Chesapeake Energy (NASDAQ:CHK) Given New $85.00 Price Target at UBS Group

Chesapeake Energy (NASDAQ:CHK) had its price target cut by UBS Group from $93.00 to $85.00 in a report published on Wednesday, Benzinga reports. They currently have a neutral rating on the stock.

A number of other equities analysts have also recently issued reports on the company. KeyCorp began coverage on Chesapeake Energy in a report on Thursday, June 27th. They issued a sector weight rating for the company. Truist Financial lowered their target price on Chesapeake Energy from $112.00 to $108.00 and set a buy rating for the company in a report on Monday, July 22nd. Mizuho decreased their price target on Chesapeake Energy from $111.00 to $105.00 and set an outperform rating for the company in a research note on Monday, September 16th. Stephens increased their price target on Chesapeake Energy from $117.00 to $118.00 and gave the company an equal weight rating in a research note on Tuesday, July 30th. Finally, Scotiabank decreased their price target on Chesapeake Energy from $110.00 to $105.00 and set a sector perform rating for the company in a research note on Tuesday, August 20th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, Chesapeake Energy has an average rating of Hold and an average price target of $105.92.

Chesapeake Energy Price Performance

Chesapeake Energy stock opened at $78.46 on Wednesday. Chesapeake Energy has a 52 week low of $69.12 and a 52 week high of $93.58. The stock has a fifty day moving average of $74.62 and a 200-day moving average of $82.72. The company has a debt-to-equity ratio of 0.19, a quick ratio of 2.16 and a current ratio of 2.16. The stock has a market capitalization of $10.28 billion, a P/E ratio of 10.57 and a beta of 0.46.

Chesapeake Energy (NASDAQ:CHK) last issued 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). Chesapeake Energy had a return on equity of 4.00% and a net margin of 8.68%. The firm had revenue of $505.00 million during the quarter, compared to analyst estimates of $822.54 million. During the same period in the previous year, the company earned $0.64 EPS. Chesapeake Energy’s revenue for the quarter was down 73.3% on a year-over-year basis. On average, sell-side analysts expect that Chesapeake Energy will post 1.32 earnings per share for the current fiscal year.

Chesapeake Energy Cuts Dividend

The firm also recently announced 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. The ex-dividend date was Thursday, August 15th. This represents a $2.30 annualized dividend and a dividend yield of 2.93%. Chesapeake Energy’s payout ratio is 31.00%.

Institutional Investors Weigh In On Chesapeake Energy

Institutional investors and hedge funds have recently made changes to their positions in the business. Wealth Enhancement Advisory Services LLC boosted its holdings in Chesapeake Energy by 705.4% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 29,229 shares of the company’s stock worth $2,402,000 after acquiring an additional 25,600 shares in the last quarter. Quantbot Technologies LP bought a new position in Chesapeake Energy in the first quarter worth approximately $1,006,000. Russell Investments Group Ltd. boosted its holdings in Chesapeake Energy by 66.4% in the first quarter. Russell Investments Group Ltd. now owns 119,470 shares of the company’s stock worth $10,612,000 after acquiring an additional 47,658 shares in the last quarter. Allspring Global Investments Holdings LLC bought a new position in Chesapeake Energy in the first quarter worth approximately $37,000. Finally, Wedge Capital Management L L P NC boosted its holdings in Chesapeake Energy by 16.2% in the second quarter. Wedge Capital Management L L P NC now owns 284,263 shares of the company’s stock worth $23,364,000 after acquiring an additional 39,734 shares in the last quarter. Institutional investors own 97.93% of the company’s stock.

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.