Chesapeake Energy (NASDAQ:CHK) Upgraded to “Sell” by StockNews.com

StockNews.com upgraded shares of Chesapeake Energy (NASDAQ:CHK) to a sell rating in a research report sent to investors on Wednesday.

A number of other equities analysts also recently issued reports on the stock. Mizuho lifted their price objective on shares of Chesapeake Energy from $101.00 to $111.00 and gave the stock a buy rating in a report on Monday, May 13th. Benchmark cut their price target on shares of Chesapeake Energy from $107.00 to $93.00 and set a buy rating on the stock in a report on Thursday, May 2nd. Wolfe Research initiated coverage on shares of Chesapeake Energy in a research note on Thursday, July 18th. They issued an outperform rating and a $110.00 price objective for the company. Truist Financial cut 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. Finally, Stephens increased their price target on Chesapeake Energy from $117.00 to $118.00 and gave the company an equal weight rating in a research report on Tuesday, July 30th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, Chesapeake Energy presently has a consensus rating of Hold and a consensus target price of $107.58.

Chesapeake Energy Stock Down 0.2 %

Chesapeake Energy stock opened at $72.93 on Wednesday. The company has a current ratio of 2.16, a quick ratio of 2.33 and a debt-to-equity ratio of 0.19. The firm’s fifty day moving average price is $80.09 and its two-hundred day moving average price is $83.79. The firm has a market capitalization of $9.56 billion, a price-to-earnings ratio of 9.83 and a beta of 0.47. Chesapeake Energy has a 1-year low of $69.42 and a 1-year high of $93.58.

Chesapeake Energy (NASDAQ:CHK) last released its quarterly 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). The company had revenue of $505.00 million for the quarter, compared to analyst estimates of $822.54 million. Chesapeake Energy had a net margin of 8.68% and a return on equity of 4.00%. Chesapeake Energy’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 EPS. On average, equities research analysts predict that Chesapeake Energy will post 1.34 earnings per share 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 given a $0.575 dividend. This represents a $2.30 annualized dividend and a dividend yield of 3.15%. The ex-dividend date is Thursday, August 15th. Chesapeake Energy’s dividend payout ratio (DPR) is currently 31.00%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the business. Creative Planning lifted its position in shares of Chesapeake Energy by 4.6% during the second quarter. Creative Planning now owns 19,352 shares of the company’s stock worth $1,591,000 after acquiring an additional 857 shares in the last quarter. Susquehanna Fundamental Investments LLC lifted its holdings in Chesapeake Energy by 72.4% during the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 141,413 shares of the company’s stock worth $11,623,000 after purchasing an additional 59,400 shares in the last quarter. Mackenzie Financial Corp lifted its holdings in Chesapeake Energy by 54.0% during the 2nd quarter. Mackenzie Financial Corp now owns 174,123 shares of the company’s stock worth $14,311,000 after purchasing an additional 61,077 shares in the last quarter. MBB Public Markets I LLC bought a new position in Chesapeake Energy in the 2nd quarter worth about $640,000. Finally, Deprince Race & Zollo Inc. grew its holdings in Chesapeake Energy by 10.0% during the 2nd quarter. Deprince Race & Zollo Inc. now owns 439,873 shares of the company’s stock valued at $36,153,000 after buying an additional 39,910 shares in the last quarter. 97.93% of the stock is owned by institutional investors.

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.