Oppenheimer Asset Management Inc. Purchases 586 Shares of Chesapeake Energy Co. (NASDAQ:CHK)

Oppenheimer Asset Management Inc. boosted its position in Chesapeake Energy Co. (NASDAQ:CHK) by 13.9% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 4,815 shares of the company’s stock after buying an additional 586 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Chesapeake Energy were worth $396,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Principal Securities Inc. bought a new position in shares of Chesapeake Energy during the fourth quarter worth approximately $28,000. Lindbrook Capital LLC increased its stake 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 period. Allspring Global Investments Holdings LLC bought a new stake in shares of Chesapeake Energy during the 1st quarter valued at $37,000. BOKF NA acquired a new stake in shares of Chesapeake Energy during the 1st quarter worth $45,000. Finally, GAMMA Investing LLC increased its position 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 and hedge funds.

Chesapeake Energy Stock Up 2.5 %

Shares of NASDAQ CHK opened at $78.46 on Friday. The company has a 50 day simple moving average of $74.62 and a 200 day simple moving average of $82.72. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.16 and a quick ratio of 2.16. Chesapeake Energy Co. has a 1 year low of $69.12 and a 1 year high of $93.58. 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 released 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). Chesapeake Energy had a net margin of 8.68% and a return on equity of 4.00%. The business had revenue of $505.00 million for the quarter, compared to the consensus estimate of $822.54 million. During the same period in the previous year, the business posted $0.64 EPS. Chesapeake Energy’s revenue was down 73.3% on a year-over-year basis. On average, research analysts forecast that Chesapeake Energy Co. will post 1.32 EPS for the current year.

Chesapeake Energy Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 5th. Stockholders of record on Thursday, August 15th were paid a $0.575 dividend. The ex-dividend date was Thursday, August 15th. This represents a $2.30 annualized dividend and a dividend yield of 2.93%. Chesapeake Energy’s payout ratio is 31.00%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. UBS Group reduced their price objective on shares of Chesapeake Energy from $93.00 to $85.00 and set a “neutral” rating on the stock in a research note on Wednesday. Scotiabank decreased their price objective on shares of Chesapeake Energy from $110.00 to $105.00 and set a “sector perform” rating on the stock in a research note on Tuesday, August 20th. Stephens upped their target price on Chesapeake Energy from $117.00 to $118.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 30th. 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. Finally, Truist Financial reduced their price objective 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. One analyst has rated the stock with a sell rating, six have issued a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $105.92.

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.