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Chesapeake Energy Co. (NASDAQ:CHK – Get Rating) – Equities researchers at Capital One Financial reduced their Q3 2022 earnings per share estimates for shares of Chesapeake Energy in a note issued to investors on Wednesday, April 20th. Capital One Financial analyst P. Johnston now anticipates that the company will earn $2.97 per share for the quarter, down from their prior forecast of $2.98. Capital One Financial also issued estimates for Chesapeake Energy’s Q4 2022 earnings at $3.32 EPS.
Several other equities research analysts also recently commented on the stock. Zacks Investment Research downgraded shares of Chesapeake Energy from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 5th. Wells Fargo & Company increased their target price on shares of Chesapeake Energy from $88.00 to $98.00 and gave the stock an “overweight” rating in a research report on Monday, March 14th. JPMorgan Chase & Co. started coverage on shares of Chesapeake Energy in a research report on Friday, February 11th. They issued an “overweight” rating and a $85.00 target price for the company. Royal Bank of Canada increased their target price on shares of Chesapeake Energy from $88.00 to $98.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 8th. Finally, Bank of America started coverage on shares of Chesapeake Energy in a research report on Monday, January 10th. They issued a “buy” rating and a $90.00 target price for the company. One analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $89.55.
Chesapeake Energy (NASDAQ:CHK – Get Rating) last released its earnings results on Wednesday, February 23rd. The company reported $2.39 EPS for the quarter, missing the consensus estimate of $2.40 by ($0.01). Chesapeake Energy had a net margin of 108.93% and a return on equity of 160.87%. The business had revenue of $3.09 billion for the quarter, compared to analyst estimates of $1.08 billion. During the same period in the prior year, the company earned ($42.54) earnings per share.
Large investors have recently added to or reduced their stakes in the company. Strs Ohio lifted its holdings in Chesapeake Energy by 19.2% during the 3rd quarter. Strs Ohio now owns 11,800 shares of the company’s stock valued at $726,000 after purchasing an additional 1,900 shares during the last quarter. State of New Jersey Common Pension Fund D grew its position in shares of Chesapeake Energy by 4.5% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 50,661 shares of the company’s stock worth $3,120,000 after buying an additional 2,195 shares during the period. SG Americas Securities LLC grew its position in shares of Chesapeake Energy by 574.0% during the 3rd quarter. SG Americas Securities LLC now owns 27,740 shares of the company’s stock worth $1,709,000 after buying an additional 23,624 shares during the period. Raymond James & Associates acquired a new stake in shares of Chesapeake Energy during the 3rd quarter worth approximately $257,000. Finally, Shell Asset Management Co. grew its position in shares of Chesapeake Energy by 56.0% during the 3rd quarter. Shell Asset Management Co. now owns 9,149 shares of the company’s stock worth $563,000 after buying an additional 3,284 shares during the period.
In other Chesapeake Energy news, major shareholder Holdings L.P. Blackstone III sold 186,085 shares of the stock in a transaction on Monday, April 18th. The shares were sold at an average price of $96.25, for a total value of $17,910,681.25. Following the completion of the sale, the insider now directly owns 4,156,830 shares of the company’s stock, valued at approximately $400,094,887.50. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.
The company also recently announced a quarterly dividend, which was paid on Tuesday, March 22nd. Investors of record on Monday, March 7th were paid a $0.438 dividend. The ex-dividend date of this dividend was Friday, March 4th. This is a positive change from Chesapeake Energy’s previous quarterly dividend of $0.44. This represents a $1.75 dividend on an annualized basis and a yield of 1.92%.
About Chesapeake Energy (Get Rating)
Chesapeake Energy Corporation, an independent exploration and production company, engages in the acquisition, exploration, and development of properties for the production of 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; and the liquids-rich resource play in the Eagle Ford Shale in South Texas.
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