PNC Financial Services Group Inc. decreased its holdings in shares of Chesapeake Energy Co. (NASDAQ:CHK – Free Report) by 57.6% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 3,042 shares of the company’s stock after selling 4,139 shares during the period. PNC Financial Services Group Inc.’s holdings in Chesapeake Energy were worth $234,000 at the end of the most recent quarter.
Several other hedge funds have also made changes to their positions in the business. Vanguard Group Inc. raised its holdings in Chesapeake Energy by 2.0% during the third quarter. Vanguard Group Inc. now owns 12,852,961 shares of the company’s stock worth $1,108,311,000 after purchasing an additional 257,880 shares in the last quarter. Massachusetts Financial Services Co. MA raised its holdings in Chesapeake Energy by 5.2% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 4,317,920 shares of the company’s stock worth $332,221,000 after purchasing an additional 213,235 shares in the last quarter. Lord Abbett & CO. LLC raised its holdings in Chesapeake Energy by 18.6% during the third quarter. Lord Abbett & CO. LLC now owns 2,723,456 shares of the company’s stock worth $234,844,000 after purchasing an additional 426,560 shares in the last quarter. FMR LLC raised its holdings in Chesapeake Energy by 4.8% during the third quarter. FMR LLC now owns 2,448,847 shares of the company’s stock worth $211,164,000 after purchasing an additional 111,294 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in Chesapeake Energy by 15.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,958,837 shares of the company’s stock worth $150,723,000 after purchasing an additional 265,853 shares in the last quarter. Institutional investors and hedge funds own 97.93% of the company’s stock.
Analyst Upgrades and Downgrades
Several research analysts recently issued reports on the stock. Mizuho increased their price target on shares of Chesapeake Energy from $101.00 to $111.00 and gave the stock a “buy” rating in a report on Monday, May 13th. KeyCorp began coverage on shares of Chesapeake Energy in a report on Thursday, April 4th. They issued a “sector weight” rating for the company. UBS Group increased their target price on shares of Chesapeake Energy from $92.00 to $94.00 and gave the company a “neutral” rating in a report on Wednesday, April 10th. Scotiabank increased their target price on shares of Chesapeake Energy from $92.00 to $110.00 and gave the company a “sector perform” rating in a report on Thursday, April 11th. Finally, Stephens increased their target price on shares of Chesapeake Energy from $116.00 to $117.00 and gave the company an “equal weight” rating in a report on Wednesday, May 1st. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $106.67.
Check Out Our Latest Stock Analysis on CHK
Chesapeake Energy Stock Down 0.6 %
Shares of CHK opened at $88.31 on Friday. The firm has a market cap of $11.57 billion, a PE ratio of 11.90 and a beta of 0.50. The company’s fifty day moving average is $89.34 and its two-hundred day moving average is $82.92. Chesapeake Energy Co. has a fifty-two week low of $72.84 and a fifty-two week high of $93.58. The company has a quick ratio of 2.33, a current ratio of 2.33 and a debt-to-equity ratio of 0.19.
Chesapeake Energy (NASDAQ:CHK – Get Free Report) last announced its quarterly earnings results on Tuesday, April 30th. The company reported $0.56 earnings per share for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.08). The company had revenue of $1.08 billion during the quarter, compared to analyst estimates of $674.99 million. Chesapeake Energy had a net margin of 16.42% and a return on equity of 4.87%. During the same quarter last year, the business earned $1.87 EPS. Analysts forecast that Chesapeake Energy Co. will post 0.98 earnings per share for the current year.
Chesapeake Energy Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Wednesday, June 5th. Shareholders of record on Thursday, May 16th were issued a $0.715 dividend. This represents a $2.86 dividend on an annualized basis and a dividend yield of 3.24%. The ex-dividend date was Wednesday, May 15th. This is a positive change from Chesapeake Energy’s previous quarterly dividend of $0.58. Chesapeake Energy’s dividend payout ratio (DPR) is 31.00%.
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.
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