Allspring Global Investments Holdings LLC Has $6.48 Million Holdings in Chesapeake Energy Co. (NASDAQ:CHK)

Allspring Global Investments Holdings LLC grew its stake in Chesapeake Energy Co. (NASDAQ:CHK) by 2,711.6% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 77,487 shares of the company’s stock after purchasing an additional 74,731 shares during the period. Allspring Global Investments Holdings LLC owned about 0.06% of Chesapeake Energy worth $6,484,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in CHK. Belpointe Asset Management LLC lifted its holdings in shares of Chesapeake Energy by 478.3% during the first quarter. Belpointe Asset Management LLC now owns 347 shares of the company’s stock worth $26,000 after purchasing an additional 287 shares during the period. Hexagon Capital Partners LLC lifted its holdings in Chesapeake Energy by 149.3% during the 2nd quarter. Hexagon Capital Partners LLC now owns 359 shares of the company’s stock worth $30,000 after buying an additional 215 shares during the period. Salem Investment Counselors Inc. acquired a new position in Chesapeake Energy during the 1st quarter worth about $32,000. Covestor Ltd boosted its holdings in Chesapeake Energy by 292.0% in the first quarter. Covestor Ltd now owns 439 shares of the company’s stock valued at $38,000 after acquiring an additional 327 shares during the last quarter. Finally, Resurgent Financial Advisors LLC bought a new stake in Chesapeake Energy in the fourth quarter valued at approximately $41,000. 97.93% of the stock is currently owned by institutional investors and hedge funds.

Chesapeake Energy Trading Up 2.1 %

NASDAQ:CHK opened at $88.70 on Friday. 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 firm has a market cap of $11.74 billion, a price-to-earnings ratio of 2.41 and a beta of 0.68. Chesapeake Energy Co. has a 52 week low of $69.68 and a 52 week high of $106.25. The firm has a 50-day moving average price of $86.70 and a two-hundred day moving average price of $83.45.

Chesapeake Energy (NASDAQ:CHK) last posted its quarterly earnings data on Tuesday, October 31st. The company reported $1.09 EPS for the quarter, beating the consensus estimate of $0.57 by $0.52. The firm had revenue of $1.51 billion during the quarter, compared to analyst estimates of $1.47 billion. Chesapeake Energy had a net margin of 49.82% and a return on equity of 11.43%. The company’s revenue for the quarter was down 52.2% on a year-over-year basis. During the same quarter last year, the business posted $5.06 EPS. On average, equities analysts expect that Chesapeake Energy Co. will post 4.45 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on CHK shares. Bank of America upped their price objective on shares of Chesapeake Energy from $144.00 to $147.00 in a research note on Wednesday, September 27th. Wells Fargo & Company increased their price target on Chesapeake Energy from $85.00 to $89.00 and gave the stock an “equal weight” rating in a report on Friday, September 1st. StockNews.com lowered shares of Chesapeake Energy from a “hold” rating to a “sell” rating in a research note on Friday. Benchmark lowered their price objective on shares of Chesapeake Energy from $107.00 to $93.00 and set a “buy” rating for the company in a research note on Wednesday, October 18th. Finally, Truist Financial lifted their price objective on shares of Chesapeake Energy from $100.00 to $110.00 and gave the company a “buy” rating in a research note on Monday, September 11th. One analyst has rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $109.64.

Chesapeake Energy Company Profile

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.