Chesapeake Energy Co. (NASDAQ:CHK) Shares Sold by Truist Financial Corp

Truist Financial Corp lowered its holdings in Chesapeake Energy Co. (NASDAQ:CHK) by 49.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 38,661 shares of the company’s stock after selling 37,370 shares during the quarter. Truist Financial Corp’s holdings in Chesapeake Energy were worth $2,975,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the business. DekaBank Deutsche Girozentrale boosted its position in Chesapeake Energy by 1.6% in the 4th quarter. DekaBank Deutsche Girozentrale now owns 9,439 shares of the company’s stock worth $716,000 after purchasing an additional 151 shares in the last quarter. Stratos Wealth Partners LTD. boosted its holdings in Chesapeake Energy by 4.3% during the fourth quarter. Stratos Wealth Partners LTD. now owns 3,761 shares of the company’s stock worth $289,000 after buying an additional 154 shares in the last quarter. Forum Financial Management LP grew its position in Chesapeake Energy by 6.2% during the third quarter. Forum Financial Management LP now owns 2,812 shares of the company’s stock valued at $242,000 after buying an additional 163 shares during the period. Signaturefd LLC increased its holdings in Chesapeake Energy by 16.5% in the fourth quarter. Signaturefd LLC now owns 1,250 shares of the company’s stock valued at $96,000 after buying an additional 177 shares in the last quarter. Finally, Hohimer Wealth Management LLC raised its position in shares of Chesapeake Energy by 1.5% in the third quarter. Hohimer Wealth Management LLC now owns 13,528 shares of the company’s stock worth $1,167,000 after acquiring an additional 200 shares during the period. Hedge funds and other institutional investors own 97.93% of the company’s stock.

Chesapeake Energy Stock Performance

CHK opened at $88.62 on Wednesday. Chesapeake Energy Co. has a twelve month low of $72.84 and a twelve month high of $93.58. The firm has a market capitalization of $11.61 billion, a PE ratio of 11.94 and a beta of 0.51. The company has a current ratio of 2.33, a quick ratio of 2.33 and a debt-to-equity ratio of 0.19. The firm’s 50-day moving average price is $86.79 and its 200 day moving average price is $82.05.

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 the consensus estimate of $0.64 by ($0.08). The company had revenue of $1.08 billion for the quarter, compared to analyst estimates of $674.99 million. Chesapeake Energy had a return on equity of 4.87% and a net margin of 16.42%. During the same quarter in the prior year, the firm earned $1.87 earnings per share. As a group, sell-side analysts expect that Chesapeake Energy Co. will post 1.19 EPS for the current fiscal year.

Chesapeake Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 5th. Investors of record on Thursday, May 16th will be given a $0.715 dividend. This represents a $2.86 annualized dividend and a yield of 3.23%. This is a positive change from Chesapeake Energy’s previous quarterly dividend of $0.58. The ex-dividend date of this dividend is Wednesday, May 15th. Chesapeake Energy’s dividend payout ratio is presently 31.00%.

Analysts Set New Price Targets

Several brokerages recently weighed in on CHK. Benchmark cut their price target on Chesapeake Energy from $107.00 to $93.00 and set a “buy” rating for the company in a research note on Thursday, May 2nd. Mizuho upped their target price on Chesapeake Energy from $100.00 to $101.00 and gave the stock a “buy” rating in a research note on Wednesday, May 1st. UBS Group lifted their price target on shares of Chesapeake Energy from $92.00 to $94.00 and gave the company a “neutral” rating in a research note on Wednesday, April 10th. Citigroup upgraded shares of Chesapeake Energy from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $82.00 to $95.00 in a research report on Friday, January 12th. Finally, Stephens lifted their target price on shares of Chesapeake Energy from $116.00 to $117.00 and gave the company an “equal weight” rating in a research report on Wednesday, May 1st. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $105.83.

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.