Chesapeake Energy Co. (NASDAQ:CHK) Shares Sold by Swiss National Bank

Swiss National Bank lessened its position in shares of Chesapeake Energy Co. (NASDAQ:CHK) by 3.8% during the 4th quarter, Holdings Channel reports. The institutional investor owned 351,800 shares of the company’s stock after selling 13,900 shares during the quarter. Swiss National Bank’s holdings in Chesapeake Energy were worth $27,067,000 at the end of the most recent quarter.

Several 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 during the 3rd quarter valued at about $36,000. GAMMA Investing LLC acquired a new stake in shares of Chesapeake Energy in the fourth quarter valued at $40,000. Adirondack Trust Co. purchased a new stake in shares of Chesapeake Energy during the third quarter worth approximately $43,000. Allworth Financial LP increased its position in shares of Chesapeake Energy by 160.7% in the 4th quarter. Allworth Financial LP now owns 730 shares of the company’s stock valued at $56,000 after purchasing an additional 450 shares during the last quarter. Finally, Wetzel Investment Advisors Inc. purchased a new stake in shares of Chesapeake Energy during the 4th quarter worth $86,000. Hedge funds and other institutional investors own 97.93% of the company’s stock.

Analyst Ratings Changes

CHK has been the topic of a number of recent research reports. Jefferies Financial Group cut their target price on shares of Chesapeake Energy from $118.00 to $115.00 and set a “buy” rating on the stock in a report on Wednesday, April 10th. Scotiabank boosted their price target on Chesapeake Energy from $92.00 to $110.00 and gave the stock a “sector perform” rating in a research note on Thursday, April 11th. Stephens increased their target price on Chesapeake Energy from $116.00 to $117.00 and gave the company an “equal weight” rating in a report on Wednesday, May 1st. Mizuho boosted their price target on Chesapeake Energy from $100.00 to $101.00 and gave the stock a “buy” rating in a report on Wednesday, May 1st. Finally, UBS Group increased their price objective on Chesapeake Energy from $92.00 to $94.00 and gave the company a “neutral” rating in a research note on Wednesday, April 10th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $105.83.

Chesapeake Energy Stock Performance

Chesapeake Energy stock opened at $88.37 on Thursday. The stock has a market cap of $11.58 billion, a P/E ratio of 11.94 and a beta of 0.51. The stock has a 50 day moving average of $86.93 and a 200-day moving average of $82.05. The company has a current ratio of 2.33, a quick ratio of 2.33 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 $93.58.

Chesapeake Energy (NASDAQ:CHK) last released 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). Chesapeake Energy had a return on equity of 4.87% and a net margin of 16.42%. The company had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $674.99 million. During the same period in the previous year, the firm posted $1.87 EPS. On average, analysts expect that Chesapeake Energy Co. will post 1.19 EPS for the current fiscal year.

Chesapeake Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 5th. Shareholders of record on Thursday, May 16th will be issued a dividend of $0.715 per share. This represents a $2.86 dividend on an annualized basis and a dividend yield of 3.24%. This is a boost from Chesapeake Energy’s previous quarterly dividend of $0.58. The ex-dividend date is Wednesday, May 15th. Chesapeake Energy’s dividend payout ratio is 31.00%.

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.