Jennison Associates LLC reduced its holdings in Chesapeake Energy Co. (NASDAQ:CHK - Free Report) by 20.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 197,552 shares of the company's stock after selling 52,179 shares during the period. Jennison Associates LLC owned about 0.15% of Chesapeake Energy worth $15,200,000 at the end of the most recent quarter.
Other institutional investors also recently bought and sold shares of the company. Deutsche Bank AG boosted its stake in shares of Chesapeake Energy by 14.7% in the third quarter. Deutsche Bank AG now owns 261,978 shares of the company's stock worth $22,590,000 after acquiring an additional 33,660 shares during the last quarter. State of Alaska Department of Revenue boosted its stake in Chesapeake Energy by 204.0% during the third quarter. State of Alaska Department of Revenue now owns 19,925 shares of the company's stock worth $1,717,000 after buying an additional 13,370 shares during the last quarter. Townsquare Capital LLC boosted its stake in Chesapeake Energy by 6.6% during the third quarter. Townsquare Capital LLC now owns 13,104 shares of the company's stock worth $1,130,000 after buying an additional 816 shares during the last quarter. Yousif Capital Management LLC acquired a new position in Chesapeake Energy during the third quarter worth $4,510,000. Finally, Cottage Street Advisors LLC acquired a new position in Chesapeake Energy during the third quarter worth $1,693,000. 97.93% of the stock is owned by institutional investors and hedge funds.
Chesapeake Energy Stock Performance
Shares of NASDAQ CHK traded up $0.59 during trading hours on Friday, reaching $92.06. The stock had a trading volume of 1,515,468 shares, compared to its average volume of 2,031,055. The firm has a market cap of $12.04 billion, a price-to-earnings ratio of 5.40 and a beta of 0.52. The company has a current ratio of 1.99, a quick ratio of 1.99 and a debt-to-equity ratio of 0.19. Chesapeake Energy Co. has a fifty-two week low of $72.84 and a fifty-two week high of $92.25. The firm has a 50-day moving average of $85.63 and a 200-day moving average of $82.14.
Chesapeake Energy (NASDAQ:CHK - Get Free Report) last announced its earnings results on Tuesday, February 20th. The company reported $1.31 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.42 by $0.89. The firm had revenue of $1.95 billion during the quarter, compared to analysts' expectations of $962.95 million. Chesapeake Energy had a return on equity of 6.74% and a net margin of 27.74%. During the same period in the prior year, the firm earned $4.22 EPS. Equities research analysts predict that Chesapeake Energy Co. will post 1.76 earnings per share for the current year.
Chesapeake Energy Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 26th. Shareholders of record on Thursday, March 7th were paid a dividend of $0.575 per share. This represents a $2.30 annualized dividend and a yield of 2.50%. The ex-dividend date was Wednesday, March 6th. Chesapeake Energy's dividend payout ratio is presently 13.66%.
Wall Street Analysts Forecast Growth
CHK has been the topic of a number of recent research reports. UBS Group boosted their price objective on Chesapeake Energy from $92.00 to $94.00 and gave the stock a "neutral" rating in a research note on Wednesday, April 10th. Truist Financial reduced their target price 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. Scotiabank lifted their target price on Chesapeake Energy from $92.00 to $110.00 and gave the company a "sector perform" rating in a research report on Thursday, April 11th. Barclays started coverage on Chesapeake Energy in a research report on Wednesday, April 10th. They issued an "equal weight" rating and a $102.00 target price on the stock. Finally, KeyCorp started coverage on Chesapeake Energy in a research report on Thursday, April 4th. They issued a "sector weight" rating on the stock. One research analyst has rated the stock with a sell rating, six have issued a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $104.73.
Read Our Latest Analysis on CHK
About Chesapeake Energy
(
Free Report)
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.
Further Reading
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