Wedmont Private Capital bought a new stake in shares of Chesapeake Energy Corporation (NASDAQ:EXE - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 6,214 shares of the company's stock, valued at approximately $643,000.
Several other hedge funds have also recently made changes to their positions in EXE. Woodstock Corp bought a new stake in Chesapeake Energy in the first quarter worth $5,646,000. Merit Financial Group LLC purchased a new stake in shares of Chesapeake Energy in the first quarter valued at $1,927,000. Intellectus Partners LLC bought a new stake in shares of Chesapeake Energy in the 1st quarter worth about $565,000. Romano Brothers AND Company bought a new stake in shares of Chesapeake Energy in the 1st quarter worth about $2,900,000. Finally, Czech National Bank purchased a new position in shares of Chesapeake Energy during the 1st quarter worth about $5,377,000. 97.93% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
A number of research firms recently weighed in on EXE. Stephens reduced their price objective on shares of Chesapeake Energy from $123.00 to $118.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 15th. UBS Group reduced their price objective on Chesapeake Energy from $131.00 to $129.00 and set a "buy" rating on the stock in a report on Thursday, April 17th. Piper Sandler increased their price objective 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. Barclays raised Chesapeake Energy from an "equal weight" rating to an "overweight" rating and raised their price objective for the company from $115.00 to $122.00 in a research report on Tuesday, April 15th. Finally, Wells Fargo & Company upped their price target on Chesapeake Energy from $107.00 to $112.00 and gave the stock an "equal weight" rating in a research report on Wednesday, April 2nd. One research analyst has rated the stock with a hold rating, sixteen have assigned a buy rating and three have assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus target price of $126.79.
Read Our Latest Stock Analysis on EXE
Chesapeake Energy Stock Performance
Shares of EXE traded down $2.37 during mid-day trading on Tuesday, reaching $112.57. The company had a trading volume of 3,332,088 shares, compared to its average volume of 3,384,356. The stock has a market capitalization of $26.79 billion, a P/E ratio of 69.49 and a beta of 0.49. Chesapeake Energy Corporation has a 52-week low of $81.66 and a 52-week high of $120.04. The stock has a 50 day moving average of $109.26 and a two-hundred day moving average of $104.75. 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 announced its quarterly earnings results 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 net margin of 6.07% and a return on equity of 2.74%. The firm had revenue of $2.20 billion for the quarter, compared to the consensus estimate of $2.10 billion. On average, analysts expect that Chesapeake Energy Corporation will post 1.33 earnings per share for the current year.
Chesapeake Energy Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 4th. Investors of record on Thursday, May 15th were paid a $0.575 dividend. The ex-dividend date of this dividend was Thursday, May 15th. This represents a $2.30 annualized dividend and a dividend yield of 2.04%. Chesapeake Energy's dividend payout ratio is presently -42.91%.
Chesapeake Energy Company Profile
(
Free Report)
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.
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