Chesapeake Energy Co. (NASDAQ:CHK) Shares Sold by Commonwealth Equity Services LLC

Commonwealth Equity Services LLC trimmed its holdings in shares of Chesapeake Energy Co. (NASDAQ:CHK) by 17.1% in the second quarter, HoldingsChannel reports. The firm owned 23,919 shares of the company’s stock after selling 4,947 shares during the period. Commonwealth Equity Services LLC’s holdings in Chesapeake Energy were worth $1,966,000 at the end of the most recent reporting period.

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

Wall Street Analyst Weigh In

Several brokerages have weighed in on CHK. Wolfe Research started coverage on Chesapeake Energy in a report on Thursday, July 18th. They set an “outperform” rating and a $110.00 price objective for the company. Stephens raised 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 note on Tuesday, July 30th. Scotiabank decreased their price objective on Chesapeake Energy from $110.00 to $105.00 and set a “sector perform” rating on the stock in a report on Tuesday, August 20th. Truist Financial dropped their price target on shares of Chesapeake Energy from $112.00 to $108.00 and set a “buy” rating for the company in a research report on Monday, July 22nd. Finally, StockNews.com upgraded shares of Chesapeake Energy to a “sell” rating in a research note on Wednesday, August 14th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $107.17.

Chesapeake Energy Stock Performance

Shares of CHK stock opened at $73.22 on Friday. Chesapeake Energy Co. has a 12 month low of $69.12 and a 12 month 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 firm has a market capitalization of $9.61 billion, a price-to-earnings ratio of 9.87 and a beta of 0.46. The business’s 50-day moving average price is $75.40 and its 200-day moving average price is $82.97.

Chesapeake Energy (NASDAQ:CHK) last issued 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). The company 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 company’s quarterly revenue was down 73.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.64 EPS. Equities research analysts forecast that Chesapeake Energy Co. will post 1.32 EPS for the current year.

Chesapeake Energy Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 5th. Shareholders of record on Thursday, August 15th were paid a $0.575 dividend. This represents a $2.30 annualized dividend and a yield of 3.14%. The ex-dividend date was Thursday, August 15th. Chesapeake Energy’s dividend payout ratio (DPR) is currently 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.