Chesapeake Energy Co. (NASDAQ:CHK) Shares Sold by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank cut its position in Chesapeake Energy Co. (NASDAQ:CHK) by 49.2% during the fourth quarter, HoldingsChannel.com reports. The fund owned 22,051 shares of the company’s stock after selling 21,379 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Chesapeake Energy were worth $1,697,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Gladius Capital Management LP purchased a new position in Chesapeake Energy in the 3rd quarter worth approximately $36,000. Adirondack Trust Co. acquired a new position in Chesapeake Energy during the third quarter worth $43,000. Allworth Financial LP increased its stake in shares of Chesapeake Energy by 160.7% in the 4th quarter. Allworth Financial LP now owns 730 shares of the company’s stock worth $56,000 after acquiring an additional 450 shares during the last quarter. SG Americas Securities LLC raised its holdings in shares of Chesapeake Energy by 11.1% during the 3rd quarter. SG Americas Securities LLC now owns 2,399 shares of the company’s stock worth $207,000 after acquiring an additional 239 shares during the period. Finally, Valeo Financial Advisors LLC boosted its position in shares of Chesapeake Energy by 7.6% during the 3rd quarter. Valeo Financial Advisors LLC now owns 2,803 shares of the company’s stock valued at $242,000 after acquiring an additional 199 shares during the last quarter. 97.93% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have commented on CHK. UBS Group lifted their target price on shares of Chesapeake Energy from $92.00 to $94.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 10th. Barclays assumed coverage on Chesapeake Energy in a report on Wednesday, April 10th. They issued an “equal weight” rating and a $102.00 price objective on the stock. Benchmark cut their target price on Chesapeake Energy from $107.00 to $93.00 and set a “buy” rating for the company in a research note on Tuesday, April 9th. Truist Financial reduced their price objective on shares of Chesapeake Energy from $119.00 to $112.00 and set a “buy” rating on the stock in a report on Friday, April 5th. Finally, Citigroup raised shares of Chesapeake Energy from a “neutral” rating to a “buy” rating and upped their target price for the company from $82.00 to $95.00 in a research report on Friday, January 12th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $104.73.

Chesapeake Energy Stock Performance

Shares of CHK opened at $90.69 on Thursday. The company has a market capitalization of $11.86 billion, a price-to-earnings ratio of 5.39 and a beta of 0.52. The company has a quick ratio of 1.99, a current ratio of 1.99 and a debt-to-equity ratio of 0.19. Chesapeake Energy Co. has a 52-week low of $72.84 and a 52-week high of $91.03. The stock has a 50 day moving average price of $85.37 and a 200 day moving average price of $82.07.

Chesapeake Energy (NASDAQ:CHK) last released its quarterly earnings results on Tuesday, February 20th. The company reported $1.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.42 by $0.89. Chesapeake Energy had a return on equity of 6.74% and a net margin of 27.74%. The firm had revenue of $1.95 billion for the quarter, compared to the consensus estimate of $962.95 million. During the same quarter last year, the business posted $4.22 EPS. Research analysts predict that Chesapeake Energy Co. will post 2.03 EPS for the current fiscal year.

Chesapeake Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 26th. Stockholders of record on Thursday, March 7th were issued a $0.575 dividend. The ex-dividend date of this dividend was Wednesday, March 6th. This represents a $2.30 dividend on an annualized basis and a dividend yield of 2.54%. Chesapeake Energy’s payout ratio is 13.66%.

Chesapeake Energy Company Profile

Chesapeake Energy Corporation operates as an independent exploration and production company in the United States. It engages in acquisition, exploration, and development of properties to produce oil, natural gas, and natural gas liquids from underground reservoirs. 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.