Wedmont Private Capital Acquires 993 Shares of Chesapeake Energy Co. (NASDAQ:CHK)

Wedmont Private Capital increased its position in Chesapeake Energy Co. (NASDAQ:CHK) by 23.8% in the 3rd quarter, Holdings Channel reports. The firm owned 5,171 shares of the company’s stock after buying an additional 993 shares during the quarter. Wedmont Private Capital’s holdings in Chesapeake Energy were worth $442,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Wealth Enhancement Advisory Services LLC lifted its position in Chesapeake Energy by 705.4% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 29,229 shares of the company’s stock worth $2,402,000 after purchasing an additional 25,600 shares during the period. Quantbot Technologies LP bought a new position in Chesapeake Energy in the first quarter worth $1,006,000. Russell Investments Group Ltd. lifted its position in Chesapeake Energy by 66.4% in the first 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 during the period. Allspring Global Investments Holdings LLC bought a new position in Chesapeake Energy in the first quarter worth $37,000. Finally, Wedge Capital Management L L P NC lifted its position in Chesapeake Energy by 16.2% in the second 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 during the period. 97.93% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

CHK has been the subject of several recent analyst reports. Truist Financial dropped their price objective on Chesapeake Energy from $108.00 to $96.00 and set a “buy” rating for the company in a research note on Monday, September 30th. Roth Mkm initiated coverage on Chesapeake Energy in a research note on Friday, September 27th. They set a “buy” rating and a $92.00 price objective for the company. KeyCorp initiated coverage on Chesapeake Energy in a research note on Thursday, June 27th. They set a “sector weight” rating for the company. Stephens increased their price objective on Chesapeake Energy from $117.00 to $118.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 30th. Finally, Mizuho dropped their price objective on Chesapeake Energy from $111.00 to $105.00 and set an “outperform” rating for the company in a research note on Monday, September 16th. One research analyst has rated the stock with a sell rating, six have given 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 has an average rating of “Moderate Buy” and a consensus price target of $99.92.

Chesapeake Energy Price Performance

Shares of CHK opened at $81.46 on Friday. The company has a current ratio of 2.16, a quick ratio of 2.16 and a debt-to-equity ratio of 0.19. Chesapeake Energy Co. has a 1 year low of $69.12 and a 1 year high of $93.58. The stock has a market cap of $10.68 billion, a P/E ratio of 10.98 and a beta of 0.47. The stock’s 50-day moving average price is $74.91 and its two-hundred day moving average price is $82.45.

Chesapeake Energy (NASDAQ:CHK) last issued 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). 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 the consensus estimate of $822.54 million. During the same quarter last year, the business posted $0.64 EPS. Chesapeake Energy’s quarterly revenue was down 73.3% on a year-over-year basis. On average, equities analysts predict that Chesapeake Energy Co. will post 1.43 earnings per share for the current year.

Chesapeake Energy Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 5th. Stockholders of record on Thursday, August 15th were issued a dividend of $0.575 per share. This represents a $2.30 annualized dividend and a dividend yield of 2.82%. The ex-dividend date of this dividend 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.