Chesapeake Energy Co. (NASDAQ:CHK) Receives $106.67 Average PT from Brokerages

Chesapeake Energy Co. (NASDAQ:CHK) has been assigned an average rating of “Hold” from the thirteen research firms that are currently covering the company, MarketBeat Ratings reports. Seven research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $106.67.

Several equities analysts have issued reports on the stock. 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 research report on Wednesday, April 10th. Barclays assumed coverage on Chesapeake Energy in a report on Wednesday, April 10th. They issued an “equal weight” rating and a $102.00 price objective for the company. Mizuho lifted their target price on Chesapeake Energy from $101.00 to $111.00 and gave the stock a “buy” rating in a report on Monday, May 13th. Benchmark lowered their price objective on Chesapeake Energy from $107.00 to $93.00 and set a “buy” rating for the company in a research report on Thursday, May 2nd. Finally, Scotiabank upped their target price on Chesapeake Energy from $92.00 to $110.00 and gave the company a “sector perform” rating in a report on Thursday, April 11th.

Chesapeake Energy Stock Performance

Shares of Chesapeake Energy stock opened at $90.73 on Wednesday. The company’s 50 day moving average price is $88.40 and its two-hundred day moving average price is $82.26. The firm has a market capitalization of $11.89 billion, a P/E ratio of 12.23 and a beta of 0.51. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.33 and a quick ratio of 2.33. Chesapeake Energy has a fifty-two week low of $72.84 and a fifty-two week high of $93.58.

Chesapeake Energy (NASDAQ:CHK) last issued its quarterly earnings data on Tuesday, April 30th. The company reported $0.56 earnings per share for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.08). The firm had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $674.99 million. Chesapeake Energy had a return on equity of 4.87% and a net margin of 16.42%. During the same quarter in the prior year, the firm earned $1.87 EPS. On average, equities analysts forecast that Chesapeake Energy will post 1.15 earnings per share for the current fiscal year.

Chesapeake Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 5th. Stockholders of record on Thursday, May 16th will be issued a dividend of $0.715 per share. The ex-dividend date is Wednesday, May 15th. This represents a $2.86 annualized dividend and a dividend yield of 3.15%. This is a positive change from Chesapeake Energy’s previous quarterly dividend of $0.58. Chesapeake Energy’s dividend payout ratio is currently 31.00%.

Institutional Trading of Chesapeake Energy

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CHK. TD Asset Management Inc increased its stake in Chesapeake Energy by 2.6% during the 3rd quarter. TD Asset Management Inc now owns 14,529 shares of the company’s stock valued at $1,253,000 after purchasing an additional 367 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its holdings in shares of Chesapeake Energy by 8.5% in the 3rd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 252,269 shares of the company’s stock worth $21,753,000 after acquiring an additional 19,804 shares during the last quarter. First Citizens Bank & Trust Co. bought a new position in Chesapeake Energy in the 3rd quarter valued at about $246,000. Yousif Capital Management LLC acquired a new position in Chesapeake Energy during the 3rd quarter valued at about $4,510,000. Finally, Fifth Third Bancorp bought a new stake in Chesapeake Energy during the 3rd quarter worth approximately $371,000. 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.