Vest Financial LLC Increases Holdings in Chesapeake Energy Co. (NASDAQ:CHK)

Vest Financial LLC grew its holdings in Chesapeake Energy Co. (NASDAQ:CHK) by 30.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 361,746 shares of the company’s stock after acquiring an additional 83,432 shares during the period. Vest Financial LLC owned about 0.28% of Chesapeake Energy worth $29,754,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also made changes to their positions in CHK. Allspring Global Investments Holdings LLC purchased a new stake in shares of Chesapeake Energy during the 1st quarter worth approximately $37,000. BOKF NA purchased a new position in Chesapeake Energy in the first quarter worth about $45,000. GAMMA Investing LLC grew its position in Chesapeake Energy by 75.6% in the second quarter. GAMMA Investing LLC now owns 569 shares of the company’s stock worth $47,000 after acquiring an additional 245 shares in the last quarter. Blue Trust Inc. grew its position in Chesapeake Energy by 895.6% in the second quarter. Blue Trust Inc. now owns 677 shares of the company’s stock worth $60,000 after acquiring an additional 609 shares in the last quarter. Finally, Mather Group LLC. grew its position in Chesapeake Energy by 1,384.8% in the second quarter. Mather Group LLC. now owns 683 shares of the company’s stock worth $61,000 after acquiring an additional 637 shares in the last quarter. 97.93% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. Scotiabank dropped their price target on Chesapeake Energy from $110.00 to $105.00 and set a “sector perform” rating for the company in a research report on Tuesday, August 20th. Roth Mkm initiated coverage on Chesapeake Energy in a research report on Friday, September 27th. They set a “buy” rating and a $92.00 target price for the company. Wolfe Research assumed coverage on Chesapeake Energy in a research report on Thursday, July 18th. They set an “outperform” rating and a $110.00 target price for the company. Stephens boosted their price target on Chesapeake Energy from $117.00 to $118.00 and gave the company an “equal weight” rating in a report on Tuesday, July 30th. Finally, Mizuho lowered their price target on Chesapeake Energy from $111.00 to $105.00 and set an “outperform” rating for the company in a report on Monday, September 16th. One research analyst has rated the stock with a sell rating, six have given a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Chesapeake Energy has a consensus rating of “Moderate Buy” and an average price target of $99.92.

Chesapeake Energy Stock Performance

NASDAQ:CHK remained flat at $81.46 during trading hours on Friday. 844 shares of the company were exchanged, compared to its average volume of 1,988,923. The stock has a market cap of $10.68 billion, a P/E ratio of 10.98 and a beta of 0.47. Chesapeake Energy Co. has a 52 week low of $69.12 and a 52 week high of $93.58. The company has a quick ratio of 2.16, a current ratio of 2.16 and a debt-to-equity ratio of 0.19. The firm has a 50 day simple moving average of $75.74 and a 200 day simple moving average of $82.24.

Chesapeake Energy (NASDAQ:CHK) last issued 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 business had revenue of $505.00 million during 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%. The business’s quarterly revenue was down 73.3% on a year-over-year basis. During the same period last year, the firm earned $0.64 EPS. As a group, analysts predict that Chesapeake Energy Co. will post 1.43 EPS for the current fiscal year.

Chesapeake Energy Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 5th. Stockholders of record on Thursday, August 15th were given a dividend of $0.575 per share. This represents a $2.30 dividend on an annualized basis and a dividend yield of 2.82%. The ex-dividend date was Thursday, August 15th. Chesapeake Energy’s payout ratio is presently 31.00%.

Chesapeake Energy 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.