GAMMA Investing LLC Sells 171 Shares of Chesapeake Energy Co. (NASDAQ:CHK)

GAMMA Investing LLC cut its holdings in shares of Chesapeake Energy Co. (NASDAQ:CHK) by 30.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 398 shares of the company’s stock after selling 171 shares during the period. GAMMA Investing LLC’s holdings in Chesapeake Energy were worth $33,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC bought a new stake in shares of Chesapeake Energy during the first quarter worth $37,000. BOKF NA acquired a new position in Chesapeake Energy in the 1st quarter worth $45,000. Blue Trust Inc. increased its holdings in Chesapeake Energy by 895.6% during the 2nd quarter. Blue Trust Inc. now owns 677 shares of the company’s stock worth $60,000 after purchasing an additional 609 shares in the last quarter. Mather Group LLC. raised its stake in shares of Chesapeake Energy by 1,384.8% in the 2nd quarter. Mather Group LLC. now owns 683 shares of the company’s stock valued at $61,000 after purchasing an additional 637 shares during the period. Finally, Northwest Investment Counselors LLC bought a new stake in shares of Chesapeake Energy in the first quarter valued at about $71,000. 97.93% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. Roth Mkm began coverage on Chesapeake Energy in a research report on Friday, September 27th. They issued a “buy” rating and a $92.00 target price on the stock. StockNews.com upgraded shares of Chesapeake Energy to a “sell” rating in a report on Wednesday, August 14th. UBS Group cut their price objective on shares of Chesapeake Energy from $93.00 to $85.00 and set a “neutral” rating on the stock in a research report on Wednesday, September 18th. Roth Capital raised shares of Chesapeake Energy to a “strong-buy” rating in a research report on Friday, September 27th. Finally, Scotiabank cut their price target on shares of Chesapeake Energy from $110.00 to $105.00 and set a “sector perform” rating on the stock in a research report on Tuesday, August 20th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $99.92.

Chesapeake Energy Price Performance

Shares of NASDAQ CHK opened at $81.46 on Friday. Chesapeake Energy Co. has a twelve month low of $69.12 and a twelve month high of $93.58. The company has a market cap of $10.68 billion, a PE ratio of 10.98 and a beta of 0.47. The business’s 50 day moving average price is $75.74 and its two-hundred day moving average price is $82.24. 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 (NASDAQ:CHK) last posted its quarterly 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). Chesapeake Energy had a net margin of 8.68% and a return on equity of 4.00%. The business had revenue of $505.00 million during the quarter, compared to the consensus estimate of $822.54 million. During the same quarter last year, the company posted $0.64 EPS. The firm’s revenue was down 73.3% on a year-over-year basis. On average, analysts predict that Chesapeake Energy Co. will post 1.43 EPS for the current year.

Chesapeake Energy Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 5th. Stockholders of record on Thursday, August 15th were paid a dividend of $0.575 per share. This represents a $2.30 dividend on an annualized basis and a dividend yield of 2.82%. The ex-dividend date was Thursday, August 15th. Chesapeake Energy’s dividend payout ratio 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.