Denali Advisors LLC Decreases Stock Position in Chesapeake Energy Co. (NASDAQ:CHK)

Denali Advisors LLC decreased its position in shares of Chesapeake Energy Co. (NASDAQ:CHK) by 29.4% in the first quarter, HoldingsChannel reports. The firm owned 4,086 shares of the company’s stock after selling 1,702 shares during the quarter. Denali Advisors LLC’s holdings in Chesapeake Energy were worth $363,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. Principal Securities Inc. bought a new position in Chesapeake Energy during the fourth quarter valued at approximately $28,000. Gladius Capital Management LP bought a new stake in Chesapeake Energy in the third quarter worth $36,000. Allspring Global Investments Holdings LLC purchased a new stake in shares of Chesapeake Energy during the 1st quarter valued at about $37,000. GAMMA Investing LLC purchased a new stake in Chesapeake Energy during the fourth quarter valued at approximately $40,000. Finally, Benjamin F. Edwards & Company Inc. raised its holdings in Chesapeake Energy by 1,207.7% during the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 680 shares of the company’s stock valued at $52,000 after buying an additional 628 shares during the period. 97.93% of the stock is owned by institutional investors.

Chesapeake Energy Stock Up 0.7 %

Shares of Chesapeake Energy stock opened at $83.63 on Thursday. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.33 and a quick ratio of 2.33. The stock has a market cap of $10.96 billion, a price-to-earnings ratio of 11.27 and a beta of 0.47. The firm’s 50-day moving average is $87.74 and its two-hundred day moving average is $83.79. Chesapeake Energy Co. has a 1 year low of $72.84 and a 1 year high of $93.58.

Chesapeake Energy (NASDAQ:CHK) last released its quarterly earnings data on Tuesday, April 30th. The company reported $0.56 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.08). The business had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $674.99 million. Chesapeake Energy had a net margin of 16.42% and a return on equity of 4.87%. During the same quarter in the prior year, the business posted $1.87 earnings per share. As a group, research analysts expect that Chesapeake Energy Co. will post 0.98 earnings per share for the current fiscal year.

Chesapeake Energy Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 5th. Stockholders of record on Thursday, May 16th were issued a $0.715 dividend. The ex-dividend date of this dividend was Wednesday, May 15th. This is an increase from Chesapeake Energy’s previous quarterly dividend of $0.58. This represents a $2.86 dividend on an annualized basis and a dividend yield of 3.42%. Chesapeake Energy’s dividend payout ratio (DPR) is currently 31.00%.

Wall Street Analysts Forecast Growth

CHK has been the topic of a number of recent analyst reports. UBS Group increased their price objective on shares of Chesapeake Energy from $92.00 to $94.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 10th. Truist Financial decreased their price target on Chesapeake Energy from $119.00 to $112.00 and set a “buy” rating for the company in a research note on Friday, April 5th. Mizuho upped their price objective on Chesapeake Energy from $101.00 to $111.00 and gave the company a “buy” rating in a research report on Monday, May 13th. Benchmark reduced their target price on Chesapeake Energy from $107.00 to $93.00 and set a “buy” rating on the stock in a research note on Thursday, May 2nd. Finally, Jefferies Financial Group lowered their target price on shares of Chesapeake Energy from $118.00 to $115.00 and set a “buy” rating for the company in a research note on Wednesday, April 10th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $106.67.

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.