Truist Financial Corp Sells 37,370 Shares of Chesapeake Energy Co. (NASDAQ:CHK)

Truist Financial Corp reduced its holdings in shares of Chesapeake Energy Co. (NASDAQ:CHK - Free Report) by 49.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 38,661 shares of the company's stock after selling 37,370 shares during the period. Truist Financial Corp's holdings in Chesapeake Energy were worth $2,975,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. SG Americas Securities LLC grew its stake in shares of Chesapeake Energy by 11.1% during the 3rd quarter. SG Americas Securities LLC now owns 2,399 shares of the company's stock valued at $207,000 after acquiring an additional 239 shares during the period. Raymond James & Associates raised its position in shares of Chesapeake Energy by 3.3% during the 3rd quarter. Raymond James & Associates now owns 185,535 shares of the company's stock valued at $15,999,000 after purchasing an additional 5,857 shares during the period. Stratos Wealth Partners LTD. lifted its stake in shares of Chesapeake Energy by 4.8% during the 3rd quarter. Stratos Wealth Partners LTD. now owns 3,607 shares of the company's stock valued at $311,000 after buying an additional 165 shares in the last quarter. New York State Teachers Retirement System bought a new position in Chesapeake Energy in the 3rd quarter worth $7,561,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Chesapeake Energy by 12.7% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 43,430 shares of the company's stock worth $3,745,000 after buying an additional 4,892 shares in the last quarter. 97.93% of the stock is currently owned by institutional investors.

Chesapeake Energy Trading Down 0.3 %

Shares of CHK traded down $0.25 during midday trading on Wednesday, hitting $88.37. 1,195,093 shares of the stock were exchanged, compared to its average volume of 2,053,536. The firm has a market cap of $11.58 billion, a P/E ratio of 11.94 and a beta of 0.51. The company has a debt-to-equity ratio of 0.19, a quick ratio of 2.33 and a current ratio of 2.33. Chesapeake Energy Co. has a 52-week low of $72.84 and a 52-week high of $93.58. The stock has a fifty day simple moving average of $86.93 and a 200 day simple moving average of $82.05.

Chesapeake Energy (NASDAQ:CHK - Get Free Report) last posted its quarterly earnings data on Tuesday, April 30th. The company reported $0.56 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.64 by ($0.08). Chesapeake Energy had a return on equity of 4.87% and a net margin of 16.42%. The business had revenue of $1.08 billion for the quarter, compared to analyst estimates of $674.99 million. During the same quarter last year, the business earned $1.87 EPS. On average, research analysts anticipate that Chesapeake Energy Co. will post 1.19 EPS for the current fiscal year.

Chesapeake Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 5th. Investors of record on Thursday, May 16th will be paid a dividend of $0.715 per share. This is a boost from Chesapeake Energy's previous quarterly dividend of $0.58. This represents a $2.86 dividend on an annualized basis and a dividend yield of 3.24%. The ex-dividend date of this dividend is Wednesday, May 15th. Chesapeake Energy's payout ratio is currently 31.00%.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on CHK shares. Barclays started coverage on shares of Chesapeake Energy in a report on Wednesday, April 10th. They issued an "equal weight" rating and a $102.00 price target on the stock. Benchmark dropped their price target on Chesapeake Energy from $107.00 to $93.00 and set a "buy" rating for the company in a research note on Thursday, May 2nd. KeyCorp assumed coverage on Chesapeake Energy in a report on Thursday, April 4th. They set a "sector weight" rating on the stock. Citigroup raised shares of Chesapeake Energy from a "neutral" rating to a "buy" rating and raised their target price for the company from $82.00 to $95.00 in a report on Friday, January 12th. Finally, Scotiabank upped their price target on shares of Chesapeake Energy from $92.00 to $110.00 and gave the company a "sector perform" rating in a research note on Thursday, April 11th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $105.83.

Chesapeake Energy Company 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.