Foundry Partners LLC Trims Holdings in Chesapeake Energy Co. (NASDAQ:CHK)

Foundry Partners LLC cut its stake in Chesapeake Energy Co. (NASDAQ:CHK - Free Report) by 24.2% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 168,517 shares of the company's stock after selling 53,730 shares during the quarter. Foundry Partners LLC owned about 0.13% of Chesapeake Energy worth $12,966,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the stock. Belpointe Asset Management LLC grew its position in Chesapeake Energy by 478.3% during the first quarter. Belpointe Asset Management LLC now owns 347 shares of the company's stock worth $26,000 after buying an additional 287 shares in the last quarter. Parkside Financial Bank & Trust grew its position in Chesapeake Energy by 132.1% during the second quarter. Parkside Financial Bank & Trust now owns 362 shares of the company's stock worth $30,000 after buying an additional 206 shares in the last quarter. Salem Investment Counselors Inc. purchased a new position in Chesapeake Energy during the first quarter worth about $32,000. Gladius Capital Management LP purchased a new position in Chesapeake Energy during the third quarter worth about $36,000. Finally, Covestor Ltd grew its position in Chesapeake Energy by 292.0% during the first quarter. Covestor Ltd now owns 439 shares of the company's stock worth $38,000 after buying an additional 327 shares in the last quarter. 97.93% of the stock is currently owned by hedge funds and other institutional investors.

Chesapeake Energy Trading Up 0.2 %

CHK traded up $0.19 on Friday, hitting $87.51. 1,217,226 shares of the company were exchanged, compared to its average volume of 1,419,442. The firm has a fifty day simple moving average of $84.61 and a two-hundred day simple moving average of $81.97. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.99 and a current ratio of 1.99. Chesapeake Energy Co. has a 12 month low of $72.84 and a 12 month high of $91.03. The stock has a market capitalization of $11.45 billion, a PE ratio of 5.20 and a beta of 0.52.

Chesapeake Energy (NASDAQ:CHK - Get Free Report) last posted its quarterly earnings results on Tuesday, February 20th. The company reported $1.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.42 by $0.89. Chesapeake Energy had a return on equity of 6.74% and a net margin of 27.74%. The business had revenue of $1.95 billion for the quarter, compared to analyst estimates of $962.95 million. During the same period last year, the company earned $4.22 EPS. Sell-side analysts expect that Chesapeake Energy Co. will post 2.03 earnings per share for the current year.

Chesapeake Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 26th. Shareholders of record on Thursday, March 7th were issued a $0.575 dividend. This represents a $2.30 annualized dividend and a yield of 2.63%. The ex-dividend date of this dividend was Wednesday, March 6th. Chesapeake Energy's dividend payout ratio (DPR) is currently 13.66%.

Wall Street Analyst Weigh In

CHK has been the subject of several recent analyst reports. Citigroup upgraded Chesapeake Energy from a "neutral" rating to a "buy" rating and boosted their target price for the stock from $82.00 to $95.00 in a research report on Friday, January 12th. Truist Financial reduced their price objective on Chesapeake Energy from $119.00 to $112.00 and set a "buy" rating on the stock in a research report on Friday, April 5th. UBS Group increased their price objective on Chesapeake Energy from $92.00 to $94.00 and gave the company a "neutral" rating in a research report on Wednesday, April 10th. TheStreet lowered Chesapeake Energy from a "b-" rating to a "c+" rating in a research report on Friday, December 29th. Finally, Benchmark reduced their price objective on Chesapeake Energy from $107.00 to $93.00 and set a "buy" rating on the stock in a research report on Tuesday, April 9th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $103.58.

Chesapeake Energy 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.

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