Public Employees Retirement Association of Colorado Sells 312 Shares of Chesapeake Energy Co. (NASDAQ:CHK)

Public Employees Retirement Association of Colorado reduced its stake in Chesapeake Energy Co. (NASDAQ:CHK) by 2.6% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 11,923 shares of the company’s stock after selling 312 shares during the period. Public Employees Retirement Association of Colorado’s holdings in Chesapeake Energy were worth $980,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. Intech Investment Management LLC boosted its holdings in shares of Chesapeake Energy by 154.6% in the 2nd quarter. Intech Investment Management LLC now owns 11,168 shares of the company’s stock worth $918,000 after acquiring an additional 6,782 shares in the last quarter. Goehring & Rozencwajg Associates LLC boosted its holdings in shares of Chesapeake Energy by 10.9% in the 2nd quarter. Goehring & Rozencwajg Associates LLC now owns 106,205 shares of the company’s stock worth $8,729,000 after acquiring an additional 10,400 shares in the last quarter. MQS Management LLC acquired a new position in shares of Chesapeake Energy in the 2nd quarter worth approximately $503,000. First Eagle Investment Management LLC boosted its holdings in shares of Chesapeake Energy by 21.4% in the 2nd quarter. First Eagle Investment Management LLC now owns 9,093 shares of the company’s stock worth $747,000 after acquiring an additional 1,600 shares in the last quarter. Finally, Hsbc Holdings PLC boosted its holdings in shares of Chesapeake Energy by 3.3% in the 2nd quarter. Hsbc Holdings PLC now owns 128,785 shares of the company’s stock worth $10,577,000 after acquiring an additional 4,061 shares in the last quarter. 97.93% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on CHK. KeyCorp began coverage on Chesapeake Energy in a report on Thursday, June 27th. They issued a “sector weight” rating on the stock. 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 report on Monday, July 22nd. StockNews.com raised Chesapeake Energy to a “sell” rating in a report on Wednesday, August 14th. Wolfe Research started coverage on Chesapeake Energy in a report on Thursday, July 18th. They set an “outperform” rating and a $110.00 price objective on the stock. Finally, Mizuho reduced their price objective on Chesapeake Energy from $111.00 to $105.00 and set an “outperform” rating on the stock in a report on Monday, September 16th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $105.92.

Chesapeake Energy Price Performance

CHK opened at $80.09 on Wednesday. The company has a fifty day simple moving average of $74.49 and a 200 day simple moving average of $82.70. The stock has a market cap of $10.50 billion, a P/E ratio of 10.79 and a beta of 0.46. 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.

Chesapeake Energy (NASDAQ:CHK) last released its 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 firm had revenue of $505.00 million for the quarter, compared to the consensus estimate of $822.54 million. Chesapeake Energy had a return on equity of 4.00% and a net margin of 8.68%. Chesapeake Energy’s revenue for the quarter was down 73.3% on a year-over-year basis. During the same quarter last year, the company posted $0.64 EPS. On average, research analysts expect that Chesapeake Energy Co. will post 1.32 EPS for the current year.

Chesapeake Energy Cuts Dividend

The company also recently announced 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. This represents a $2.30 dividend on an annualized basis and a yield of 2.87%. The ex-dividend date 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.