Capital One Financial Weighs in on Chesapeake Energy Co.’s Q3 2024 Earnings (NASDAQ:CHK)

Chesapeake Energy Co. (NASDAQ:CHK) – Investment analysts at Capital One Financial boosted their Q3 2024 earnings per share estimates for Chesapeake Energy in a research report issued to clients and investors on Wednesday, July 31st. Capital One Financial analyst P. Johnston now forecasts that the company will post earnings per share of $0.18 for the quarter, up from their prior forecast of $0.14. The consensus estimate for Chesapeake Energy’s current full-year earnings is $1.34 per share. Capital One Financial also issued estimates for Chesapeake Energy’s Q4 2024 earnings at $0.43 EPS, FY2025 earnings at $3.82 EPS and FY2026 earnings at $6.34 EPS.

Chesapeake Energy (NASDAQ:CHK) last issued its quarterly earnings data on Monday, July 29th. The company reported $0.01 earnings per share for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.01). Chesapeake Energy had a net margin of 8.68% and a return on equity of 4.00%. The firm had revenue of $505.00 million during the quarter, compared to analysts’ expectations of $822.54 million. During the same quarter in the prior year, the firm posted $0.64 EPS. Chesapeake Energy’s quarterly revenue was down 73.3% compared to the same quarter last year.

A number of other research firms also recently weighed in on CHK. Scotiabank lifted their price target on Chesapeake Energy from $92.00 to $110.00 and gave the company a “sector perform” rating in a research note on Thursday, April 11th. Mizuho raised their price objective on shares of Chesapeake Energy from $101.00 to $111.00 and gave the stock a “buy” rating in a research note on Monday, May 13th. Truist Financial reduced their target price on Chesapeake Energy from $112.00 to $108.00 and set a “buy” rating on the stock in a research note on Monday, July 22nd. Barclays initiated coverage on Chesapeake Energy in a report on Wednesday, April 10th. They issued an “equal weight” rating and a $102.00 price target for the company. Finally, KeyCorp began coverage on Chesapeake Energy in a research note on Thursday, June 27th. They set a “sector weight” rating on the stock. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $106.69.

Chesapeake Energy Price Performance

Chesapeake Energy stock opened at $72.43 on Friday. The business has a 50 day simple moving average of $83.56 and a 200-day simple moving average of $84.11. Chesapeake Energy has a 12 month low of $71.47 and a 12 month high of $93.58. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.16 and a quick ratio of 2.33. The stock has a market capitalization of $9.51 billion, a PE ratio of 9.76 and a beta of 0.47.

Chesapeake Energy Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 5th. Stockholders of record on Thursday, August 15th will be given a dividend of $0.575 per share. The ex-dividend date of this dividend is Thursday, August 15th. This represents a $2.30 dividend on an annualized basis and a dividend yield of 3.18%. Chesapeake Energy’s payout ratio is currently 31.00%.

Institutional Investors Weigh In On Chesapeake Energy

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Principal Securities Inc. acquired a new stake in shares of Chesapeake Energy during the fourth quarter worth approximately $28,000. Lindbrook Capital LLC grew its holdings in Chesapeake Energy by 90.8% during the 1st quarter. Lindbrook Capital LLC now owns 374 shares of the company’s stock worth $33,000 after acquiring an additional 178 shares in the last quarter. Allspring Global Investments Holdings LLC bought a new stake in shares of Chesapeake Energy in the 1st quarter worth about $37,000. GAMMA Investing LLC acquired a new stake in shares of Chesapeake Energy in the 4th quarter valued at about $40,000. Finally, BOKF NA bought a new position in shares of Chesapeake Energy during the first quarter worth about $45,000. Hedge funds and other institutional investors own 97.93% of the company’s stock.

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.