Brokerages Set Chesapeake Energy Co. (NASDAQ:CHK) Target Price at $106.62

Chesapeake Energy Co. (NASDAQ:CHK) has received a consensus recommendation of “Moderate Buy” from the fourteen analysts that are currently covering the stock, Marketbeat.com reports. Seven research analysts have rated the stock with a hold rating and seven have issued a buy rating on the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $106.69.

Several equities analysts have recently issued reports on CHK shares. 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 report on Monday, July 22nd. Jefferies Financial Group decreased their price target on shares of Chesapeake Energy from $118.00 to $115.00 and set a “buy” rating for the company in a report on Wednesday, April 10th. Barclays started coverage on shares of Chesapeake Energy in a research note on Wednesday, April 10th. They issued an “equal weight” rating and a $102.00 target price for the company. Scotiabank upped their target price on shares of Chesapeake Energy from $92.00 to $110.00 and gave the stock a “sector perform” rating in a research note on Thursday, April 11th. Finally, Stephens upped their target price on shares of Chesapeake Energy from $117.00 to $118.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 30th.

Chesapeake Energy Stock Performance

Shares of Chesapeake Energy stock opened at $72.43 on Monday. The firm has a fifty day moving average of $83.56 and a two-hundred day moving average of $84.16. The stock has a market capitalization of $9.49 billion, a price-to-earnings ratio of 9.76 and a beta of 0.47. Chesapeake Energy has a 52 week low of $71.47 and a 52 week high of $93.58. The company has a debt-to-equity ratio of 0.19, a quick ratio of 2.33 and a current ratio of 2.16.

Chesapeake Energy (NASDAQ:CHK) last announced its quarterly earnings results on Monday, July 29th. The company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate 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 analyst estimates of $822.54 million. During the same period last year, the firm earned $0.64 EPS. Chesapeake Energy’s quarterly revenue was down 73.3% on a year-over-year basis. As a group, equities research analysts predict that Chesapeake Energy will post 1.34 EPS for the current year.

Chesapeake Energy Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 5th. Stockholders of record on Thursday, August 15th will be paid 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 dividend payout ratio is 31.00%.

Institutional Investors Weigh In On Chesapeake Energy

A number of institutional investors and hedge funds have recently modified their holdings of CHK. Price T Rowe Associates Inc. MD raised its holdings in 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 valued at $804,769,000 after acquiring an additional 6,338,963 shares during the period. Scout Investments Inc. bought a new position in shares of Chesapeake Energy during the fourth quarter worth approximately $32,079,000. Lord Abbett & CO. LLC increased its holdings in shares of Chesapeake Energy by 13.4% during the first 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. Dimensional Fund Advisors LP increased its holdings in shares of Chesapeake Energy by 15.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,958,837 shares of the company’s stock worth $150,723,000 after purchasing an additional 265,853 shares during the period. Finally, Zurich Insurance Group Ltd FI bought a new position in shares of Chesapeake Energy during the first quarter worth approximately $19,639,000. 97.93% of the stock is owned by institutional investors.

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.