Chesapeake Energy (NASDAQ:CHK) PT Lowered to $105.00 at Mizuho

Chesapeake Energy (NASDAQ:CHK) had its target price reduced by Mizuho from $111.00 to $105.00 in a research report report published on Monday, Benzinga reports. They currently have an outperform rating on the stock.

A number of other equities analysts have also weighed in on the stock. KeyCorp initiated coverage on shares of Chesapeake Energy in a report on Thursday, June 27th. They issued a sector weight rating on the stock. Scotiabank lowered their price target on Chesapeake Energy from $110.00 to $105.00 and set a sector perform rating for the company in a research report on Tuesday, August 20th. Wolfe Research initiated coverage on Chesapeake Energy in a report on Thursday, July 18th. They issued an outperform rating and a $110.00 price objective on the stock. Stephens boosted their target price on Chesapeake Energy from $117.00 to $118.00 and gave the stock an equal weight rating in a report on Tuesday, July 30th. Finally, Truist Financial cut their price target on shares of Chesapeake Energy from $112.00 to $108.00 and set a buy rating on the stock in a report on Monday, July 22nd. One 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. Based on data from MarketBeat.com, the company currently has an average rating of Hold and an average target price of $105.92.

Chesapeake Energy Price Performance

Shares of NASDAQ:CHK opened at $76.57 on Monday. The company has a market cap of $10.03 billion, a P/E ratio of 10.32 and a beta of 0.46. The business has a fifty day simple moving average of $74.85 and a 200-day simple moving average of $82.79. Chesapeake Energy has a 52 week low of $69.12 and a 52 week high of $93.58. The company has a quick ratio of 2.16, a current ratio of 2.16 and a debt-to-equity ratio of 0.19.

Chesapeake Energy (NASDAQ:CHK) last posted its quarterly earnings results on Monday, July 29th. The company reported $0.01 EPS for the quarter, missing the consensus estimate of $0.02 by ($0.01). Chesapeake Energy had a net margin of 8.68% and a return on equity of 4.00%. The business had revenue of $505.00 million during the quarter, compared to analysts’ expectations of $822.54 million. During the same quarter last year, the firm earned $0.64 EPS. The firm’s quarterly revenue was down 73.3% compared to the same quarter last year. Equities research analysts forecast that Chesapeake Energy will post 1.32 EPS for the current year.

Chesapeake Energy Cuts Dividend

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

Hedge Funds Weigh In On Chesapeake Energy

Institutional investors and hedge funds have recently made changes to their positions in the business. Aurora Investment Counsel grew its stake in Chesapeake Energy by 1.1% in the first quarter. Aurora Investment Counsel now owns 11,930 shares of the company’s stock worth $1,060,000 after purchasing an additional 135 shares in the last quarter. Lindbrook Capital LLC increased its holdings in shares of 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 last quarter. Clear Harbor Asset Management LLC raised its position in shares of Chesapeake Energy by 1.3% during the 2nd quarter. Clear Harbor Asset Management LLC now owns 13,895 shares of the company’s stock valued at $1,142,000 after acquiring an additional 180 shares in the last quarter. Toronto Dominion Bank lifted its stake in Chesapeake Energy by 1.9% during the second quarter. Toronto Dominion Bank now owns 10,205 shares of the company’s stock worth $839,000 after purchasing an additional 186 shares during the last quarter. Finally, Abich Financial Wealth Management LLC boosted its holdings in 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 purchasing an additional 220 shares during the period. 97.93% of the stock is currently owned by hedge funds and other institutional investors.

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.