GAMMA Investing LLC Purchases New Position in Chesapeake Energy Co. (NASDAQ:CHK)

GAMMA Investing LLC acquired a new position in Chesapeake Energy Co. (NASDAQ:CHK) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 520 shares of the company’s stock, valued at approximately $40,000.

A number of other large investors also recently bought and sold shares of the business. Wedge Capital Management L L P NC raised its stake in Chesapeake Energy by 19.4% in the fourth quarter. Wedge Capital Management L L P NC now owns 243,119 shares of the company’s stock worth $18,706,000 after buying an additional 39,574 shares in the last quarter. Signaturefd LLC raised its stake in Chesapeake Energy by 16.5% in the fourth quarter. Signaturefd LLC now owns 1,250 shares of the company’s stock worth $96,000 after buying an additional 177 shares in the last quarter. Wetzel Investment Advisors Inc. bought a new position in Chesapeake Energy in the fourth quarter worth approximately $86,000. Daiwa Securities Group Inc. raised its stake in Chesapeake Energy by 12.1% in the fourth quarter. Daiwa Securities Group Inc. now owns 7,513 shares of the company’s stock worth $578,000 after buying an additional 813 shares in the last quarter. Finally, Mackenzie Financial Corp raised its stake in Chesapeake Energy by 13.6% in the fourth quarter. Mackenzie Financial Corp now owns 102,147 shares of the company’s stock worth $7,859,000 after buying an additional 12,243 shares in the last quarter. Institutional investors own 97.93% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently commented on CHK shares. Benchmark reduced 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 Thursday. Barclays initiated coverage on Chesapeake Energy in a research report on Wednesday, April 10th. They set an “equal weight” rating and a $102.00 price target on the stock. KeyCorp initiated coverage on Chesapeake Energy in a research report on Thursday, April 4th. They set a “sector weight” rating on the stock. Scotiabank upped their price target on Chesapeake Energy from $92.00 to $110.00 and gave the stock a “sector perform” rating in a research report on Thursday, April 11th. Finally, Truist Financial reduced their price target on Chesapeake Energy from $119.00 to $112.00 and set a “buy” rating on the stock in a research report on Friday, April 5th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $105.83.

Chesapeake Energy Stock Down 0.1 %

CHK stock opened at $86.67 on Friday. The company has a market cap of $11.36 billion, a price-to-earnings ratio of 11.68 and a beta of 0.51. The company has a current ratio of 2.33, a quick ratio of 1.99 and a debt-to-equity ratio of 0.19. Chesapeake Energy Co. has a 12 month low of $72.84 and a 12 month high of $93.58. The firm has a 50-day moving average of $86.56 and a two-hundred day moving average of $82.17.

Chesapeake Energy (NASDAQ:CHK) last released its quarterly earnings data on Tuesday, April 30th. The company reported $0.56 EPS for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.08). The business had revenue of $1.08 billion during 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 quarter in the previous year, the company posted $1.87 EPS. As a group, analysts forecast that Chesapeake Energy Co. will post 1.76 earnings per share for the current fiscal year.

Chesapeake Energy Increases Dividend

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

About Chesapeake Energy

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.