowered its holdings in shares of Chesapeake Energy Co. (NASDAQ:CHK) by 13.0% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 6,310 shares of the company’s stock after selling 942 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in Chesapeake Energy were worth $519,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Principal Securities Inc. purchased a new stake in shares of Chesapeake Energy in the 4th quarter worth $28,000. Lindbrook Capital LLC lifted its holdings in shares of Chesapeake Energy by 90.8% in the 1st quarter. Lindbrook Capital LLC now owns 374 shares of the company’s stock worth $33,000 after buying an additional 178 shares during the period. Allspring Global Investments Holdings LLC purchased a new stake in shares of Chesapeake Energy in the 1st quarter worth $37,000. BOKF NA purchased a new stake in shares of Chesapeake Energy in the 1st quarter worth $45,000. Finally, GAMMA Investing LLC lifted its holdings in shares of Chesapeake Energy by 75.6% in the 2nd quarter. GAMMA Investing LLC now owns 569 shares of the company’s stock worth $47,000 after buying an additional 245 shares during the period. Hedge funds and other institutional investors own 97.93% of the company’s stock.

Chesapeake Energy Stock Up 0.7 %

Shares of CHK stock opened at $74.49 on Monday. The stock’s 50-day simple moving average is $77.64 and its 200-day simple moving average is $83.61. 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 firm has a market capitalization of $9.76 billion, a PE ratio of 10.04 and a beta of 0.47. Chesapeake Energy Co. has a fifty-two week low of $69.42 and a fifty-two week high of $93.58.

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

Chesapeake Energy Cuts Dividend

The company 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. This represents a $2.30 dividend on an annualized basis and a dividend yield of 3.09%. The ex-dividend date of this dividend is Thursday, August 15th. Chesapeake Energy’s dividend payout ratio is presently 31.00%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. KeyCorp assumed coverage on Chesapeake Energy in a research note on Thursday, June 27th. They set a “sector weight” rating for the company. Scotiabank decreased their price objective on Chesapeake Energy from $110.00 to $105.00 and set a “sector perform” rating for the company in a research note on Tuesday, August 20th. StockNews.com upgraded Chesapeake Energy to a “sell” rating in a research note on Wednesday, August 14th. Wolfe Research started coverage on Chesapeake Energy in a research report on Thursday, July 18th. They set an “outperform” rating and a $110.00 target price on the stock. Finally, Mizuho upped their target price on Chesapeake Energy from $101.00 to $111.00 and gave the company a “buy” rating in a research report on Monday, May 13th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target 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.