Chesapeake Energy Co. (NASDAQ:CHK – Get Rating) – Equities researchers at Capital One Financial increased their Q2 2022 EPS estimates for Chesapeake Energy in a note issued to investors on Wednesday, May 18th. Capital One Financial analyst P. Johnston now expects that the company will post earnings of $3.67 per share for the quarter, up from their prior forecast of $2.48. Capital One Financial also issued estimates for Chesapeake Energy’s Q3 2022 earnings at $4.75 EPS, Q4 2022 earnings at $5.18 EPS, FY2022 earnings at $16.70 EPS and FY2023 earnings at $22.19 EPS.
Other equities analysts have also issued reports about the stock. Royal Bank of Canada raised 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. TheStreet lowered shares of Chesapeake Energy from a “c-” rating to a “d” rating in a research report on Thursday, May 5th. Zacks Investment Research raised shares of Chesapeake Energy from a “hold” rating to a “strong-buy” rating and set a $94.00 target price on the stock in a research report on Monday, May 2nd. MKM Partners raised their target price on shares of Chesapeake Energy from $95.00 to $98.00 and gave the stock a “buy” rating in a research report on Wednesday, January 26th. Finally, JPMorgan Chase & Co. initiated coverage on shares of Chesapeake Energy in a research report on Friday, February 11th. They set an “overweight” rating and a $85.00 target price on the stock. Eleven investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $89.00.
Chesapeake Energy (NASDAQ:CHK – Get Rating) last announced its quarterly earnings data on Wednesday, May 4th. The company reported $3.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.43 by $0.66. The business had revenue of $935.00 million during the quarter, compared to the consensus estimate of $1.34 billion. Chesapeake Energy had a negative net margin of 2.03% and a positive return on equity of 27.28%. The business’s revenue was up 6.3% on a year-over-year basis.
Several large investors have recently bought and sold shares of CHK. Loomis Sayles & Co. L P lifted its position in Chesapeake Energy by 27.9% during the fourth quarter. Loomis Sayles & Co. L P now owns 867 shares of the company’s stock valued at $56,000 after purchasing an additional 189 shares during the period. Comerica Bank lifted its position in Chesapeake Energy by 3.0% during the first quarter. Comerica Bank now owns 8,529 shares of the company’s stock valued at $792,000 after purchasing an additional 245 shares during the period. Private Ocean LLC acquired a new position in Chesapeake Energy during the first quarter valued at $26,000. Captrust Financial Advisors lifted its position in Chesapeake Energy by 5.7% during the first quarter. Captrust Financial Advisors now owns 5,673 shares of the company’s stock valued at $494,000 after purchasing an additional 308 shares during the period. Finally, First Mercantile Trust Co. lifted its position in Chesapeake Energy by 30.6% during the third quarter. First Mercantile Trust Co. now owns 1,360 shares of the company’s stock valued at $84,000 after purchasing an additional 319 shares during the period.
In other news, major shareholder Holdings L.P. Blackstone III sold 8,700 shares of Chesapeake Energy stock in a transaction on Thursday, May 5th. The shares were sold at an average price of $95.08, for a total transaction of $827,196.00. Following the completion of the sale, the insider now directly owns 1,315,899 shares in the company, valued at $125,115,676.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders sold 201,750 shares of company stock worth $19,399,901 over the last ninety days. Corporate insiders own 1.10% of the company’s stock.
The company also recently declared a None dividend, which will be paid on Thursday, June 2nd. Shareholders of record on Thursday, May 19th will be issued a $2.34 dividend. This is a positive change from Chesapeake Energy’s previous None dividend of $0.44. This represents a yield of 2.1%. The ex-dividend date of this dividend is Wednesday, May 18th. Chesapeake Energy’s payout ratio is currently -62.89%.
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.
- Get a free copy of the StockNews.com research report on Chesapeake Energy (CHK)
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