Brokerages Set Chesapeake Energy Co. (NASDAQ:CHK) Target Price at $106.67

Chesapeake Energy Co. (NASDAQ:CHK) has been given a consensus rating of “Moderate Buy” by the thirteen research firms that are currently covering the company, Marketbeat reports. Six research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $105.92.

Several brokerages have recently issued reports on CHK. StockNews.com upgraded shares of Chesapeake Energy to a “sell” rating in a report on Wednesday, August 14th. Stephens upped their target price on Chesapeake Energy from $117.00 to $118.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 30th. Mizuho cut their price target on Chesapeake Energy from $111.00 to $105.00 and set an “outperform” rating on the stock in a research note on Monday. KeyCorp assumed coverage on Chesapeake Energy in a research note on Thursday, June 27th. They issued a “sector weight” rating for the company. Finally, Wolfe Research initiated coverage on shares of Chesapeake Energy in a report on Thursday, July 18th. They issued an “outperform” rating and a $110.00 price objective for the company.

Institutional Trading of Chesapeake Energy

A number of institutional investors have recently bought and sold shares of the company. Principal Securities Inc. bought a new position in shares of Chesapeake Energy during the 4th quarter worth approximately $28,000. Lindbrook Capital LLC boosted its stake in 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 acquiring an additional 178 shares in the last quarter. Allspring Global Investments Holdings LLC acquired a new stake in Chesapeake Energy in the first quarter worth $37,000. BOKF NA bought a new stake in Chesapeake Energy in the first quarter valued at $45,000. Finally, GAMMA Investing LLC raised its holdings in shares of Chesapeake Energy by 75.6% during the second quarter. GAMMA Investing LLC now owns 569 shares of the company’s stock valued at $47,000 after purchasing an additional 245 shares during the period. Institutional investors own 97.93% of the company’s stock.

Chesapeake Energy Stock Performance

Chesapeake Energy stock opened at $76.57 on Tuesday. The stock has a market cap of $10.03 billion, a PE ratio of 10.32 and a beta of 0.46. The company has a quick ratio of 2.16, a current ratio of 2.16 and a debt-to-equity ratio of 0.19. Chesapeake Energy has a 12-month low of $69.12 and a 12-month high of $93.58. The business’s 50-day moving average price is $74.85 and its two-hundred day moving average price is $82.79.

Chesapeake Energy (NASDAQ:CHK) last released its quarterly earnings data on Monday, July 29th. The company reported $0.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.01). The company had revenue of $505.00 million for the quarter, compared to analyst estimates of $822.54 million. Chesapeake Energy had a return on equity of 4.00% and a net margin of 8.68%. Chesapeake Energy’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 earned $0.64 earnings per share. As a group, analysts expect that Chesapeake Energy will post 1.32 earnings per share for the current fiscal year.

Chesapeake Energy Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 5th. Stockholders of record on Thursday, August 15th were paid a $0.575 dividend. This represents a $2.30 dividend on an annualized basis and a dividend yield of 3.00%. The ex-dividend date of this dividend was Thursday, August 15th. Chesapeake Energy’s dividend payout ratio 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.