Chesapeake Energy (NASDAQ:CHK) Posts Earnings Results, Misses Expectations By $0.01 EPS

Chesapeake Energy (NASDAQ:CHK) released its quarterly earnings results on Monday. The company reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.02 by ($0.01), Briefing.com reports. The firm had revenue of $505.00 million for the quarter, compared to the consensus estimate of $822.54 million. Chesapeake Energy had a return on equity of 3.99% and a net margin of 8.68%. The business’s revenue for the quarter was down 73.3% on a year-over-year basis. During the same quarter last year, the firm posted $0.64 earnings per share.

Chesapeake Energy Stock Up 0.6 %

Shares of NASDAQ:CHK traded up $0.47 during trading on Wednesday, reaching $76.71. 710,986 shares of the stock were exchanged, compared to its average volume of 1,892,668. The stock has a fifty day moving average of $84.45 and a two-hundred day moving average of $84.26. Chesapeake Energy has a 1-year low of $72.84 and a 1-year high of $93.58. 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 $10.05 billion, a price-to-earnings ratio of 10.27 and a beta of 0.47.

Chesapeake Energy Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 5th. Shareholders of record on Thursday, August 15th will be paid a $0.575 dividend. The ex-dividend date of this dividend is Thursday, August 15th. This represents a $2.30 dividend on an annualized basis and a yield of 3.00%. Chesapeake Energy’s dividend payout ratio (DPR) is presently 31.00%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Jefferies Financial Group cut their price target 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 increased their target price on shares of Chesapeake Energy from $92.00 to $110.00 and gave the company a “sector perform” rating in a research report on Thursday, April 11th. Benchmark dropped their price target on shares of Chesapeake Energy from $107.00 to $93.00 and set a “buy” rating on the stock in a research report on Thursday, May 2nd. Truist Financial reduced their price objective on shares of Chesapeake Energy from $112.00 to $108.00 and set a “buy” rating on the stock in a research note on Monday, July 22nd. Finally, KeyCorp assumed coverage on shares of Chesapeake Energy in a research note on Thursday, June 27th. They set a “sector weight” rating for the company. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $106.69.

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.