Capital One Financial Weighs in on Chesapeake Energy Co.’s Q3 2024 Earnings (NASDAQ:CHK)

Chesapeake Energy Co. (NASDAQ:CHK) – Equities research analysts at Capital One Financial cut their Q3 2024 EPS estimates for Chesapeake Energy in a note issued to investors on Tuesday, September 17th. Capital One Financial analyst P. Johnston now anticipates that the company will post earnings per share of ($0.10) for the quarter, down from their previous estimate of $0.18. The consensus estimate for Chesapeake Energy’s current full-year earnings is $1.32 per share. Capital One Financial also issued estimates for Chesapeake Energy’s FY2024 earnings at $0.79 EPS, Q1 2025 earnings at $0.66 EPS, Q2 2025 earnings at $0.23 EPS, Q3 2025 earnings at $0.28 EPS, Q4 2025 earnings at $0.74 EPS, FY2025 earnings at $1.91 EPS and FY2026 earnings at $3.97 EPS.

Other equities research analysts have also issued reports about the company. Wolfe Research began coverage on Chesapeake Energy in a report on Thursday, July 18th. They set an “outperform” rating and a $110.00 price target for the company. Stephens lifted their target price on shares of Chesapeake Energy from $117.00 to $118.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 30th. UBS Group dropped their price target on shares of Chesapeake Energy from $93.00 to $85.00 and set a “neutral” rating on the stock in a research note on Wednesday. KeyCorp assumed coverage on shares of Chesapeake Energy in a report on Thursday, June 27th. They set a “sector weight” rating on the stock. Finally, Truist Financial decreased their price objective on shares of Chesapeake Energy from $112.00 to $108.00 and set a “buy” rating for the company in a report on Monday, July 22nd. One analyst has rated the stock with a sell rating, six have issued a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, Chesapeake Energy presently has an average rating of “Hold” and a consensus target price of $105.92.

Chesapeake Energy Stock Performance

Shares of NASDAQ CHK opened at $76.57 on Friday. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.16 and a quick ratio of 2.16. Chesapeake Energy has a one year low of $69.12 and a one year 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. The company has a market capitalization of $10.03 billion, a P/E ratio of 10.32 and a beta of 0.46.

Chesapeake Energy (NASDAQ:CHK) last posted its quarterly earnings results on Monday, July 29th. The company reported $0.01 EPS for the quarter, missing the consensus estimate of $0.02 by ($0.01). Chesapeake Energy had a net margin of 8.68% and a return on equity of 4.00%. The company had revenue of $505.00 million for the quarter, compared to analysts’ expectations of $822.54 million. During the same quarter in the prior year, the firm earned $0.64 earnings per share. The company’s revenue was down 73.3% on a year-over-year basis.

Institutional Trading of Chesapeake Energy

Several hedge funds have recently added to or reduced their stakes in CHK. Wealth Enhancement Advisory Services LLC boosted its position in shares of Chesapeake Energy by 705.4% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 29,229 shares of the company’s stock valued at $2,402,000 after acquiring an additional 25,600 shares during the period. Quantbot Technologies LP bought a new stake in Chesapeake Energy in the 1st quarter valued at $1,006,000. Russell Investments Group Ltd. boosted its holdings in Chesapeake Energy by 66.4% in the 1st quarter. Russell Investments Group Ltd. now owns 119,470 shares of the company’s stock valued at $10,612,000 after purchasing an additional 47,658 shares during the period. Allspring Global Investments Holdings LLC acquired a new stake in Chesapeake Energy in the 1st quarter worth $37,000. Finally, Wedge Capital Management L L P NC increased its holdings in shares of Chesapeake Energy by 16.2% during the 2nd quarter. Wedge Capital Management L L P NC now owns 284,263 shares of the company’s stock worth $23,364,000 after purchasing an additional 39,734 shares during the period. Institutional investors own 97.93% of the company’s stock.

Chesapeake Energy Cuts Dividend

The firm 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. The ex-dividend date was Thursday, August 15th. This represents a $2.30 dividend on an annualized basis and a dividend yield of 3.00%. Chesapeake Energy’s payout ratio is presently 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.