M&G Plc Sells 133,669 Shares of Chesapeake Energy Co. (NASDAQ:CHK)

M&G Plc cut its stake in shares of Chesapeake Energy Co. (NASDAQ:CHK) by 96.2% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,301 shares of the company’s stock after selling 133,669 shares during the quarter. M&G Plc’s holdings in Chesapeake Energy were worth $435,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of the stock. Principal Securities Inc. bought a new position in shares of Chesapeake Energy during the fourth quarter valued at about $28,000. Lindbrook Capital LLC lifted its holdings in Chesapeake Energy by 90.8% in the 1st quarter. Lindbrook Capital LLC now owns 374 shares of the company’s stock worth $33,000 after buying an additional 178 shares during the period. Allspring Global Investments Holdings LLC purchased a new stake in Chesapeake Energy in the 1st quarter worth approximately $37,000. GAMMA Investing LLC bought a new stake in shares of Chesapeake Energy in the 4th quarter worth approximately $40,000. Finally, BOKF NA bought a new position in shares of Chesapeake Energy during the first quarter valued at approximately $45,000. 97.93% of the stock is owned by hedge funds and other institutional investors.

Chesapeake Energy Stock Performance

Shares of CHK stock opened at $72.25 on Wednesday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 2.33 and a current ratio of 2.16. The company has a market capitalization of $9.47 billion, a price-to-earnings ratio of 9.74 and a beta of 0.47. Chesapeake Energy Co. has a one year low of $69.42 and a one year high of $93.58. The company’s 50-day moving average is $81.04 and its 200 day moving average is $83.95.

Chesapeake Energy (NASDAQ:CHK) last posted its quarterly earnings results on Monday, July 29th. The company reported $0.01 EPS for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.01). The firm had revenue of $505.00 million for the quarter, compared to analysts’ expectations of $822.54 million. Chesapeake Energy had a net margin of 8.68% and a return on equity of 4.00%. The company’s quarterly revenue was down 73.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.64 EPS. Sell-side analysts expect that Chesapeake Energy Co. will post 1.34 EPS for the current fiscal year.

Chesapeake Energy Cuts Dividend

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

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on CHK shares. Stephens lifted their price target on shares of Chesapeake Energy from $117.00 to $118.00 and gave the company an “equal weight” rating in a report on Tuesday, July 30th. Truist Financial reduced their price target on shares of Chesapeake Energy from $112.00 to $108.00 and set a “buy” rating on the stock in a research report on Monday, July 22nd. Wolfe Research began coverage on shares of Chesapeake Energy in a report on Thursday, July 18th. They issued an “outperform” rating and a $110.00 price objective for the company. KeyCorp started coverage on Chesapeake Energy in a report on Thursday, June 27th. They set a “sector weight” rating on the stock. Finally, Mizuho raised their target price on Chesapeake Energy from $101.00 to $111.00 and gave the company a “buy” rating in a research note on Monday, May 13th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $106.69.

Chesapeake Energy Company Profile

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.