DekaBank Deutsche Girozentrale Acquires 292 Shares of Chesapeake Energy Co. (NASDAQ:CHK)

DekaBank Deutsche Girozentrale boosted its holdings in Chesapeake Energy Co. (NASDAQ:CHK) by 4.8% in the second quarter, Holdings Channel reports. The firm owned 6,366 shares of the company’s stock after purchasing an additional 292 shares during the quarter. DekaBank Deutsche Girozentrale’s holdings in Chesapeake Energy were worth $520,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Chesapeake Energy by 705.4% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 29,229 shares of the company’s stock valued at $2,402,000 after buying an additional 25,600 shares during the last quarter. Quantbot Technologies LP acquired a new position in shares of Chesapeake Energy during the 1st quarter worth about $1,006,000. Russell Investments Group Ltd. raised its holdings in shares of 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 valued at about $37,000. Finally, Wedge Capital Management L L P NC lifted its stake in Chesapeake Energy by 16.2% in the 2nd quarter. Wedge Capital Management L L P NC now owns 284,263 shares of the company’s stock valued at $23,364,000 after purchasing an additional 39,734 shares during the last quarter. 97.93% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CHK has been the topic of several research analyst reports. Mizuho dropped their price objective 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 dropped 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. KeyCorp assumed coverage on shares of Chesapeake Energy in a research report on Thursday, June 27th. They set a “sector weight” rating for the company. Wolfe Research began coverage on shares of Chesapeake Energy in a research report on Thursday, July 18th. They issued an “outperform” rating and a $110.00 price objective on the stock. Finally, Scotiabank cut their target price on shares of 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 assigned a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, Chesapeake Energy has an average rating of “Hold” and a consensus target price of $105.92.

Chesapeake Energy Stock Performance

Shares of NASDAQ:CHK opened at $78.46 on Friday. 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 12-month low of $69.12 and a 12-month high of $93.58. The company’s 50 day moving average price is $74.62 and its two-hundred day moving average price is $82.72. The firm has a market cap of $10.28 billion, a PE ratio of 10.57 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 analysts’ consensus estimates 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 company’s quarterly revenue was down 73.3% compared to the same quarter last year. During the same period in the prior 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 year.

Chesapeake Energy Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 5th. Investors of record on Thursday, August 15th were paid a $0.575 dividend. This represents a $2.30 dividend on an annualized basis and a yield of 2.93%. The ex-dividend date of this dividend was Thursday, August 15th. Chesapeake Energy’s dividend payout ratio (DPR) 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.