Chesapeake Energy (NASDAQ:CHK) Upgraded to “Strong-Buy” at Roth Capital

by · The Markets Daily

Roth Capital upgraded shares of Chesapeake Energy (NASDAQ:CHK – Free Report) to a strong-buy rating in a research report sent to investors on Friday morning, Zacks.com reports.

CHK has been the topic of a number of other research reports. KeyCorp began coverage on Chesapeake Energy in a research report on Thursday, June 27th. They set a sector weight rating on the stock. StockNews.com raised shares of Chesapeake Energy to a sell rating in a report on Wednesday, August 14th. Wolfe Research assumed coverage on Chesapeake Energy in a research note on Thursday, July 18th. They issued an outperform rating and a $110.00 target price on the stock. Scotiabank lowered their target price on Chesapeake Energy from $110.00 to $105.00 and set a sector perform rating for the company in a research note on Tuesday, August 20th. Finally, Truist Financial decreased their price target on shares of Chesapeake Energy from $112.00 to $108.00 and set a buy rating for the company in a research note on Monday, July 22nd. One research analyst has rated the stock with a sell rating, six have given a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Chesapeake Energy currently has an average rating of Moderate Buy and an average price target of $101.33.

Get Our Latest Stock Report on CHK

Chesapeake Energy Trading Up 2.9 %

Shares of CHK opened at $82.60 on Friday. The firm has a market cap of $10.82 billion, a P/E ratio of 11.13 and a beta of 0.46. The company has a debt-to-equity ratio of 0.19, a quick ratio of 2.16 and a current ratio of 2.16. The business has a 50-day moving average of $74.43 and a 200 day moving average of $82.62. Chesapeake Energy has a fifty-two week low of $69.12 and a fifty-two week high of $93.58.

Chesapeake Energy (NASDAQ:CHK – Get Free Report) last released its quarterly earnings data 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 during the quarter, compared to the consensus estimate 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 was down 73.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.64 earnings per share. As a group, research analysts forecast that Chesapeake Energy will post 1.43 EPS for the current year.

Chesapeake Energy Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 5th. Shareholders of record on Thursday, August 15th were given a $0.575 dividend. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $2.30 dividend on an annualized basis and a dividend yield of 2.78%. Chesapeake Energy’s dividend payout ratio (DPR) is currently 31.00%.

Institutional Investors Weigh In On Chesapeake Energy

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Price T Rowe Associates Inc. MD raised its holdings in Chesapeake Energy by 233.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 9,059,644 shares of the company’s stock worth $804,769,000 after purchasing an additional 6,338,963 shares in the last quarter. Massachusetts Financial Services Co. MA grew its stake in Chesapeake Energy by 7.6% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 4,119,498 shares of the company’s stock worth $338,582,000 after acquiring an additional 292,586 shares during the period. Kimmeridge Energy Management Company LLC increased its stake 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 purchasing an additional 827,000 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in Chesapeake Energy by 18.1% during the second quarter. Dimensional Fund Advisors LP now owns 3,333,769 shares of the company’s stock worth $274,005,000 after purchasing an additional 510,664 shares during the period. Finally, Lord Abbett & CO. LLC grew its holdings in shares of Chesapeake Energy by 13.4% during 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. Institutional investors and hedge funds own 97.93% of the company’s stock.

Chesapeake Energy Company Profile

(Get Free Report)

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.

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