Chesapeake Energy Co. (NASDAQ:CHK) Shares Purchased by Hsbc Holdings PLC

Hsbc Holdings PLC boosted its holdings in shares of Chesapeake Energy Co. (NASDAQ:CHK) by 3.3% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 128,785 shares of the company’s stock after purchasing an additional 4,061 shares during the period. Hsbc Holdings PLC owned about 0.10% of Chesapeake Energy worth $10,577,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the business. Principal Securities Inc. acquired a new position in shares of Chesapeake Energy in the 4th quarter valued at $28,000. Lindbrook Capital LLC grew its position in shares of Chesapeake Energy by 90.8% during the 1st quarter. Lindbrook Capital LLC now owns 374 shares of the company’s stock valued at $33,000 after acquiring an additional 178 shares during the period. Allspring Global Investments Holdings LLC acquired a new position in Chesapeake Energy in the 1st quarter worth about $37,000. BOKF NA purchased a new position in Chesapeake Energy during the first quarter worth approximately $45,000. Finally, GAMMA Investing LLC boosted its position in Chesapeake Energy by 75.6% during the second quarter. GAMMA Investing LLC now owns 569 shares of the company’s stock worth $47,000 after purchasing an additional 245 shares in the last quarter. 97.93% of the stock is owned by hedge funds and other institutional investors.

Chesapeake Energy Stock Up 2.3 %

Shares of CHK opened at $80.26 on Tuesday. Chesapeake Energy Co. has a 52-week low of $69.12 and a 52-week high of $93.58. The company has a quick ratio of 2.16, a current ratio of 2.16 and a debt-to-equity ratio of 0.19. The stock has a fifty day simple moving average of $74.62 and a two-hundred day simple moving average of $82.72. The company has a market capitalization of $10.52 billion, a PE ratio of 10.82 and a beta of 0.46.

Chesapeake Energy (NASDAQ:CHK) last released its quarterly earnings data 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 for the quarter, compared to analyst estimates of $822.54 million. During the same quarter in the previous year, the business posted $0.64 earnings per share. Chesapeake Energy’s revenue for the quarter was down 73.3% on a year-over-year basis. As a group, equities analysts forecast that Chesapeake Energy Co. will post 1.32 EPS for the current year.

Chesapeake Energy Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 5th. Investors of record on Thursday, August 15th were issued a $0.575 dividend. This represents a $2.30 dividend on an annualized basis and a yield of 2.87%. The ex-dividend date of this dividend was Thursday, August 15th. Chesapeake Energy’s dividend payout ratio is presently 31.00%.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. Wolfe Research initiated coverage on Chesapeake Energy in a research note on Thursday, July 18th. They set an “outperform” rating and a $110.00 target price for the company. KeyCorp initiated coverage on shares of Chesapeake Energy in a research report on Thursday, June 27th. They issued a “sector weight” rating on the stock. Stephens upped their price target on shares of Chesapeake Energy from $117.00 to $118.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 30th. Scotiabank lowered their price objective on Chesapeake Energy from $110.00 to $105.00 and set a “sector perform” rating on the stock in a report on Tuesday, August 20th. Finally, Mizuho reduced their target price on Chesapeake Energy from $111.00 to $105.00 and set an “outperform” rating for the company in a report on Monday, September 16th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $105.92.

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.