Envestnet Asset Management Inc. Purchases 22,813 Shares of Chesapeake Energy Co. (NASDAQ:CHK)

Envestnet Asset Management Inc. raised its position in shares of Chesapeake Energy Co. (NASDAQ:CHK – Get Rating) by 24.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 116,037 shares of the company’s stock after acquiring an additional 22,813 shares during the period. Envestnet Asset Management Inc. owned approximately 0.09% of Chesapeake Energy worth $10,950,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Salem Investment Counselors Inc. bought a new position in shares of Chesapeake Energy in the first quarter worth about $32,000. Parallel Advisors LLC lifted its stake in Chesapeake Energy by 184.6% in the fourth quarter. Parallel Advisors LLC now owns 350 shares of the company’s stock worth $33,000 after acquiring an additional 227 shares during the period. Covestor Ltd lifted its stake in Chesapeake Energy by 292.0% in the first quarter. Covestor Ltd now owns 439 shares of the company’s stock worth $38,000 after acquiring an additional 327 shares during the period. Ronald Blue Trust Inc. lifted its stake in Chesapeake Energy by 338.8% in the fourth quarter. Ronald Blue Trust Inc. now owns 430 shares of the company’s stock worth $40,000 after acquiring an additional 332 shares during the period. Finally, CWM LLC lifted its stake in Chesapeake Energy by 113.2% in the third quarter. CWM LLC now owns 516 shares of the company’s stock worth $49,000 after acquiring an additional 274 shares during the period.

Chesapeake Energy Trading Down 0.5 %

Shares of NASDAQ:CHK opened at $77.70 on Thursday. Chesapeake Energy Co. has a 1 year low of $69.68 and a 1 year high of $107.31. The firm has a market capitalization of $10.40 billion, a price-to-earnings ratio of 1.62, a price-to-earnings-growth ratio of 0.73 and a beta of 0.65. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.39 and a quick ratio of 1.39. The business’s 50 day moving average price is $77.65 and its 200-day moving average price is $84.18.

Chesapeake Energy (NASDAQ:CHK – Get Rating) last announced its earnings results on Tuesday, May 2nd. The company reported $1.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.55 by $0.32. Chesapeake Energy had a return on equity of 29.75% and a net margin of 50.00%. The firm had revenue of $3.37 billion for the quarter, compared to analyst estimates of $1.25 billion. During the same quarter last year, the firm posted $3.09 EPS. On average, equities research analysts forecast that Chesapeake Energy Co. will post 4.51 earnings per share for the current fiscal year.

Chesapeake Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 6th. Shareholders of record on Thursday, May 18th will be issued a $1.18 dividend. The ex-dividend date is Wednesday, May 17th. This represents a $4.72 dividend on an annualized basis and a yield of 6.07%. This is a positive change from Chesapeake Energy’s previous quarterly dividend of $0.44. Chesapeake Energy’s dividend payout ratio (DPR) is presently 4.58%.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on CHK. TheStreet raised shares of Chesapeake Energy from a “c+” rating to a “b-” rating in a research note on Tuesday. StockNews.com lowered shares of Chesapeake Energy from a “hold” rating to a “sell” rating in a research report on Tuesday, April 25th. Credit Suisse Group decreased their price target on shares of Chesapeake Energy from $135.00 to $130.00 and set an “outperform” rating for the company in a research report on Thursday, January 19th. Truist Financial assumed coverage on shares of Chesapeake Energy in a research report on Monday, April 24th. They set a “buy” rating and a $100.00 price target for the company. Finally, Citigroup initiated coverage on shares of Chesapeake Energy in a research report on Wednesday, February 8th. They set a “neutral” rating and a $90.00 price target for the company. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $110.54.

About Chesapeake Energy

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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.