Chesapeake Energy (NASDAQ:CHK) Now Covered by Analysts at Wells Fargo & Company

Wells Fargo & Company began coverage on shares of Chesapeake Energy (NASDAQ:CHKGet Rating) in a report released on Tuesday, The Fly reports. The brokerage issued an overweight rating on the stock.

Several other brokerages have also recently issued reports on CHK. Jefferies Financial Group assumed 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. StockNews.com began coverage on Chesapeake Energy in a report on Wednesday, October 12th. They set a hold rating for the company. Royal Bank of Canada increased their price target 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 lowered their price target on Chesapeake Energy from $135.00 to $130.00 and set an outperform rating for the company in a report on Thursday, January 19th. Finally, Mizuho began coverage on Chesapeake Energy in a report on Monday, January 9th. They set a buy rating and a $155.00 price target for the company. Two analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of Moderate Buy and an average price target of $123.09.

Chesapeake Energy Stock Down 0.4 %

Shares of NASDAQ:CHK opened at $91.84 on Tuesday. The company has a quick ratio of 0.49, a current ratio of 0.49 and a debt-to-equity ratio of 0.43. The business has a fifty day moving average of $95.42 and a two-hundred day moving average of $97.75. The stock has a market cap of $12.30 billion, a P/E ratio of 4.78 and a beta of 0.79. Chesapeake Energy has a 52-week low of $63.31 and a 52-week 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 (EPS) for the quarter, beating the consensus estimate of $4.48 by $0.58. The company had revenue of $3.16 billion during the quarter, compared to analysts’ expectations 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 will post 16.13 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. Shareholders of record on Tuesday, November 15th were given a $3.16 dividend. The ex-dividend date of this dividend was Monday, November 14th. This represents a yield of 2.1%. This is a positive change from Chesapeake Energy’s previous None dividend of $2.32. Chesapeake Energy’s dividend payout ratio (DPR) is currently 11.46%.

Institutional Investors Weigh In On Chesapeake Energy

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. raised its position in shares of Chesapeake Energy by 15.7% during the 1st quarter. Vanguard Group Inc. now owns 11,196,852 shares of the company’s stock worth $974,127,000 after acquiring an additional 1,517,281 shares in the last quarter. Wellington Management Group LLP raised its position in shares of Chesapeake Energy by 0.7% during the 1st quarter. Wellington Management Group LLP now owns 4,649,011 shares of the company’s stock worth $404,465,000 after acquiring an additional 33,353 shares in the last quarter. Kimmeridge Energy Management Company LLC increased its position in Chesapeake Energy by 16.7% during the third quarter. Kimmeridge Energy Management Company LLC now owns 2,564,693 shares of the company’s stock worth $241,620,000 after buying an additional 367,733 shares during the period. Clearbridge Investments LLC increased its position in Chesapeake Energy by 48.7% during the second quarter. Clearbridge Investments LLC now owns 2,077,619 shares of the company’s stock worth $168,495,000 after buying an additional 680,875 shares during the period. Finally, State Street Corp increased its position in Chesapeake Energy by 4.5% during the first quarter. State Street Corp now owns 1,962,821 shares of the company’s stock worth $170,765,000 after buying an additional 83,813 shares during the period.

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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