Renaissance Technologies LLC Sells 4,411 Shares of Chesapeake Energy Co. (NASDAQ:CHK)

Renaissance Technologies LLC trimmed its holdings in Chesapeake Energy Co. (NASDAQ:CHK) by 1.3% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 329,520 shares of the company’s stock after selling 4,411 shares during the quarter. Renaissance Technologies LLC’s holdings in Chesapeake Energy were worth $27,083,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Aurora Investment Counsel boosted its stake in Chesapeake Energy by 1.1% in the 1st quarter. Aurora Investment Counsel now owns 11,930 shares of the company’s stock worth $1,060,000 after purchasing an additional 135 shares during the period. Lindbrook Capital LLC boosted its stake in Chesapeake Energy by 90.8% in the 1st quarter. Lindbrook Capital LLC now owns 374 shares of the company’s stock worth $33,000 after purchasing an additional 178 shares during the period. Clear Harbor Asset Management LLC boosted its stake in Chesapeake Energy by 1.3% in the 2nd quarter. Clear Harbor Asset Management LLC now owns 13,895 shares of the company’s stock worth $1,142,000 after purchasing an additional 180 shares during the period. Abich Financial Wealth Management LLC boosted its stake in Chesapeake Energy by 32.4% in the 1st quarter. Abich Financial Wealth Management LLC now owns 900 shares of the company’s stock worth $80,000 after purchasing an additional 220 shares during the period. Finally, GAMMA Investing LLC boosted its stake in Chesapeake Energy by 75.6% in the 2nd quarter. GAMMA Investing LLC now owns 569 shares of the company’s stock worth $47,000 after purchasing an additional 245 shares during the period. 97.93% of the stock is currently owned by institutional investors.

Chesapeake Energy Stock Up 2.8 %

NASDAQ CHK opened at $76.57 on Friday. The company has a quick ratio of 2.16, a current ratio of 2.16 and a debt-to-equity ratio of 0.19. The company has a fifty day moving average of $74.85 and a two-hundred day moving average of $82.79. The firm has a market capitalization of $10.03 billion, a price-to-earnings ratio of 10.32 and a beta of 0.46. Chesapeake Energy Co. has a 52 week low of $69.12 and a 52 week high of $93.58.

Chesapeake Energy (NASDAQ:CHK) last released its earnings results on Monday, July 29th. The company reported $0.01 earnings per share 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 the consensus estimate of $822.54 million. During the same quarter last year, the business posted $0.64 earnings per share. The firm’s revenue for the quarter was down 73.3% compared to the same quarter last year. On average, analysts predict that Chesapeake Energy Co. will post 1.32 earnings per share for the current year.

Chesapeake Energy Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 5th. Investors of record on Thursday, August 15th were issued a $0.575 dividend. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $2.30 annualized dividend and a dividend yield of 3.00%. Chesapeake Energy’s payout ratio is currently 31.00%.

Analysts Set New Price Targets

A number of research firms have recently commented on CHK. Stephens increased their target price on Chesapeake Energy from $117.00 to $118.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 30th. Truist Financial cut their target price on shares of Chesapeake Energy from $112.00 to $108.00 and set a “buy” rating for the company in a report on Monday, July 22nd. KeyCorp started coverage on shares of Chesapeake Energy in a report on Thursday, June 27th. They issued a “sector weight” rating for the company. Mizuho cut their target price on shares of Chesapeake Energy from $111.00 to $105.00 and set an “outperform” rating for the company in a report on Monday. Finally, Wolfe Research started coverage on shares of Chesapeake Energy in a report on Thursday, July 18th. They issued an “outperform” rating and a $110.00 target price for the company. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $105.92.

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.