Truist Financial Corp Buys New Holdings in Chesapeake Energy Co. (NASDAQ:CHK)

Truist Financial Corp bought a new stake in shares of Chesapeake Energy Co. (NASDAQ:CHKGet Rating) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 104,383 shares of the company’s stock, valued at approximately $9,834,000. Truist Financial Corp owned 0.09% of Chesapeake Energy at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Prelude Capital Management LLC grew its holdings in Chesapeake Energy by 100.2% during the 1st quarter. Prelude Capital Management LLC now owns 10,014 shares of the company’s stock valued at $871,000 after buying an additional 6,175,883 shares in the last quarter. Vanguard Group Inc. grew its holdings in Chesapeake Energy by 15.7% during the 1st quarter. Vanguard Group Inc. now owns 11,196,852 shares of the company’s stock valued at $974,127,000 after buying an additional 1,517,281 shares in the last quarter. Clearbridge Investments LLC grew its holdings in Chesapeake Energy by 4,616.7% during the 1st quarter. Clearbridge Investments LLC now owns 1,396,744 shares of the company’s stock valued at $121,517,000 after buying an additional 1,367,131 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its holdings in Chesapeake Energy by 1,578.4% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,243,663 shares of the company’s stock valued at $108,199,000 after buying an additional 1,169,567 shares in the last quarter. Finally, PointState Capital LP purchased a new position in Chesapeake Energy during the 1st quarter valued at approximately $93,644,000.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on CHK shares. Jefferies Financial Group started coverage on Chesapeake Energy in a report on Wednesday, October 19th. They issued a “buy” rating and a $150.00 target price for the company. Royal Bank of Canada lifted their target price on Chesapeake Energy from $120.00 to $130.00 and gave the stock an “outperform” rating in a report on Wednesday, November 2nd. StockNews.com started coverage on Chesapeake Energy in a report on Wednesday, October 12th. They issued a “hold” rating for the company. Finally, Mizuho started coverage on Chesapeake Energy in a report on Monday. They issued a “buy” rating for the company. Two equities research analysts have 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, Chesapeake Energy has a consensus rating of “Moderate Buy” and a consensus target price of $115.82.

Chesapeake Energy Stock Up 1.6 %

Shares of NASDAQ CHK opened at $89.19 on Tuesday. The company has a current ratio of 0.49, a quick ratio of 0.49 and a debt-to-equity ratio of 0.43. The firm’s fifty day moving average price is $97.88. The company has a market cap of $11.95 billion, a price-to-earnings ratio of 4.65 and a beta of 0.79. Chesapeake Energy Co. has a twelve month low of $61.45 and a twelve month high of $107.31.

Chesapeake Energy (NASDAQ:CHKGet Rating) last issued its earnings results on Tuesday, November 1st. The company reported $5.06 earnings per share for the quarter, beating analysts’ consensus estimates of $4.48 by $0.58. The business had revenue of $3.16 billion during the quarter, compared to analyst estimates of $1.83 billion. Chesapeake Energy had a return on equity of 37.97% and a net margin of 26.07%. On average, research analysts expect that Chesapeake Energy Co. will post 16.51 earnings per share for the current year.

Chesapeake Energy Increases Dividend

The business also recently declared a None dividend, which was paid on Thursday, December 1st. Stockholders of record on Tuesday, November 15th were given a $3.16 dividend. This represents a dividend yield of 2.1%. This is a positive change from Chesapeake Energy’s previous None dividend of $2.32. The ex-dividend date of this dividend was Monday, November 14th. Chesapeake Energy’s payout ratio is presently 11.46%.

Chesapeake Energy Profile

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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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Institutional Ownership by Quarter for Chesapeake Energy (NASDAQ:CHK)

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