Gradient Investments LLC Buys Shares of 20,349 Chesapeake Energy Corporation (NASDAQ:EXE)

Gradient Investments LLC acquired a new position in Chesapeake Energy Corporation (NASDAQ:EXE - Free Report) during the first quarter, according to the company in its most recent filing with the SEC. The fund acquired 20,349 shares of the company's stock, valued at approximately $2,265,000.

A number of other institutional investors have also recently added to or reduced their stakes in EXE. Peoples Bank KS acquired a new stake in shares of Chesapeake Energy in the 1st quarter valued at about $33,000. Future Financial Wealth Managment LLC acquired a new stake in shares of Chesapeake Energy in the 1st quarter worth approximately $56,000. Parallel Advisors LLC acquired a new stake in shares of Chesapeake Energy in the 1st quarter worth approximately $286,000. Doliver Advisors LP acquired a new stake in shares of Chesapeake Energy in the 1st quarter worth approximately $446,000. Finally, Fifth Third Wealth Advisors LLC acquired a new stake in Chesapeake Energy during the first quarter valued at approximately $466,000. Institutional investors and hedge funds own 97.93% of the company's stock.

Chesapeake Energy Stock Performance

NASDAQ EXE traded down $2.02 on Wednesday, hitting $116.20. 2,146,630 shares of the stock traded hands, compared to its average volume of 3,411,063. The business's fifty day moving average is $109.06 and its two-hundred day moving average is $104.29. Chesapeake Energy Corporation has a 12 month low of $81.66 and a 12 month high of $120.04. The firm has a market capitalization of $27.65 billion, a price-to-earnings ratio of 71.73 and a beta of 0.49. The company has a debt-to-equity ratio of 0.20, a quick ratio of 2.00 and a current ratio of 2.00.

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

Chesapeake Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 4th. Investors of record on Thursday, May 15th will be paid a $0.575 dividend. The ex-dividend date of this dividend is Thursday, May 15th. This represents a $2.30 annualized dividend and a dividend yield of 1.98%. Chesapeake Energy's payout ratio is presently -42.91%.

Analyst Upgrades and Downgrades

Several brokerages recently commented on EXE. TD Cowen upgraded shares of Chesapeake Energy from a "hold" rating to a "buy" rating and upped their price target for the company from $108.00 to $116.00 in a research report on Tuesday, April 8th. KeyCorp upgraded 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. Wells Fargo & Company raised their target price on shares of Chesapeake Energy from $107.00 to $112.00 and gave the company an "equal weight" rating in a research note on Wednesday, April 2nd. Sanford C. Bernstein upgraded shares of Chesapeake Energy to a "strong-buy" rating and set a $150.00 price target on the stock in a research report on Thursday, May 22nd. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Chesapeake Energy from $115.00 to $114.00 and set an "overweight" rating for the company in a report on Thursday, March 13th. One research analyst has rated the stock with a hold rating, sixteen have issued a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Buy" and a consensus price target of $126.79.

Chesapeake Energy Profile

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.