Hennessy Advisors Inc. Acquires New Shares in Chesapeake Energy Corporation (NASDAQ:EXE)

Hennessy Advisors Inc. acquired a new position in shares of Chesapeake Energy Corporation (NASDAQ:EXE - Free Report) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 3,500 shares of the company's stock, valued at approximately $390,000.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Princeton Global Asset Management LLC purchased a new position in shares of Chesapeake Energy during the 1st quarter valued at about $31,000. Peoples Bank KS purchased a new position in Chesapeake Energy during the first quarter valued at approximately $33,000. Future Financial Wealth Managment LLC acquired a new position in Chesapeake Energy in the first quarter valued at approximately $56,000. Piscataqua Savings Bank purchased a new stake in Chesapeake Energy in the 1st quarter worth approximately $58,000. Finally, Sentry Investment Management LLC purchased a new stake in Chesapeake Energy in the 1st quarter worth approximately $78,000. 97.93% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

EXE has been the subject of several analyst reports. Piper Sandler boosted their target price on shares of Chesapeake Energy from $136.00 to $139.00 and gave the company an "overweight" rating in a research note on Wednesday, May 28th. Benchmark increased their target price on shares of Chesapeake Energy from $93.00 to $112.00 and gave the stock a "buy" rating in a research note on Thursday, April 3rd. KeyCorp raised their target price on Chesapeake Energy from $130.00 to $135.00 and gave the company an "overweight" rating in a research report on Friday. TD Cowen raised Chesapeake Energy from a "hold" rating to a "buy" rating and upped their price target for the stock from $108.00 to $116.00 in a report on Tuesday, April 8th. Finally, Barclays upgraded Chesapeake Energy from an "equal weight" rating to an "overweight" rating and boosted their price objective for the company from $115.00 to $122.00 in a research report on Tuesday, April 15th. One analyst has rated the stock with a hold rating, sixteen have issued a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus price target of $127.16.

Chesapeake Energy Price Performance

EXE traded up $2.15 during trading on Monday, reaching $118.61. The company's stock had a trading volume of 2,616,859 shares, compared to its average volume of 3,839,970. The company has a market cap of $28.23 billion, a price-to-earnings ratio of 73.22 and a beta of 0.49. The firm has a fifty day simple moving average of $110.17 and a two-hundred day simple moving average of $105.18. Chesapeake Energy Corporation has a 1 year low of $69.12 and a 1 year high of $120.04. The company has a quick ratio of 2.00, a current ratio of 2.00 and a debt-to-equity ratio of 0.20.

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

Chesapeake Energy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 4th. Stockholders of record on Thursday, May 15th were given a dividend of $0.575 per share. The ex-dividend date of this dividend was Thursday, May 15th. This represents a $2.30 annualized dividend and a dividend yield of 1.94%. Chesapeake Energy's payout ratio is -42.91%.

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.