6,964 Shares in Chesapeake Energy Co. (NASDAQ:CHK) Bought by Private Advisor Group LLC

Private Advisor Group LLC acquired a new position in shares of Chesapeake Energy Co. (NASDAQ:CHK) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 6,964 shares of the company’s stock, valued at approximately $530,000.

Other hedge funds have also added to or reduced their stakes in the company. Salem Investment Counselors Inc. acquired a new stake in Chesapeake Energy during the 1st quarter worth $32,000. Parallel Advisors LLC raised its stake in shares of Chesapeake Energy by 184.6% in the 4th quarter. Parallel Advisors LLC now owns 350 shares of the company’s stock valued at $33,000 after purchasing an additional 227 shares during the period. Covestor Ltd raised its stake in shares of Chesapeake Energy by 292.0% in the 1st quarter. Covestor Ltd now owns 439 shares of the company’s stock valued at $38,000 after purchasing an additional 327 shares during the period. Resurgent Financial Advisors LLC acquired a new stake in shares of Chesapeake Energy in the 4th quarter valued at about $41,000. Finally, CoreCap Advisors LLC acquired a new stake in shares of Chesapeake Energy in the 4th quarter valued at about $46,000. Institutional investors and hedge funds own 97.93% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on CHK shares. StockNews.com started coverage on Chesapeake Energy in a research note on Wednesday, August 23rd. They issued a “hold” rating on the stock. Benchmark decreased their price objective on Chesapeake Energy from $107.00 to $93.00 and set a “buy” rating for the company in a report on Tuesday, August 15th. Truist Financial decreased their price objective on Chesapeake Energy from $102.00 to $100.00 and set a “buy” rating for the company in a report on Tuesday, August 15th. Wells Fargo & Company raised their price objective on Chesapeake Energy from $85.00 to $89.00 and gave the company an “equal weight” rating in a report on Friday. Finally, JPMorgan Chase & Co. cut Chesapeake Energy from an “overweight” rating to a “neutral” rating and decreased their price objective for the company from $97.00 to $96.00 in a report on Wednesday, August 16th. Five research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, Chesapeake Energy currently has a consensus rating of “Moderate Buy” and an average price target of $109.00.

Chesapeake Energy Trading Up 2.3 %

Chesapeake Energy stock opened at $90.26 on Friday. Chesapeake Energy Co. has a 52 week low of $69.68 and a 52 week high of $107.31. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.34 and a current ratio of 1.34. The stock has a market capitalization of $11.95 billion, a P/E ratio of 2.13 and a beta of 0.67. The stock has a 50-day simple moving average of $84.24 and a 200 day simple moving average of $81.15.

Chesapeake Energy (NASDAQ:CHK) last issued its quarterly earnings data on Tuesday, August 1st. The company reported $0.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.54 by $0.10. Chesapeake Energy had a return on equity of 18.92% and a net margin of 49.75%. The company had revenue of $1.89 billion during the quarter, compared to analysts’ expectations of $917.52 million. During the same quarter in the previous year, the company posted $4.87 earnings per share. Analysts expect that Chesapeake Energy Co. will post 4.18 earnings per share for the current year.

Chesapeake Energy Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 6th. Stockholders of record on Thursday, August 17th will be issued a dividend of $0.575 per share. This represents a $2.30 dividend on an annualized basis and a dividend yield of 2.55%. The ex-dividend date is Wednesday, August 16th. Chesapeake Energy’s dividend payout ratio is presently 5.42%.

About Chesapeake Energy

Chesapeake Energy Corporation, an independent exploration and production company, engages in the acquisition, exploration, and development of properties to produce 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.