Dimensional Fund Advisors LP Grows Stock Position in Chesapeake Energy Co. (NASDAQ:CHK)

Dimensional Fund Advisors LP grew its position in shares of Chesapeake Energy Co. (NASDAQ:CHK) by 18.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,333,769 shares of the company’s stock after buying an additional 510,664 shares during the period. Dimensional Fund Advisors LP owned 2.54% of Chesapeake Energy worth $274,005,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Quest Partners LLC purchased a new position in Chesapeake Energy in the 4th quarter valued at approximately $975,000. Wealth Enhancement Advisory Services LLC grew its position in shares of Chesapeake Energy by 705.4% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 29,229 shares of the company’s stock valued at $2,402,000 after purchasing an additional 25,600 shares in the last quarter. Quantbot Technologies LP bought a new stake in shares of Chesapeake Energy during the 1st quarter valued at $1,006,000. Russell Investments Group Ltd. lifted its holdings in Chesapeake Energy by 66.4% during 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. Finally, Allspring Global Investments Holdings LLC bought a new position in Chesapeake Energy in the 1st quarter worth about $37,000. Institutional investors own 97.93% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Wolfe Research started coverage on Chesapeake Energy in a research report on Thursday, July 18th. They set an “outperform” rating and a $110.00 price target on the stock. KeyCorp initiated coverage on shares of Chesapeake Energy in a research note on Thursday, June 27th. They issued a “sector weight” rating on the stock. 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. Stephens upped their price target on shares of Chesapeake Energy from $117.00 to $118.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 30th. Finally, Truist Financial dropped their price objective on Chesapeake Energy from $112.00 to $108.00 and set a “buy” rating for the company in a research note on Monday, July 22nd. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $106.67.

Chesapeake Energy Price Performance

Shares of Chesapeake Energy stock opened at $73.34 on Wednesday. The firm has a market capitalization of $9.61 billion, a PE ratio of 9.88 and a beta of 0.46. 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 12 month low of $69.12 and a 12 month high of $93.58. The business’s 50-day moving average price is $75.02 and its 200-day moving average price is $82.84.

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). Chesapeake Energy had a return on equity of 4.00% and a net margin of 8.68%. The business had revenue of $505.00 million for the quarter, compared to analysts’ expectations of $822.54 million. During the same period last year, the business posted $0.64 earnings per share. The company’s revenue was down 73.3% compared to the same quarter last year. Sell-side analysts forecast that Chesapeake Energy Co. will post 1.32 EPS for the current fiscal 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 given a dividend of $0.575 per share. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $2.30 annualized dividend and a yield of 3.14%. Chesapeake Energy’s payout ratio is 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.