Creative Planning Boosts Stock Holdings in Chesapeake Energy Co. (NASDAQ:CHK)

Creative Planning lifted its stake in shares of Chesapeake Energy Co. (NASDAQ:CHK) by 12.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 21,724 shares of the company’s stock after purchasing an additional 2,372 shares during the period. Creative Planning’s holdings in Chesapeake Energy were worth $1,787,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in CHK. Allspring Global Investments Holdings LLC purchased a new position in shares of Chesapeake Energy in the first quarter worth about $37,000. BOKF NA bought a new position in shares of Chesapeake Energy in the first quarter worth $45,000. GAMMA Investing LLC boosted its stake in Chesapeake Energy by 75.6% in the 2nd quarter. GAMMA Investing LLC now owns 569 shares of the company’s stock worth $47,000 after purchasing an additional 245 shares during the period. Blue Trust Inc. increased its holdings in Chesapeake Energy by 895.6% during the 2nd quarter. Blue Trust Inc. now owns 677 shares of the company’s stock worth $60,000 after acquiring an additional 609 shares during the period. Finally, Mather Group LLC. raised its position in shares of Chesapeake Energy by 1,384.8% in the second quarter. Mather Group LLC. now owns 683 shares of the company’s stock worth $61,000 after buying an additional 637 shares in the last quarter. Institutional investors own 97.93% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Wells Fargo & Company boosted their price objective on Chesapeake Energy from $77.00 to $83.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 1st. StockNews.com upgraded Chesapeake Energy to a “sell” rating in a report on Wednesday, August 14th. Mizuho decreased 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, September 16th. Truist Financial lowered their price target on Chesapeake Energy from $108.00 to $96.00 and set a “buy” rating for the company in a research report on Monday, September 30th. Finally, Roth Mkm initiated coverage on shares of Chesapeake Energy in a research note on Friday, September 27th. They set a “buy” rating and a $92.00 target price on the stock. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Chesapeake Energy presently has a consensus rating of “Moderate Buy” and an average target price of $99.92.

Chesapeake Energy Price Performance

Shares of Chesapeake Energy stock opened at $81.46 on Tuesday. The stock has a market capitalization of $10.68 billion, a PE ratio of 10.98 and a beta of 0.47. Chesapeake Energy Co. has a 52-week low of $69.12 and a 52-week high of $93.58. 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 company has a 50-day simple moving average of $76.83 and a two-hundred day simple moving average of $81.89.

Chesapeake Energy (NASDAQ:CHK) last posted 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 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 the consensus estimate of $822.54 million. During the same quarter in the prior year, the company posted $0.64 EPS. Chesapeake Energy’s revenue was down 73.3% on a year-over-year basis. On average, analysts anticipate that Chesapeake Energy Co. will post 1.43 EPS for the current fiscal year.

About Chesapeake Energy

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.