Axxcess Wealth Management LLC Purchases 3,636 Shares of Chesapeake Energy Co. (NASDAQ:CHK)

Axxcess Wealth Management LLC lifted its position in shares of Chesapeake Energy Co. (NASDAQ:CHK) by 141.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,200 shares of the company’s stock after buying an additional 3,636 shares during the quarter. Axxcess Wealth Management LLC’s holdings in Chesapeake Energy were worth $477,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. SG Americas Securities LLC raised its stake in Chesapeake Energy by 11.1% in the third quarter. SG Americas Securities LLC now owns 2,399 shares of the company’s stock worth $207,000 after buying an additional 239 shares in the last quarter. Raymond James & Associates boosted its position in Chesapeake Energy by 3.3% during the third quarter. Raymond James & Associates now owns 185,535 shares of the company’s stock valued at $15,999,000 after purchasing an additional 5,857 shares in the last quarter. Stratos Wealth Partners LTD. grew its stake in Chesapeake Energy by 4.8% in the third quarter. Stratos Wealth Partners LTD. now owns 3,607 shares of the company’s stock valued at $311,000 after purchasing an additional 165 shares during the last quarter. New York State Teachers Retirement System bought a new position in Chesapeake Energy in the third quarter worth about $7,561,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Chesapeake Energy by 12.7% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 43,430 shares of the company’s stock valued at $3,745,000 after buying an additional 4,892 shares during the last quarter. Hedge funds and other institutional investors own 97.93% of the company’s stock.

Chesapeake Energy Trading Down 0.5 %

Shares of NASDAQ CHK opened at $88.62 on Wednesday. The stock has a market capitalization of $11.61 billion, a P/E ratio of 11.94 and a beta of 0.51. The stock’s 50 day moving average price is $86.79 and its two-hundred day moving average price is $82.05. The company has a quick ratio of 2.33, a current ratio of 2.33 and a debt-to-equity ratio of 0.19. Chesapeake Energy Co. has a 52-week low of $72.84 and a 52-week high of $93.58.

Chesapeake Energy (NASDAQ:CHK) last issued its quarterly earnings data on Tuesday, April 30th. The company reported $0.56 EPS for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.08). Chesapeake Energy had a return on equity of 4.87% and a net margin of 16.42%. The company had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $674.99 million. During the same quarter in the previous year, the company earned $1.87 earnings per share. On average, analysts anticipate that Chesapeake Energy Co. will post 1.19 earnings per share for the current fiscal year.

Chesapeake Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 5th. Investors of record on Thursday, May 16th will be paid a $0.715 dividend. The ex-dividend date is Wednesday, May 15th. This represents a $2.86 dividend on an annualized basis and a yield of 3.23%. This is a boost from Chesapeake Energy’s previous quarterly dividend of $0.58. Chesapeake Energy’s dividend payout ratio (DPR) is currently 31.00%.

Analysts Set New Price Targets

A number of equities research analysts have commented on CHK shares. Citigroup upgraded Chesapeake Energy from a “neutral” rating to a “buy” rating and increased their price target for the company from $82.00 to $95.00 in a research note on Friday, January 12th. UBS Group lifted their target price on shares of Chesapeake Energy from $92.00 to $94.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 10th. KeyCorp assumed coverage on shares of Chesapeake Energy in a research note on Thursday, April 4th. They set a “sector weight” rating on the stock. Truist Financial lowered their price objective on shares of Chesapeake Energy from $119.00 to $112.00 and set a “buy” rating for the company in a research note on Friday, April 5th. Finally, Jefferies Financial Group reduced their target price on Chesapeake Energy from $118.00 to $115.00 and set a “buy” rating for the company in a research note on Wednesday, April 10th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $105.83.

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.