Duality Advisers LP Takes Position in Chesapeake Energy Co. (NASDAQ:CHK)

Duality Advisers LP purchased a new stake in shares of Chesapeake Energy Co. (NASDAQ:CHK) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 58,686 shares of the company’s stock, valued at approximately $5,213,000.

Several other hedge funds have also added to or reduced their stakes in CHK. Principal Securities Inc. bought a new stake in Chesapeake Energy during the 4th quarter worth about $28,000. Lindbrook Capital LLC lifted its holdings in Chesapeake Energy by 90.8% in the first quarter. Lindbrook Capital LLC now owns 374 shares of the company’s stock valued at $33,000 after buying an additional 178 shares during the period. Gladius Capital Management LP bought a new position in Chesapeake Energy in the third quarter valued at approximately $36,000. Allspring Global Investments Holdings LLC acquired a new stake in Chesapeake Energy during the 1st quarter worth $37,000. Finally, GAMMA Investing LLC bought a new stake in shares of Chesapeake Energy during the 4th quarter valued at $40,000. Institutional investors own 97.93% of the company’s stock.

Chesapeake Energy Stock Up 0.2 %

Shares of CHK traded up $0.17 during midday trading on Friday, hitting $83.65. The stock had a trading volume of 1,025,562 shares, compared to its average volume of 1,867,683. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.33 and a quick ratio of 2.33. The firm has a market cap of $10.96 billion, a price-to-earnings ratio of 11.25 and a beta of 0.47. The company has a 50 day simple moving average of $86.90 and a two-hundred day simple moving average of $84.00. Chesapeake Energy Co. has a twelve month low of $72.84 and a twelve month high of $93.58.

Chesapeake Energy (NASDAQ:CHK) last announced its earnings results on Tuesday, April 30th. The company reported $0.56 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.08). Chesapeake Energy had a net margin of 16.42% and a return on equity of 4.87%. The firm had revenue of $1.08 billion during the quarter, compared to analyst estimates of $674.99 million. During the same period in the prior year, the business posted $1.87 EPS. On average, analysts anticipate that Chesapeake Energy Co. will post 0.98 EPS for the current year.

Chesapeake Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 5th. Stockholders of record on Thursday, May 16th were paid a dividend of $0.715 per share. This represents a $2.86 dividend on an annualized basis and a dividend yield of 3.42%. This is an increase from Chesapeake Energy’s previous quarterly dividend of $0.58. The ex-dividend date was Wednesday, May 15th. Chesapeake Energy’s dividend payout ratio is currently 31.00%.

Wall Street Analysts Forecast Growth

CHK has been the topic of several recent research reports. Jefferies Financial Group reduced their price target on Chesapeake Energy from $118.00 to $115.00 and set a “buy” rating on the stock in a research report on Wednesday, April 10th. KeyCorp started coverage on Chesapeake Energy in a research report on Thursday, June 27th. They set a “sector weight” rating for the company. Barclays initiated coverage on shares of Chesapeake Energy in a research report on Wednesday, April 10th. They issued an “equal weight” rating and a $102.00 price target on the stock. UBS Group boosted their price objective on shares of Chesapeake Energy from $92.00 to $94.00 and gave the company a “neutral” rating in a report on Wednesday, April 10th. Finally, Truist Financial reduced their price target on shares of 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 investment analyst has rated the stock with a sell rating, seven have issued a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $106.67.

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.