Chesapeake Energy Co. Expected to Post Q2 2024 Earnings of $0.13 Per Share (NASDAQ:CHK)

Chesapeake Energy Co. (NASDAQ:CHK) – Analysts at Capital One Financial lowered their Q2 2024 earnings estimates for shares of Chesapeake Energy in a report released on Wednesday, May 1st. Capital One Financial analyst P. Johnston now forecasts that the company will post earnings per share of $0.13 for the quarter, down from their prior forecast of $0.30. The consensus estimate for Chesapeake Energy’s current full-year earnings is $1.19 per share. Capital One Financial also issued estimates for Chesapeake Energy’s Q3 2024 earnings at $0.07 EPS, Q4 2024 earnings at $0.26 EPS, FY2024 earnings at $1.02 EPS and FY2025 earnings at $3.95 EPS.

Chesapeake Energy (NASDAQ:CHK) last issued its earnings results on Tuesday, April 30th. The company reported $0.56 earnings per share for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.08). The firm 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 business posted $1.87 EPS.

CHK has been the subject of a number of other research reports. Citigroup upgraded Chesapeake Energy from a “neutral” rating to a “buy” rating and upped their price target for the stock from $82.00 to $95.00 in a report on Friday, January 12th. UBS Group boosted their price target on Chesapeake Energy from $92.00 to $94.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 10th. Scotiabank raised their price objective on shares of Chesapeake Energy from $92.00 to $110.00 and gave the stock a “sector perform” rating in a report on Thursday, April 11th. KeyCorp began coverage on shares of Chesapeake Energy in a research report on Thursday, April 4th. They set a “sector weight” rating on the stock. Finally, Truist Financial dropped 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 equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, Chesapeake Energy presently has a consensus rating of “Hold” and an average price target of $105.83.

Chesapeake Energy Price Performance

Chesapeake Energy stock opened at $86.67 on Monday. The firm has a fifty day moving average of $86.65 and a 200-day moving average of $82.05. Chesapeake Energy has a 52-week low of $72.84 and a 52-week high of $93.58. The company has a quick ratio of 1.99, a current ratio of 2.33 and a debt-to-equity ratio of 0.19. The firm has a market capitalization of $11.36 billion, a P/E ratio of 11.68 and a beta of 0.51.

Chesapeake Energy Increases Dividend

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

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Principal Securities Inc. acquired a new stake in Chesapeake Energy in the 4th quarter valued at about $28,000. Lindbrook Capital LLC raised its holdings in shares of Chesapeake Energy by 90.8% in the 1st quarter. Lindbrook Capital LLC now owns 374 shares of the company’s stock worth $33,000 after purchasing an additional 178 shares in the last quarter. Gladius Capital Management LP acquired a new stake in shares of Chesapeake Energy during the 3rd quarter valued at $36,000. Allspring Global Investments Holdings LLC bought a new stake in shares of Chesapeake Energy during the 1st quarter worth $37,000. Finally, GAMMA Investing LLC acquired a new position in shares of Chesapeake Energy in the 4th quarter worth $40,000. Institutional investors own 97.93% of the company’s stock.

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.