Chesapeake Energy Co. to Post Q2 2024 Earnings of $0.30 Per Share, Seaport Res Ptn Forecasts (NASDAQ:CHK)

Chesapeake Energy Co. (NASDAQ:CHK) – Seaport Res Ptn decreased their Q2 2024 earnings per share estimates for Chesapeake Energy in a report released on Wednesday, May 1st. Seaport Res Ptn analyst N. Pope now expects that the company will post earnings of $0.30 per share for the quarter, down from their previous estimate of $0.53. The consensus estimate for Chesapeake Energy’s current full-year earnings is $1.76 per share. Seaport Res Ptn also issued estimates for Chesapeake Energy’s Q3 2024 earnings at $0.41 EPS, Q4 2024 earnings at $0.59 EPS, FY2024 earnings at $1.82 EPS, Q1 2025 earnings at $0.80 EPS, Q2 2025 earnings at $0.39 EPS, Q3 2025 earnings at $0.89 EPS, Q4 2025 earnings at $1.48 EPS and FY2025 earnings at $3.57 EPS.

Several other research analysts have also commented on the company. Benchmark lowered their price target on Chesapeake Energy from $107.00 to $93.00 and set a “buy” rating for the company in a research report on Thursday. Jefferies Financial Group dropped their target price on Chesapeake Energy from $118.00 to $115.00 and set a “buy” rating for the company in a research report on Wednesday, April 10th. UBS Group increased their price target on shares of Chesapeake Energy from $92.00 to $94.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 10th. KeyCorp began coverage on Chesapeake Energy in a research note on Thursday, April 4th. They set a “sector weight” rating for the company. Finally, Scotiabank boosted their target price on shares of Chesapeake Energy from $92.00 to $110.00 and gave the stock a “sector perform” rating in a research note on Thursday, April 11th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $105.83.

Chesapeake Energy Stock Performance

Shares of Chesapeake Energy stock opened at $86.67 on Friday. The business’s fifty day simple moving average is $86.56 and its 200-day simple moving average is $82.17. The company has a quick ratio of 1.99, a current ratio of 2.33 and a debt-to-equity ratio of 0.19. Chesapeake Energy has a 52 week low of $72.84 and a 52 week high of $93.58. The firm has a market cap of $11.36 billion, a PE ratio of 11.48 and a beta of 0.51.

Chesapeake Energy (NASDAQ:CHK) last announced its quarterly earnings results on Tuesday, April 30th. The company reported $0.56 earnings per share for the quarter, missing the consensus estimate of $0.64 by ($0.08). The firm had revenue of $1.08 billion for the quarter, compared to analyst estimates of $674.99 million. Chesapeake Energy had a net margin of 16.42% and a return on equity of 4.87%. During the same period in the previous year, the firm posted $1.87 EPS.

Chesapeake Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 5th. Stockholders of record on Thursday, May 16th will be paid a $0.715 dividend. This represents a $2.86 annualized dividend and a dividend yield of 3.30%. The ex-dividend date is Wednesday, May 15th. This is a boost from Chesapeake Energy’s previous quarterly dividend of $0.58. Chesapeake Energy’s dividend payout ratio (DPR) is 31.00%.

Institutional Investors Weigh In On Chesapeake Energy

Institutional investors have recently made changes to their positions in the stock. Deutsche Bank AG raised its holdings in Chesapeake Energy by 14.7% during the third quarter. Deutsche Bank AG now owns 261,978 shares of the company’s stock worth $22,590,000 after purchasing an additional 33,660 shares during the last quarter. Townsquare Capital LLC increased its holdings in Chesapeake Energy by 6.6% during the 3rd quarter. Townsquare Capital LLC now owns 13,104 shares of the company’s stock valued at $1,130,000 after acquiring an additional 816 shares in the last quarter. Yousif Capital Management LLC acquired a new position in Chesapeake Energy during the third quarter worth about $4,510,000. Cottage Street Advisors LLC purchased a new stake in shares of Chesapeake Energy in the third quarter valued at about $1,693,000. Finally, Kimmeridge Energy Management Company LLC grew its position in shares of Chesapeake Energy by 16.2% in the third quarter. Kimmeridge Energy Management Company LLC now owns 3,153,879 shares of the company’s stock valued at $271,959,000 after purchasing an additional 439,186 shares during the last quarter. 97.93% of the stock is currently owned by hedge funds and other institutional investors.

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.