State of New Jersey Common Pension Fund D Has $3.22 Million Position in Chesapeake Energy Co. (NASDAQ:CHK)

State of New Jersey Common Pension Fund D cut its holdings in Chesapeake Energy Co. (NASDAQ:CHK) by 32.4% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 39,184 shares of the company’s stock after selling 18,759 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Chesapeake Energy were worth $3,221,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in CHK. Principal Securities Inc. bought a new stake in shares of Chesapeake Energy during the 4th quarter worth $28,000. Lindbrook Capital LLC lifted its position in Chesapeake Energy by 90.8% during the 1st quarter. Lindbrook Capital LLC now owns 374 shares of the company’s stock worth $33,000 after acquiring an additional 178 shares during the last quarter. Allspring Global Investments Holdings LLC bought a new stake in Chesapeake Energy during the first quarter valued at about $37,000. BOKF NA acquired a new stake in shares of Chesapeake Energy in the first quarter valued at about $45,000. Finally, GAMMA Investing LLC increased its stake in shares of Chesapeake Energy by 75.6% in the second 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. 97.93% of the stock is owned by institutional investors.

Chesapeake Energy Stock Up 0.4 %

Shares of NASDAQ:CHK opened at $73.34 on Wednesday. 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’s fifty day moving average is $75.02 and its 200-day moving average is $82.84. The company has a market capitalization of $9.61 billion, a PE ratio of 9.88 and a beta of 0.46.

Chesapeake Energy (NASDAQ:CHK) last issued its quarterly 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). 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%. The firm’s quarterly revenue was down 73.3% on a year-over-year basis. During the same quarter last year, the company earned $0.64 EPS. Equities research analysts predict that Chesapeake Energy Co. 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. Shareholders of record on Thursday, August 15th were issued a dividend of $0.575 per share. The ex-dividend date was Thursday, August 15th. This represents a $2.30 annualized dividend and a yield of 3.14%. Chesapeake Energy’s dividend payout ratio is currently 31.00%.

Wall Street Analyst Weigh In

CHK has been the topic of a number of research analyst reports. Wolfe Research started coverage on Chesapeake Energy in a report on Thursday, July 18th. They issued an “outperform” rating and a $110.00 target price on the stock. Stephens raised their price objective on shares of Chesapeake Energy from $117.00 to $118.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 30th. KeyCorp initiated coverage on shares of Chesapeake Energy in a research report on Thursday, June 27th. They set a “sector weight” rating on the stock. StockNews.com raised shares of Chesapeake Energy to a “sell” rating in a research report on Wednesday, August 14th. Finally, Truist Financial dropped their target price on shares of Chesapeake Energy from $112.00 to $108.00 and set a “buy” rating on the stock in a research report on Monday, July 22nd. One research analyst has rated the stock with a sell rating, six have given a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, Chesapeake Energy has a consensus rating of “Hold” and a consensus target price of $106.67.

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.