Chesapeake Energy Co. (NASDAQ:CHK) Shares Sold by Public Sector Pension Investment Board

Public Sector Pension Investment Board cut its holdings in shares of Chesapeake Energy Co. (NASDAQ:CHK) by 5.9% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 15,027 shares of the company’s stock after selling 945 shares during the period. Public Sector Pension Investment Board’s holdings in Chesapeake Energy were worth $1,235,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Wealth Enhancement Advisory Services LLC grew its position in shares of Chesapeake Energy by 705.4% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 29,229 shares of the company’s stock valued at $2,402,000 after acquiring an additional 25,600 shares during the period. Quantbot Technologies LP purchased a new position in Chesapeake Energy in the 1st quarter worth approximately $1,006,000. Russell Investments Group Ltd. lifted its stake in Chesapeake Energy by 66.4% in the 1st quarter. Russell Investments Group Ltd. now owns 119,470 shares of the company’s stock worth $10,612,000 after purchasing an additional 47,658 shares in the last quarter. Allspring Global Investments Holdings LLC purchased a new position in Chesapeake Energy in the 1st quarter worth approximately $37,000. Finally, Wedge Capital Management L L P NC lifted its stake in Chesapeake Energy by 16.2% in the 2nd quarter. Wedge Capital Management L L P NC now owns 284,263 shares of the company’s stock worth $23,364,000 after purchasing an additional 39,734 shares in the last quarter. 97.93% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. UBS Group decreased their target price 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, September 18th. Roth Mkm assumed coverage on shares of Chesapeake Energy in a research note on Friday, September 27th. They issued a “buy” rating and a $92.00 target price on the stock. StockNews.com raised shares of Chesapeake Energy to a “sell” rating in a research note on Wednesday, August 14th. Scotiabank cut their price target on shares of Chesapeake Energy from $110.00 to $105.00 and set a “sector perform” rating for the company in a report on Tuesday, August 20th. Finally, Mizuho cut their price target on shares of Chesapeake Energy from $111.00 to $105.00 and set an “outperform” rating for the company in a report on Monday, September 16th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Chesapeake Energy has a consensus rating of “Moderate Buy” and an average target price of $99.92.

Chesapeake Energy Stock Down 1.0 %

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

Chesapeake Energy (NASDAQ:CHK) last posted its quarterly earnings results on Monday, July 29th. The company reported $0.01 EPS for the quarter, missing the consensus estimate 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 business’s revenue was down 73.3% on a year-over-year basis. During the same quarter last year, the firm earned $0.64 EPS. Research analysts expect that Chesapeake Energy Co. will post 1.43 earnings per share for the current year.

Chesapeake Energy Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 5th. Shareholders 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 2.82%. Chesapeake Energy’s dividend payout ratio (DPR) is 31.00%.

Chesapeake Energy 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.