CIBC Asset Management Inc Trims Holdings in Chesapeake Energy Co. (NASDAQ:CHK)

CIBC Asset Management Inc trimmed its position in Chesapeake Energy Co. (NASDAQ:CHKFree Report) by 5.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,183 shares of the company’s stock after selling 329 shares during the period. CIBC Asset Management Inc’s holdings in Chesapeake Energy were worth $476,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Deutsche Bank AG lifted its holdings in shares of Chesapeake Energy by 14.7% during the 3rd quarter. Deutsche Bank AG now owns 261,978 shares of the company’s stock worth $22,590,000 after acquiring an additional 33,660 shares during the period. Panagora Asset Management Inc. lifted its holdings in shares of Chesapeake Energy by 112.6% during the 4th quarter. Panagora Asset Management Inc. now owns 39,474 shares of the company’s stock worth $3,037,000 after acquiring an additional 20,910 shares during the period. Townsquare Capital LLC lifted its holdings in shares of Chesapeake Energy by 6.6% during the 3rd quarter. Townsquare Capital LLC now owns 13,104 shares of the company’s stock worth $1,130,000 after acquiring an additional 816 shares during the period. DekaBank Deutsche Girozentrale lifted its holdings in shares of Chesapeake Energy by 67.2% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 9,288 shares of the company’s stock worth $790,000 after acquiring an additional 3,732 shares during the period. Finally, Benjamin F. Edwards & Company Inc. lifted its holdings in shares of Chesapeake Energy by 1,207.7% during the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 680 shares of the company’s stock worth $52,000 after acquiring an additional 628 shares during the period. 97.93% of the stock is currently owned by hedge funds and other institutional investors.

Chesapeake Energy Stock Up 0.7 %

Shares of NASDAQ:CHK opened at $88.94 on Tuesday. The company has a quick ratio of 2.33, a current 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. The company has a 50 day moving average of $89.31 and a two-hundred day moving average of $83.03. The company has a market capitalization of $11.66 billion, a price-to-earnings ratio of 11.99 and a beta of 0.50.

Chesapeake Energy (NASDAQ:CHKGet Free Report) last released its quarterly 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). 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 for the quarter, compared to analyst estimates of $674.99 million. During the same period in the previous year, the business posted $1.87 EPS. As a group, analysts forecast that Chesapeake Energy Co. will post 0.98 earnings per share for the current fiscal year.

Chesapeake Energy Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 5th. Stockholders of record on Thursday, May 16th were given a dividend of $0.715 per share. The ex-dividend date of this dividend was Wednesday, May 15th. This represents a $2.86 dividend on an annualized basis and a dividend yield of 3.22%. This is an increase from Chesapeake Energy’s previous quarterly dividend of $0.58. Chesapeake Energy’s dividend payout ratio (DPR) is presently 31.00%.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Scotiabank increased 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. Jefferies Financial Group dropped their target price on shares of Chesapeake Energy from $118.00 to $115.00 and set a “buy” rating for the company in a research report on Wednesday, April 10th. KeyCorp initiated coverage on shares of Chesapeake Energy in a research report on Thursday, April 4th. They set a “sector weight” rating for the company. Mizuho increased their target price on shares of Chesapeake Energy from $101.00 to $111.00 and gave the stock a “buy” rating in a research report on Monday, May 13th. Finally, Stephens increased their target price on shares of Chesapeake Energy from $116.00 to $117.00 and gave the stock an “equal weight” rating in a research report on Wednesday, May 1st. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $106.67.

Read Our Latest Analysis on Chesapeake Energy

Chesapeake Energy Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Chesapeake Energy (NASDAQ:CHK)

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