Retirement Systems of Alabama Buys 9,765 Shares of Chesapeake Energy Co. (NASDAQ:CHK)

Retirement Systems of Alabama boosted its holdings in Chesapeake Energy Co. (NASDAQ:CHK) by 3.9% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 263,236 shares of the company’s stock after purchasing an additional 9,765 shares during the quarter. Retirement Systems of Alabama’s holdings in Chesapeake Energy were worth $20,253,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Gladius Capital Management LP purchased a new stake in Chesapeake Energy in the 3rd quarter worth $36,000. GAMMA Investing LLC purchased a new stake in shares of Chesapeake Energy in the fourth quarter worth about $40,000. Adirondack Trust Co. bought a new position in Chesapeake Energy during the third quarter valued at approximately $43,000. Allworth Financial LP grew its holdings in Chesapeake Energy by 160.7% during the 4th quarter. Allworth Financial LP now owns 730 shares of the company’s stock valued at $56,000 after buying an additional 450 shares in the last quarter. Finally, Wetzel Investment Advisors Inc. purchased a new position in Chesapeake Energy during the 4th quarter valued at approximately $86,000. Institutional investors own 97.93% of the company’s stock.

Chesapeake Energy Price Performance

Shares of CHK stock opened at $92.96 on Tuesday. The stock has a 50 day moving average price of $86.18 and a 200 day moving average price of $82.10. The firm has a market capitalization of $12.16 billion, a P/E ratio of 5.52 and a beta of 0.52. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.99 and a current ratio of 1.99. Chesapeake Energy Co. has a 52-week low of $72.84 and a 52-week high of $93.15.

Chesapeake Energy (NASDAQ:CHK) last released its earnings results on Tuesday, February 20th. The company reported $1.31 earnings per share for the quarter, topping the consensus estimate of $0.42 by $0.89. The business had revenue of $1.95 billion during the quarter, compared to the consensus estimate of $962.95 million. Chesapeake Energy had a return on equity of 6.74% and a net margin of 27.74%. During the same period last year, the company earned $4.22 earnings per share. As a group, sell-side analysts predict that Chesapeake Energy Co. will post 1.76 earnings per share for the current year.

Chesapeake Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 26th. Shareholders of record on Thursday, March 7th were given a $0.575 dividend. The ex-dividend date was Wednesday, March 6th. This represents a $2.30 annualized dividend and a yield of 2.47%. Chesapeake Energy’s dividend payout ratio (DPR) is 13.66%.

Analyst Ratings Changes

CHK has been the subject of a number of research reports. Jefferies Financial Group lowered their target price on 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 began coverage on shares of Chesapeake Energy in a research note on Wednesday, April 10th. They issued an “equal weight” rating and a $102.00 price objective for the company. Truist Financial decreased their target price on shares of Chesapeake Energy from $119.00 to $112.00 and set a “buy” rating on the stock in a research report on Friday, April 5th. Benchmark dropped their price target on Chesapeake Energy from $107.00 to $93.00 and set a “buy” rating for the company in a research report on Tuesday, April 9th. Finally, Scotiabank boosted their price objective on Chesapeake Energy from $92.00 to $110.00 and gave the stock a “sector perform” rating in a research note on Thursday, April 11th. One analyst has rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $104.73.

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.