Mackenzie Financial Corp Boosts Stock Holdings in Chesapeake Energy Co. (NASDAQ:CHK)

Mackenzie Financial Corp lifted its position in shares of Chesapeake Energy Co. (NASDAQ:CHK) by 54.0% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 174,123 shares of the company’s stock after acquiring an additional 61,077 shares during the quarter. Mackenzie Financial Corp owned approximately 0.13% of Chesapeake Energy worth $14,311,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD boosted its holdings in Chesapeake Energy by 233.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 9,059,644 shares of the company’s stock valued at $804,769,000 after purchasing an additional 6,338,963 shares during the period. Massachusetts Financial Services Co. MA raised its position in Chesapeake Energy by 7.6% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 4,119,498 shares of the company’s stock worth $338,582,000 after purchasing an additional 292,586 shares during the period. Kimmeridge Energy Management Company LLC boosted its holdings in Chesapeake Energy by 28.8% during the 2nd quarter. Kimmeridge Energy Management Company LLC now owns 3,694,879 shares of the company’s stock valued at $303,682,000 after acquiring an additional 827,000 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of Chesapeake Energy by 18.1% during the second quarter. Dimensional Fund Advisors LP now owns 3,333,769 shares of the company’s stock valued at $274,005,000 after purchasing an additional 510,664 shares during the period. Finally, Lord Abbett & CO. LLC boosted its position in Chesapeake Energy by 13.4% during the 1st quarter. Lord Abbett & CO. LLC now owns 2,599,352 shares of the company’s stock valued at $230,900,000 after buying an additional 307,814 shares during the period. Institutional investors own 97.93% of the company’s stock.

Chesapeake Energy Stock Performance

Shares of CHK opened at $82.60 on Monday. The business has a 50-day simple moving average of $74.43 and a two-hundred day simple moving average of $82.62. 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 Co. has a 52 week low of $69.12 and a 52 week high of $93.58. The stock has a market cap of $10.82 billion, a price-to-earnings ratio of 11.13 and a beta of 0.46.

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 firm had revenue of $505.00 million during the quarter, compared to analysts’ expectations of $822.54 million. During the same period in the prior year, the company posted $0.64 earnings per share. The company’s revenue was down 73.3% compared to the same quarter last year. On average, analysts expect that Chesapeake Energy Co. will post 1.43 EPS for the current year.

Chesapeake Energy Cuts Dividend

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

Analyst Upgrades and Downgrades

A number of brokerages recently commented on CHK. 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 report on Tuesday, August 20th. Roth Mkm started coverage on shares of Chesapeake Energy in a research note on Friday. They issued a “buy” rating and a $92.00 price target for the company. Truist Financial cut their price target on Chesapeake Energy from $112.00 to $108.00 and set a “buy” rating on the stock in a research note on Monday, July 22nd. Wolfe Research initiated coverage on shares of Chesapeake Energy in a research report on Thursday, July 18th. They set an “outperform” rating and a $110.00 price objective on the stock. Finally, Stephens increased 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. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $101.33.

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.