Chesapeake Energy (NASDAQ:EXE) Hits New 52-Week High - Here's Why

Shares of Chesapeake Energy Corporation (NASDAQ:EXE - Get Free Report) hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $118.89 and last traded at $118.21, with a volume of 245813 shares traded. The stock had previously closed at $116.13.

Analyst Upgrades and Downgrades

Several brokerages recently commented on EXE. Morgan Stanley upped their price target on shares of Chesapeake Energy from $137.00 to $154.00 and gave the company an "overweight" rating in a report on Thursday, March 27th. Barclays upgraded shares of Chesapeake Energy from an "equal weight" rating to an "overweight" rating and increased their price objective for the stock from $115.00 to $122.00 in a research note on Tuesday, April 15th. Benchmark raised their price target on shares of Chesapeake Energy from $93.00 to $112.00 and gave the company a "buy" rating in a research report on Thursday, April 3rd. Wells Fargo & Company increased their price objective on shares of Chesapeake Energy from $107.00 to $112.00 and gave the company an "equal weight" rating in a report on Wednesday, April 2nd. Finally, KeyCorp raised shares of Chesapeake Energy from a "sector weight" rating to an "overweight" rating and set a $130.00 price target on the stock in a research note on Monday, April 21st. One research analyst has rated the stock with a hold rating, sixteen have given a buy rating and three have given a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Buy" and an average price target of $126.79.

Chesapeake Energy Stock Down 0.5%

The business has a 50 day moving average of $109.14 and a 200 day moving average of $104.42. The company has a debt-to-equity ratio of 0.20, a current ratio of 2.00 and a quick ratio of 2.00. The firm has a market capitalization of $27.50 billion, a price-to-earnings ratio of 71.34 and a beta of 0.49.

Chesapeake Energy (NASDAQ:EXE - Get Free Report) last announced its earnings results on Tuesday, April 29th. The company reported $2.02 earnings per share for the quarter, beating analysts' consensus estimates of $1.85 by $0.17. The company had revenue of $2.20 billion during the quarter, compared to analyst estimates of $2.10 billion. Chesapeake Energy had a return on equity of 2.74% and a net margin of 6.07%. On average, equities analysts anticipate that Chesapeake Energy Corporation will post 1.33 EPS for the current year.

Chesapeake Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 4th. Shareholders of record on Thursday, May 15th were paid a $0.575 dividend. This represents a $2.30 annualized dividend and a yield of 1.99%. The ex-dividend date of this dividend was Thursday, May 15th. Chesapeake Energy's payout ratio is -42.91%.

Institutional Investors Weigh In On Chesapeake Energy

A number of large investors have recently added to or reduced their stakes in EXE. Transamerica Financial Advisors LLC acquired a new position in Chesapeake Energy in the 1st quarter valued at $27,000. Harbour Investments Inc. acquired a new stake in shares of Chesapeake Energy during the 1st quarter worth $27,000. First Horizon Advisors Inc. acquired a new stake in shares of Chesapeake Energy during the 1st quarter worth $28,000. Quarry LP acquired a new stake in shares of Chesapeake Energy during the 1st quarter worth $28,000. Finally, Pinney & Scofield Inc. acquired a new stake in shares of Chesapeake Energy during the 1st quarter worth $29,000. Institutional investors own 97.93% of the company's stock.

About Chesapeake Energy

Expand Energy Corporation is an independent natural gas producer principally in the United States. Expand Energy Corporation, formerly known as Chesapeake Energy Corporation, is based in OKLAHOMA CITY.