Glenorchy Capital Ltd Acquires 11,424 Shares of Chesapeake Energy Co. (NASDAQ:CHK)

Glenorchy Capital Ltd boosted its holdings in Chesapeake Energy Co. (NASDAQ:CHK) by 73.7% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 26,918 shares of the company’s stock after buying an additional 11,424 shares during the quarter. Chesapeake Energy accounts for approximately 0.7% of Glenorchy Capital Ltd’s holdings, making the stock its 28th biggest position. Glenorchy Capital Ltd’s holdings in Chesapeake Energy were worth $2,214,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. Price T Rowe Associates Inc. MD boosted its stake in shares of Chesapeake Energy by 233.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 9,059,644 shares of the company’s stock worth $804,769,000 after buying an additional 6,338,963 shares during the last quarter. Kimmeridge Energy Management Company LLC lifted its holdings in Chesapeake Energy by 28.8% in the second quarter. Kimmeridge Energy Management Company LLC now owns 3,694,879 shares of the company’s stock valued at $303,682,000 after acquiring an additional 827,000 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of Chesapeake Energy by 18.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,333,769 shares of the company’s stock valued at $274,005,000 after purchasing an additional 510,664 shares during the period. 1832 Asset Management L.P. increased its position in shares of Chesapeake Energy by 247.9% during the 2nd quarter. 1832 Asset Management L.P. now owns 687,954 shares of the company’s stock valued at $56,543,000 after purchasing an additional 490,201 shares during the last quarter. Finally, Lord Abbett & CO. LLC lifted its stake in shares of Chesapeake Energy by 13.4% in the 1st quarter. Lord Abbett & CO. LLC now owns 2,599,352 shares of the company’s stock worth $230,900,000 after purchasing an additional 307,814 shares during the period. Hedge funds and other institutional investors own 97.93% of the company’s stock.

Wall Street Analysts Forecast Growth

CHK has been the subject of several recent research reports. Roth Mkm initiated coverage on shares of Chesapeake Energy in a research report on Friday, September 27th. They set a “buy” rating and a $92.00 target price for the company. Mizuho cut their price objective on shares of Chesapeake Energy from $111.00 to $105.00 and set an “outperform” rating for the company in a research report on Monday, September 16th. Wolfe Research initiated coverage on Chesapeake Energy in a report on Thursday, July 18th. They issued an “outperform” rating and a $110.00 target price on the stock. Roth Capital raised Chesapeake Energy to a “strong-buy” rating in a report on Friday, September 27th. Finally, Truist Financial reduced their price target on Chesapeake Energy from $108.00 to $96.00 and set a “buy” rating for the company in a research report on Monday, September 30th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $99.92.

Chesapeake Energy Stock Performance

Shares of CHK opened at $81.46 on Friday. The firm has a market cap of $10.68 billion, a P/E ratio of 10.98 and a beta of 0.47. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.16 and a quick ratio of 2.16. Chesapeake Energy Co. has a 1 year low of $69.12 and a 1 year high of $93.58. The company has a 50 day simple moving average of $75.74 and a two-hundred day simple moving average of $82.24.

Chesapeake Energy (NASDAQ:CHK) last issued its earnings results 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). The company 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 4.00% and a net margin of 8.68%. Chesapeake Energy’s revenue was down 73.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.64 EPS. On average, equities analysts expect that Chesapeake Energy Co. will post 1.43 earnings per share for the current fiscal year.

Chesapeake Energy Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 5th. Stockholders of record on Thursday, August 15th were issued a $0.575 dividend. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $2.30 annualized dividend and a dividend yield of 2.82%. Chesapeake Energy’s dividend payout ratio (DPR) is 31.00%.

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.