ProShare Advisors LLC Sells 170 Shares of Chesapeake Energy Co. (NASDAQ:CHK)

ProShare Advisors LLC trimmed its position in Chesapeake Energy Co. (NASDAQ:CHK) by 3.1% in the second quarter, according to its most recent filing with the SEC. The fund owned 5,253 shares of the company’s stock after selling 170 shares during the period. ProShare Advisors LLC’s holdings in Chesapeake Energy were worth $432,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Allspring Global Investments Holdings LLC acquired a new position in Chesapeake Energy in the 1st quarter valued at approximately $37,000. BOKF NA acquired a new position in shares of Chesapeake Energy during the first quarter worth $45,000. GAMMA Investing LLC grew its stake 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 last quarter. Blue Trust Inc. increased its holdings in Chesapeake Energy by 895.6% in the second quarter. Blue Trust Inc. now owns 677 shares of the company’s stock valued at $60,000 after purchasing an additional 609 shares during the period. Finally, Mather Group LLC. raised its position in Chesapeake Energy by 1,384.8% during the 2nd quarter. Mather Group LLC. now owns 683 shares of the company’s stock worth $61,000 after purchasing an additional 637 shares during the last quarter. Institutional investors and hedge funds own 97.93% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. UBS Group reduced their price target on Chesapeake Energy from $93.00 to $85.00 and set a “neutral” rating on the stock in a research report on Wednesday, September 18th. KeyCorp started coverage on Chesapeake Energy in a report on Thursday, June 27th. They issued a “sector weight” rating on the stock. Truist Financial lowered their price target on shares of Chesapeake Energy from $108.00 to $96.00 and set a “buy” rating for the company in a report on Monday. Roth Capital raised shares of Chesapeake Energy to a “strong-buy” rating in a research note on Friday, September 27th. Finally, Scotiabank decreased their price objective on shares of Chesapeake Energy from $110.00 to $105.00 and set a “sector perform” rating for the company in a research report on Tuesday, August 20th. One analyst has rated the stock with a sell rating, six have issued a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $99.92.

Chesapeake Energy Stock Performance

Shares of Chesapeake Energy stock opened at $81.46 on Wednesday. Chesapeake Energy Co. has a one year low of $69.12 and a one year high of $93.58. The business has a 50-day simple moving average of $74.47 and a 200 day simple moving average of $82.59. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.16 and a quick ratio of 2.16. The firm has a market capitalization of $10.68 billion, a price-to-earnings ratio of 10.98 and a beta of 0.46.

Chesapeake Energy (NASDAQ:CHK) last posted its earnings results on Monday, July 29th. The company reported $0.01 earnings per share for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.01). The business had revenue of $505.00 million during 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 revenue was down 73.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.64 EPS. On average, research analysts anticipate that Chesapeake Energy Co. will post 1.43 earnings per share for the current fiscal year.

Chesapeake Energy Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 5th. Investors of record on Thursday, August 15th were issued a dividend of $0.575 per share. This represents a $2.30 annualized dividend and a yield of 2.82%. The ex-dividend date was Thursday, August 15th. Chesapeake Energy’s dividend payout ratio (DPR) is presently 31.00%.

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.