AE Wealth Management LLC Reduces Position in Chesapeake Energy Co. (NASDAQ:CHK)

AE Wealth Management LLC lowered its position in Chesapeake Energy Co. (NASDAQ:CHK) by 86.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,780 shares of the company’s stock after selling 17,914 shares during the quarter. AE Wealth Management LLC’s holdings in Chesapeake Energy were worth $228,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Lindbrook Capital LLC increased its position in Chesapeake Energy by 90.8% in the 1st quarter. Lindbrook Capital LLC now owns 374 shares of the company’s stock valued at $33,000 after acquiring an additional 178 shares during the period. Allspring Global Investments Holdings LLC acquired a new position in shares of Chesapeake Energy in the first quarter valued at approximately $37,000. BOKF NA purchased a new stake in shares of Chesapeake Energy during the first quarter worth approximately $45,000. GAMMA Investing LLC lifted its holdings in shares of Chesapeake Energy by 75.6% during the second 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. Finally, Blue Trust Inc. grew its position in Chesapeake Energy by 895.6% in the 2nd quarter. Blue Trust Inc. now owns 677 shares of the company’s stock valued at $60,000 after buying an additional 609 shares during the last quarter. 97.93% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CHK has been the subject of a number of analyst reports. UBS Group cut their price objective on shares of Chesapeake Energy from $93.00 to $85.00 and set a “neutral” rating for the company in a research report on Wednesday, September 18th. Roth Mkm assumed coverage on shares of Chesapeake Energy in a report on Friday. They set a “buy” rating and a $92.00 price target for the company. StockNews.com upgraded Chesapeake Energy to a “sell” rating in a research report on Wednesday, August 14th. Roth Capital raised Chesapeake Energy to a “strong-buy” rating in a report on Friday. Finally, Wolfe Research started coverage on Chesapeake Energy in a report on Thursday, July 18th. They set an “outperform” rating and a $110.00 price objective on the stock. One research analyst has rated the stock with a sell rating, six have issued a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $101.33.

Chesapeake Energy Stock Performance

NASDAQ:CHK opened at $82.60 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 capitalization of $10.84 billion, a P/E ratio of 11.13 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. The firm has a 50-day moving average price of $74.43 and a two-hundred day moving average price of $82.64.

Chesapeake Energy (NASDAQ:CHK) last posted 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). The company had revenue of $505.00 million during the quarter, compared to analysts’ expectations of $822.54 million. Chesapeake Energy had a net margin of 8.68% and a return on equity of 4.00%. Chesapeake Energy’s quarterly revenue was down 73.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.64 EPS. As a group, research analysts expect that Chesapeake Energy Co. will post 1.43 earnings per share for the current fiscal year.

Chesapeake Energy Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 5th. Investors of record on Thursday, August 15th were given a dividend of $0.575 per share. This represents a $2.30 dividend on an annualized basis and a yield of 2.78%. The ex-dividend date of this dividend 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.