Chesapeake Energy (NASDAQ:CHK) Upgraded to “Strong-Buy” at Roth Capital

Roth Capital upgraded shares of Chesapeake Energy (NASDAQ:CHK) to a strong-buy rating in a research note published on Friday morning, Zacks.com reports.

Other equities research analysts also recently issued research reports about the stock. StockNews.com upgraded shares of Chesapeake Energy to a sell rating in a research report on Wednesday, August 14th. Stephens increased their target price on Chesapeake Energy from $117.00 to $118.00 and gave the company an equal weight rating in a report on Tuesday, July 30th. UBS Group lowered their price target on Chesapeake Energy from $93.00 to $85.00 and set a neutral rating on the stock in a report on Wednesday, September 18th. Wolfe Research started coverage on Chesapeake Energy in a research note on Thursday, July 18th. They issued an outperform rating and a $110.00 price objective for the company. Finally, Scotiabank lowered their target price on 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. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of Moderate Buy and a consensus price target of $101.33.

Chesapeake Energy Stock Up 2.9 %

Shares of Chesapeake Energy stock opened at $82.60 on Friday. Chesapeake Energy has a 12-month low of $69.12 and a 12-month high of $93.58. The firm has a market capitalization of $10.84 billion, a PE ratio of 11.13 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. The stock’s fifty day moving average is $74.43 and its 200-day moving average is $82.64.

Chesapeake Energy (NASDAQ:CHK) last posted 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 company 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 firm posted $0.64 EPS. Chesapeake Energy’s quarterly revenue was down 73.3% on a year-over-year basis. Equities analysts anticipate that Chesapeake Energy will post 1.43 earnings per share for the current year.

Chesapeake Energy Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 5th. Shareholders 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 2.78%. The ex-dividend date was Thursday, August 15th. Chesapeake Energy’s dividend payout ratio (DPR) is presently 31.00%.

Institutional Investors Weigh In On Chesapeake Energy

Large investors have recently bought and sold shares of the business. Sanctuary Advisors LLC acquired a new stake in Chesapeake Energy in the 2nd quarter worth approximately $956,000. Clearbridge Investments LLC raised its position in shares of Chesapeake Energy by 3.3% in the second quarter. Clearbridge Investments LLC now owns 474,459 shares of the company’s stock valued at $38,996,000 after purchasing an additional 14,951 shares during the period. Teachers Retirement System of The State of Kentucky lifted its stake in shares of Chesapeake Energy by 133.8% in the second quarter. Teachers Retirement System of The State of Kentucky now owns 84,493 shares of the company’s stock worth $6,945,000 after buying an additional 48,348 shares during the last quarter. Creative Planning boosted its holdings in shares of Chesapeake Energy by 4.6% during the 2nd quarter. Creative Planning now owns 19,352 shares of the company’s stock worth $1,591,000 after buying an additional 857 shares during the period. Finally, Susquehanna Fundamental Investments LLC grew its stake in Chesapeake Energy by 72.4% in the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 141,413 shares of the company’s stock valued at $11,623,000 after buying an additional 59,400 shares during the last quarter. 97.93% of the stock is currently owned by institutional investors.

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.