Cwm LLC Boosts Holdings in Chesapeake Energy Co. (NASDAQ:CHK)

Cwm LLC raised its stake in shares of Chesapeake Energy Co. (NASDAQ:CHK) by 22.9% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 1,149 shares of the company’s stock after acquiring an additional 214 shares during the quarter. Cwm LLC’s holdings in Chesapeake Energy were worth $94,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Aurora Investment Counsel lifted its holdings in Chesapeake Energy by 1.1% during the first quarter. Aurora Investment Counsel now owns 11,930 shares of the company’s stock valued at $1,060,000 after purchasing an additional 135 shares in the last quarter. Clear Harbor Asset Management LLC lifted its holdings in Chesapeake Energy by 1.3% during the second quarter. Clear Harbor Asset Management LLC now owns 13,895 shares of the company’s stock valued at $1,142,000 after purchasing an additional 180 shares in the last quarter. Toronto Dominion Bank lifted its holdings in Chesapeake Energy by 1.9% during the second quarter. Toronto Dominion Bank now owns 10,205 shares of the company’s stock valued at $839,000 after purchasing an additional 186 shares in the last quarter. Abich Financial Wealth Management LLC lifted its stake in shares of Chesapeake Energy by 32.4% in the first quarter. Abich Financial Wealth Management LLC now owns 900 shares of the company’s stock worth $80,000 after buying an additional 220 shares in the last quarter. Finally, GAMMA Investing LLC lifted its stake in shares of Chesapeake Energy by 75.6% in the second quarter. GAMMA Investing LLC now owns 569 shares of the company’s stock worth $47,000 after buying an additional 245 shares in the last quarter. 97.93% of the stock is owned by hedge funds and other institutional investors.

Chesapeake Energy Price Performance

Shares of CHK stock opened at $81.46 on Friday. Chesapeake Energy Co. has a 12 month low of $69.12 and a 12 month high of $93.58. The company has a market capitalization of $10.68 billion, a PE ratio of 10.98 and a beta of 0.47. The firm’s 50-day moving average is $76.64 and its two-hundred day moving average is $81.95. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.16 and a quick ratio of 2.16.

Chesapeake Energy (NASDAQ:CHK) last announced 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 company had revenue of $505.00 million for the quarter, compared to analyst estimates of $822.54 million. During the same quarter in the prior year, the business earned $0.64 earnings per share. Chesapeake Energy’s revenue was down 73.3% on a year-over-year basis. Analysts predict that Chesapeake Energy Co. will post 1.43 earnings per share for the current year.

Chesapeake Energy Cuts Dividend

The business 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. This represents a $2.30 dividend on an annualized basis and a dividend yield of 2.82%. The ex-dividend date of this dividend was Thursday, August 15th. Chesapeake Energy’s dividend payout ratio is presently 31.00%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on CHK. Wolfe Research began coverage on shares of Chesapeake Energy in a research note on Thursday, July 18th. They issued an “outperform” rating and a $110.00 price target on the stock. Wells Fargo & Company raised their price target on shares of Chesapeake Energy from $77.00 to $83.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 1st. Scotiabank decreased 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 note on Tuesday, August 20th. Stephens raised their price target on shares of Chesapeake Energy from $117.00 to $118.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 30th. Finally, StockNews.com raised shares of Chesapeake Energy to a “sell” rating in a research note on Wednesday, August 14th. One equities 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 company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $99.92.

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.