Chesapeake Energy Co. (NASDAQ:CHK) Sees Significant Decline in Short Interest

Chesapeake Energy Co. (NASDAQ:CHK) was the recipient of a significant decline in short interest during the month of August. As of August 31st, there was short interest totalling 19,020,000 shares, a decline of 7.4% from the August 15th total of 20,530,000 shares. Based on an average trading volume of 1,850,000 shares, the short-interest ratio is currently 10.3 days. Currently, 17.6% of the shares of the stock are sold short.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. UBS Group dropped their target price on shares of Chesapeake Energy from $93.00 to $85.00 and set a “neutral” rating for the company in a report on Wednesday. Wolfe Research started coverage on shares of Chesapeake Energy in a research note on Thursday, July 18th. They set an “outperform” rating and a $110.00 price objective for the company. Mizuho decreased 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 note on Monday. StockNews.com upgraded Chesapeake Energy to a “sell” rating in a report on Wednesday, August 14th. Finally, Stephens increased their price target on Chesapeake Energy from $117.00 to $118.00 and gave the company an “equal weight” rating in a report on Tuesday, July 30th. One 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 MarketBeat, the company presently has an average rating of “Hold” and an average price target of $105.92.

Chesapeake Energy Trading Up 2.4 %

Chesapeake Energy stock traded up $1.78 during mid-day trading on Wednesday, hitting $75.12. The company’s stock had a trading volume of 1,209,340 shares, compared to its average volume of 1,884,283. The stock’s fifty day moving average is $75.02 and its two-hundred day moving average is $82.84. 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 $9.84 billion, a PE ratio of 10.08 and a beta of 0.46. Chesapeake Energy has a 1 year low of $69.12 and a 1 year high of $93.58.

Chesapeake Energy (NASDAQ:CHK) last released its quarterly earnings results 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 business had revenue of $505.00 million for the quarter, compared to analysts’ expectations of $822.54 million. Chesapeake Energy had a return on equity of 4.00% and a net margin of 8.68%. The business’s revenue for the quarter was down 73.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.64 earnings per share. On average, analysts anticipate that Chesapeake Energy 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 given a dividend of $0.575 per share. This represents a $2.30 dividend on an annualized basis and a dividend yield of 3.06%. The ex-dividend date was Thursday, August 15th. Chesapeake Energy’s dividend payout ratio is presently 31.00%.

Institutional Investors Weigh In On Chesapeake Energy

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Aurora Investment Counsel increased its holdings in Chesapeake Energy by 1.1% in the 1st quarter. Aurora Investment Counsel now owns 11,930 shares of the company’s stock valued at $1,060,000 after purchasing an additional 135 shares during the last quarter. Lindbrook Capital LLC boosted its position 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 period. Clear Harbor Asset Management LLC grew its stake in shares of Chesapeake Energy by 1.3% in the second quarter. Clear Harbor Asset Management LLC now owns 13,895 shares of the company’s stock valued at $1,142,000 after buying an additional 180 shares in the last quarter. Toronto Dominion Bank grew its stake in shares of Chesapeake Energy by 1.9% in the second quarter. Toronto Dominion Bank now owns 10,205 shares of the company’s stock valued at $839,000 after buying an additional 186 shares in the last quarter. Finally, Abich Financial Wealth Management LLC lifted its stake in Chesapeake Energy by 32.4% during the 1st quarter. Abich Financial Wealth Management LLC now owns 900 shares of the company’s stock worth $80,000 after acquiring an additional 220 shares in the last quarter. 97.93% of the stock is owned by hedge funds and other institutional investors.

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.