Susquehanna Fundamental Investments LLC Has $11.62 Million Stock Position in Chesapeake Energy Co. (NASDAQ:CHK)

Susquehanna Fundamental Investments LLC grew its position in Chesapeake Energy Co. (NASDAQ:CHK) by 72.4% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 141,413 shares of the company’s stock after buying an additional 59,400 shares during the period. Susquehanna Fundamental Investments LLC owned 0.11% of Chesapeake Energy worth $11,623,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Mackenzie Financial Corp increased its stake in shares of Chesapeake Energy by 54.0% in the 2nd quarter. Mackenzie Financial Corp now owns 174,123 shares of the company’s stock valued at $14,311,000 after buying an additional 61,077 shares during the period. MBB Public Markets I LLC acquired a new stake in shares of Chesapeake Energy during the second quarter worth $640,000. Deprince Race & Zollo Inc. grew its stake in shares of Chesapeake Energy by 10.0% during the second quarter. Deprince Race & Zollo Inc. now owns 439,873 shares of the company’s stock worth $36,153,000 after purchasing an additional 39,910 shares during the period. Alden Global Capital LLC grew its stake in shares of Chesapeake Energy by 90.2% during the second quarter. Alden Global Capital LLC now owns 45,987 shares of the company’s stock worth $3,780,000 after purchasing an additional 21,813 shares during the period. Finally, ELCO Management Co. LLC acquired a new stake in shares of Chesapeake Energy during the second quarter worth $205,000. 97.93% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on CHK shares. Roth Mkm started coverage on Chesapeake Energy in a research note on Friday. They issued a “buy” rating and a $92.00 target price for the company. Stephens boosted their target price on Chesapeake Energy from $117.00 to $118.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 30th. Wolfe Research started coverage on Chesapeake Energy in a research note on Thursday, July 18th. They issued an “outperform” rating and a $110.00 target price for the company. Mizuho decreased their target price on Chesapeake Energy from $111.00 to $105.00 and set an “outperform” rating for the company in a research note on Monday, September 16th. Finally, Scotiabank decreased their target price 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. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $101.33.

Chesapeake Energy Stock Performance

CHK opened at $82.60 on Friday. Chesapeake Energy Co. has a 52-week low of $69.12 and a 52-week high of $93.58. The firm has a market capitalization of $10.84 billion, a PE ratio of 11.13 and a beta of 0.46. 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 business’s 50-day simple moving average is $74.43 and its 200 day simple moving average is $82.64.

Chesapeake Energy (NASDAQ:CHK) last released its earnings results on Monday, July 29th. The company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.02 by ($0.01). Chesapeake Energy had a return on equity of 4.00% and a net margin of 8.68%. The company had revenue of $505.00 million for the quarter, compared to the consensus estimate of $822.54 million. During the same quarter in the previous year, the company posted $0.64 EPS. The business’s revenue was down 73.3% on a year-over-year basis. As a group, sell-side analysts expect that Chesapeake Energy Co. will post 1.43 earnings per share for the current fiscal year.

Chesapeake Energy Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 5th. Investors of record on Thursday, August 15th were issued a dividend of $0.575 per share. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $2.30 annualized dividend and a yield of 2.78%. Chesapeake Energy’s payout ratio is presently 31.00%.

Chesapeake Energy 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.