Chesapeake Energy (NASDAQ:CHK) Rating Lowered to Sell at StockNews.com

by · The Cerbat Gem

StockNews.com downgraded shares of Chesapeake Energy (NASDAQ:CHK – Free Report) from a hold rating to a sell rating in a research note published on Thursday.

Several other brokerages also recently issued reports on CHK. JPMorgan Chase & Co. downgraded Chesapeake Energy from an overweight rating to a neutral rating and reduced their price objective for the company from $97.00 to $96.00 in a research report on Wednesday, August 16th. Truist Financial upped their target price on shares of Chesapeake Energy from $110.00 to $112.00 and gave the company a buy rating in a report on Friday, November 3rd. Bank of America raised their price target on shares of Chesapeake Energy from $144.00 to $147.00 in a research note on Wednesday, September 27th. UBS Group upped their price objective on shares of Chesapeake Energy from $102.00 to $106.00 and gave the company a buy rating in a research note on Thursday, August 17th. Finally, Wells Fargo & Company decreased their target price on shares of Chesapeake Energy from $89.00 to $88.00 and set an equal weight rating on the stock in a research report on Wednesday, November 22nd. One analyst has rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, Chesapeake Energy has an average rating of Hold and an average price target of $109.73.

View Our Latest Stock Report on Chesapeake Energy

Chesapeake Energy Stock Performance

Shares of CHK opened at $80.60 on Thursday. The company has a 50-day moving average of $84.64 and a two-hundred day moving average of $83.78. The stock has a market cap of $10.56 billion, a P/E ratio of 2.19 and a beta of 0.54. Chesapeake Energy has a 12-month low of $69.68 and a 12-month high of $104.32. The company has a current ratio of 1.56, a quick ratio of 1.56 and a debt-to-equity ratio of 0.20.

Chesapeake Energy (NASDAQ:CHK – Get Free Report) last issued its quarterly earnings data on Tuesday, October 31st. The company reported $1.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.52. Chesapeake Energy had a return on equity of 11.33% and a net margin of 49.82%. The firm had revenue of $1.51 billion during the quarter, compared to the consensus estimate of $1.47 billion. During the same period in the previous year, the firm posted $5.06 EPS. The company’s quarterly revenue was down 52.2% compared to the same quarter last year. As a group, research analysts predict that Chesapeake Energy will post 4.67 EPS for the current fiscal year.

Chesapeake Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 6th. Shareholders of record on Thursday, November 16th will be paid a dividend of $0.575 per share. This represents a $2.30 dividend on an annualized basis and a yield of 2.85%. The ex-dividend date is Wednesday, November 15th. Chesapeake Energy’s dividend payout ratio is currently 6.25%.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the company. American Century Companies Inc. grew its holdings in shares of Chesapeake Energy by 27.4% during the 3rd quarter. American Century Companies Inc. now owns 105,242 shares of the company’s stock worth $9,075,000 after purchasing an additional 22,612 shares during the period. Deutsche Bank AG lifted its position in Chesapeake Energy by 14.7% during the third quarter. Deutsche Bank AG now owns 261,978 shares of the company’s stock valued at $22,590,000 after buying an additional 33,660 shares in the last quarter. Public Sector Pension Investment Board lifted its position in Chesapeake Energy by 12.6% during the third quarter. Public Sector Pension Investment Board now owns 14,262 shares of the company’s stock valued at $1,230,000 after buying an additional 1,600 shares in the last quarter. Comerica Bank purchased a new stake in Chesapeake Energy during the third quarter worth approximately $7,176,000. Finally, Hohimer Wealth Management LLC increased its position in shares of Chesapeake Energy by 1.5% in the third quarter. Hohimer Wealth Management LLC now owns 13,528 shares of the company’s stock worth $1,167,000 after acquiring an additional 200 shares in the last quarter. 97.93% of the stock is owned by hedge funds and other institutional investors.

About Chesapeake Energy

(Get Free Report)

Chesapeake Energy Corporation, an independent exploration and production company, engages in the acquisition, exploration, and development of properties to produce oil, natural gas, and natural gas liquids from underground reservoirs in the United States. 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.

See Also