Xponance Inc. Reduces Holdings in Chesapeake Energy Co. (NASDAQ:CHK)

Xponance Inc. lowered its position in Chesapeake Energy Co. (NASDAQ:CHK) by 5.4% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 17,914 shares of the company’s stock after selling 1,025 shares during the period. Xponance Inc.’s holdings in Chesapeake Energy were worth $1,472,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Price T Rowe Associates Inc. MD increased its holdings in Chesapeake Energy by 233.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 9,059,644 shares of the company’s stock valued at $804,769,000 after buying an additional 6,338,963 shares in the last quarter. Massachusetts Financial Services Co. MA raised its position in shares of Chesapeake Energy by 7.6% in the second quarter. Massachusetts Financial Services Co. MA now owns 4,119,498 shares of the company’s stock worth $338,582,000 after acquiring an additional 292,586 shares during the period. Kimmeridge Energy Management Company LLC raised its position in shares of Chesapeake Energy by 28.8% in the second quarter. Kimmeridge Energy Management Company LLC now owns 3,694,879 shares of the company’s stock worth $303,682,000 after acquiring an additional 827,000 shares during the period. Dimensional Fund Advisors LP raised its position in shares of Chesapeake Energy by 18.1% in the second quarter. Dimensional Fund Advisors LP now owns 3,333,769 shares of the company’s stock worth $274,005,000 after acquiring an additional 510,664 shares during the period. Finally, Lord Abbett & CO. LLC raised its position in shares of Chesapeake Energy by 13.4% in the first quarter. Lord Abbett & CO. LLC now owns 2,599,352 shares of the company’s stock worth $230,900,000 after acquiring an additional 307,814 shares during the period. Hedge funds and other institutional investors own 97.93% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have weighed in on CHK. UBS Group decreased their price objective on shares of Chesapeake Energy from $93.00 to $85.00 and set a “neutral” rating for the company in a research report on Wednesday, September 18th. Wolfe Research initiated coverage on shares of Chesapeake Energy in a research note on Thursday, July 18th. They set an “outperform” rating and a $110.00 price objective for the company. Stephens increased their price target on shares of Chesapeake Energy from $117.00 to $118.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 30th. Truist Financial dropped their price target on shares of Chesapeake Energy from $112.00 to $108.00 and set a “buy” rating for the company in a research note on Monday, July 22nd. Finally, Scotiabank dropped their price target on shares of Chesapeake Energy from $110.00 to $105.00 and set a “sector perform” rating for the company in a research note on Tuesday, August 20th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $101.33.

Chesapeake Energy Price Performance

Chesapeake Energy stock opened at $82.60 on Friday. The firm has a market cap of $10.84 billion, a PE ratio of 11.13 and a beta of 0.46. Chesapeake Energy Co. has a 52-week low of $69.12 and a 52-week high of $93.58. The company has a quick ratio of 2.16, a current ratio of 2.16 and a debt-to-equity ratio of 0.19. The company’s 50 day moving average is $74.43 and its two-hundred day moving average is $82.64.

Chesapeake Energy (NASDAQ:CHK) last released its earnings results on Monday, July 29th. The company reported $0.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.01). Chesapeake Energy had a return on equity of 4.00% and a net margin of 8.68%. The business had revenue of $505.00 million for the quarter, compared to analyst estimates of $822.54 million. During the same quarter last year, the company earned $0.64 earnings per share. Chesapeake Energy’s quarterly revenue was down 73.3% compared to the same quarter last year. On average, research analysts expect that Chesapeake Energy Co. will post 1.43 EPS for the current fiscal year.

Chesapeake Energy Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 5th. Stockholders of record on Thursday, August 15th were issued a $0.575 dividend. The ex-dividend date was Thursday, August 15th. This represents a $2.30 dividend on an annualized basis and a dividend yield of 2.78%. Chesapeake Energy’s payout ratio is 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.