Park Avenue Securities LLC Buys New Shares in Chesapeake Energy Co. (NASDAQ:CHK)

Park Avenue Securities LLC bought a new stake in Chesapeake Energy Co. (NASDAQ:CHKGet Rating) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 4,298 shares of the company’s stock, valued at approximately $405,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Seaport Global Advisors LLC increased its position in Chesapeake Energy by 13.4% during the second quarter. Seaport Global Advisors LLC now owns 1,178 shares of the company’s stock worth $96,000 after buying an additional 139 shares during the last quarter. SeaCrest Wealth Management LLC increased its position in Chesapeake Energy by 1.7% during the second quarter. SeaCrest Wealth Management LLC now owns 10,688 shares of the company’s stock worth $867,000 after buying an additional 182 shares during the last quarter. Alpha Paradigm Partners LLC increased its position in Chesapeake Energy by 4.0% during the second quarter. Alpha Paradigm Partners LLC now owns 4,807 shares of the company’s stock worth $390,000 after buying an additional 186 shares during the last quarter. SVB Wealth LLC increased its position in Chesapeake Energy by 9.1% during the second quarter. SVB Wealth LLC now owns 3,137 shares of the company’s stock worth $254,000 after buying an additional 261 shares during the last quarter. Finally, CWM LLC increased its position in Chesapeake Energy by 113.2% during the third quarter. CWM LLC now owns 516 shares of the company’s stock worth $49,000 after buying an additional 274 shares during the last quarter.

Chesapeake Energy Trading Down 0.0 %

Shares of CHK stock opened at $90.88 on Friday. 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 stock has a market cap of $12.17 billion, a P/E ratio of 4.73 and a beta of 0.79. The stock has a 50 day simple moving average of $95.77 and a 200 day simple moving average of $97.75. Chesapeake Energy Co. has a 1 year low of $61.45 and a 1 year high of $107.31.

Chesapeake Energy (NASDAQ:CHKGet Rating) last released its earnings results on Tuesday, November 1st. The company reported $5.06 earnings per share for the quarter, topping the consensus estimate of $4.48 by $0.58. Chesapeake Energy had a return on equity of 37.97% and a net margin of 26.07%. The firm had revenue of $3.16 billion during the quarter, compared to analysts’ expectations of $1.83 billion. On average, research analysts predict that Chesapeake Energy Co. will post 16.41 earnings per share for the current fiscal year.

Chesapeake Energy Increases Dividend

The firm also recently announced a None dividend, which was paid on Thursday, December 1st. Shareholders of record on Tuesday, November 15th were paid a dividend of $3.16 per share. The ex-dividend date was Monday, November 14th. This is a boost from Chesapeake Energy’s previous None dividend of $2.32. This represents a yield of 2.1%. Chesapeake Energy’s dividend payout ratio is presently 11.46%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. StockNews.com assumed coverage on Chesapeake Energy in a research report on Wednesday, October 12th. They set a “hold” rating on the stock. Mizuho initiated coverage on Chesapeake Energy in a report on Monday, January 9th. They set a “buy” rating and a $155.00 price objective for the company. Royal Bank of Canada boosted their price objective on Chesapeake Energy from $120.00 to $130.00 and gave the stock an “outperform” rating in a report on Wednesday, November 2nd. Credit Suisse Group reduced their price objective on Chesapeake Energy from $135.00 to $130.00 and set an “outperform” rating for the company in a report on Thursday. Finally, Jefferies Financial Group initiated coverage on Chesapeake Energy in a report on Wednesday, October 19th. They set a “buy” rating and a $150.00 price objective for the company. Two equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $123.09.

Chesapeake Energy Company Profile

(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.

Further Reading

Want to see what other hedge funds are holding CHK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Chesapeake Energy Co. (NASDAQ:CHKGet Rating).

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

Receive News & Ratings for Chesapeake Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Chesapeake Energy and related companies with MarketBeat.com's FREE daily email newsletter.