Chesapeake Energy Co. to Issue Quarterly Dividend of $0.58 (NASDAQ:CHK)

Chesapeake Energy Co. (NASDAQ:CHK) declared a quarterly dividend on Monday, July 29th, Zacks reports. Shareholders of record on Thursday, August 15th will be given a dividend of 0.575 per share on Thursday, September 5th. This represents a $2.30 annualized dividend and a dividend yield of 3.19%. The ex-dividend date of this dividend is Thursday, August 15th.

Chesapeake Energy has a dividend payout ratio of 37.6% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Chesapeake Energy to earn $4.97 per share next year, which means the company should continue to be able to cover its $2.30 annual dividend with an expected future payout ratio of 46.3%.

Chesapeake Energy Trading Down 0.1 %

Shares of Chesapeake Energy stock opened at $72.18 on Wednesday. Chesapeake Energy has a 12-month low of $69.42 and a 12-month high of $93.58. The stock has a market cap of $9.46 billion, a P/E ratio of 9.74 and a beta of 0.47. The company has a quick ratio of 2.33, a current ratio of 2.16 and a debt-to-equity ratio of 0.19. The business’s 50 day moving average is $81.04 and its 200-day moving average is $83.95.

Chesapeake Energy (NASDAQ:CHK) last announced its quarterly earnings data 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). Chesapeake Energy had a return on equity of 4.00% and a net margin of 8.68%. The company had revenue of $505.00 million for the quarter, compared to the consensus estimate of $822.54 million. During the same quarter in the prior year, the company earned $0.64 EPS. The company’s revenue for the quarter was down 73.3% on a year-over-year basis. Equities research analysts predict that Chesapeake Energy will post 1.34 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. Truist Financial dropped their price target on Chesapeake Energy from $112.00 to $108.00 and set a “buy” rating on the stock in a research note on Monday, July 22nd. Benchmark dropped their price target 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. Mizuho increased their price target on Chesapeake Energy from $101.00 to $111.00 and gave the company a “buy” rating in a research note on Monday, May 13th. Stephens upped their price objective on Chesapeake Energy from $117.00 to $118.00 and gave the company an “equal weight” rating in a report on Tuesday, July 30th. Finally, KeyCorp started coverage on Chesapeake Energy in a report on Thursday, June 27th. They issued a “sector weight” rating on the stock. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, Chesapeake Energy has a consensus rating of “Hold” and an average target price of $106.69.

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.