Chesapeake Energy Co. Forecasted to Post Q2 2024 Earnings of $0.13 Per Share (NASDAQ:CHK)

Chesapeake Energy Co. (NASDAQ:CHK) – Research analysts at Capital One Financial dropped their Q2 2024 earnings per share estimates for shares of Chesapeake Energy in a research note issued on Wednesday, May 1st. Capital One Financial analyst P. Johnston now forecasts that the company will post earnings of $0.13 per share for the quarter, down from their previous estimate of $0.30. The consensus estimate for Chesapeake Energy’s current full-year earnings is $1.19 per share. Capital One Financial also issued estimates for Chesapeake Energy’s Q3 2024 earnings at $0.07 EPS, Q4 2024 earnings at $0.26 EPS, FY2024 earnings at $1.02 EPS and FY2025 earnings at $3.95 EPS.

A number of other research analysts also recently commented on CHK. Truist Financial reduced their price target on Chesapeake Energy from $119.00 to $112.00 and set a “buy” rating for the company in a report on Friday, April 5th. Mizuho raised their price target on shares of Chesapeake Energy from $100.00 to $101.00 and gave the stock a “buy” rating in a research report on Wednesday, May 1st. UBS Group increased their price objective on shares of Chesapeake Energy from $92.00 to $94.00 and gave the company a “neutral” rating in a research note on Wednesday, April 10th. KeyCorp began coverage on shares of Chesapeake Energy in a research report on Thursday, April 4th. They issued a “sector weight” rating for the company. Finally, Jefferies Financial Group decreased their price target 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 issued a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, Chesapeake Energy has an average rating of “Hold” and an average price target of $105.83.

Chesapeake Energy Stock Down 0.5 %

Shares of Chesapeake Energy stock opened at $88.62 on Monday. Chesapeake Energy has a 1-year low of $72.84 and a 1-year high of $93.58. The company has a market capitalization of $11.61 billion, a PE ratio of 11.94 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. The business has a 50-day moving average of $86.79 and a 200-day moving average of $82.05.

Chesapeake Energy (NASDAQ:CHK) last announced its earnings results on Tuesday, April 30th. The company reported $0.56 earnings per share for the quarter, missing the consensus estimate of $0.64 by ($0.08). Chesapeake Energy had a net margin of 16.42% and a return on equity of 4.87%. The firm had revenue of $1.08 billion during the quarter, compared to analysts’ expectations of $674.99 million. During the same quarter last year, the company posted $1.87 earnings per share.

Hedge Funds Weigh In On Chesapeake Energy

Several hedge funds and other institutional investors have recently modified their holdings of CHK. SG Americas Securities LLC increased its position in Chesapeake Energy by 11.1% in the 3rd quarter. SG Americas Securities LLC now owns 2,399 shares of the company’s stock valued at $207,000 after acquiring an additional 239 shares during the period. Xponance Inc. raised its stake in shares of Chesapeake Energy by 215.0% during the third quarter. Xponance Inc. now owns 14,072 shares of the company’s stock valued at $1,213,000 after purchasing an additional 9,604 shares in the last quarter. Raymond James & Associates lifted its holdings in Chesapeake Energy by 3.3% in the third quarter. Raymond James & Associates now owns 185,535 shares of the company’s stock worth $15,999,000 after purchasing an additional 5,857 shares during the period. Stratos Wealth Partners LTD. grew its position in Chesapeake Energy by 4.8% in the 3rd quarter. Stratos Wealth Partners LTD. now owns 3,607 shares of the company’s stock valued at $311,000 after buying an additional 165 shares in the last quarter. Finally, New York State Teachers Retirement System acquired a new position in shares of Chesapeake Energy during the third quarter valued at approximately $7,561,000. Institutional investors and hedge funds own 97.93% of the company’s stock.

Chesapeake Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 5th. Investors of record on Thursday, May 16th will be given a dividend of $0.715 per share. 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 positive change from Chesapeake Energy’s previous quarterly dividend of $0.58. Chesapeake Energy’s payout ratio is currently 31.00%.

About Chesapeake Energy

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.