Hodges Capital Management Inc. Has $12.61 Million Holdings in Chesapeake Energy Co. (NASDAQ:CHK)

Hodges Capital Management Inc. reduced its stake in shares of Chesapeake Energy Co. (NASDAQ:CHK) by 13.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 141,980 shares of the company’s stock after selling 21,174 shares during the quarter. Hodges Capital Management Inc.’s holdings in Chesapeake Energy were worth $12,612,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of CHK. Principal Securities Inc. bought a new position in shares of Chesapeake Energy during the 4th quarter worth about $28,000. Gladius Capital Management LP bought a new position in shares of Chesapeake Energy during the 3rd quarter worth about $36,000. GAMMA Investing LLC bought a new position in shares of Chesapeake Energy during the 4th quarter worth about $40,000. Benjamin F. Edwards & Company Inc. lifted its holdings in shares of Chesapeake Energy by 1,207.7% during the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 680 shares of the company’s stock worth $52,000 after acquiring an additional 628 shares during the period. Finally, Allworth Financial LP lifted its holdings in shares of Chesapeake Energy by 160.7% during the 4th quarter. Allworth Financial LP now owns 730 shares of the company’s stock worth $56,000 after acquiring an additional 450 shares during the period. 97.93% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Jefferies Financial Group reduced their price objective on shares of Chesapeake Energy from $118.00 to $115.00 and set a “buy” rating for the company in a report on Wednesday, April 10th. Benchmark reduced their price objective on shares of Chesapeake Energy from $107.00 to $93.00 and set a “buy” rating for the company in a report on Thursday, May 2nd. Truist Financial cut their price target on shares of Chesapeake Energy from $119.00 to $112.00 and set a “buy” rating for the company in a report on Friday, April 5th. UBS Group lifted their price target on shares of Chesapeake Energy from $92.00 to $94.00 and gave the company a “neutral” rating in a report on Wednesday, April 10th. Finally, KeyCorp started coverage on shares of Chesapeake Energy in a report on Thursday. They set a “sector weight” rating for the company. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $106.67.

Chesapeake Energy Trading Down 0.2 %

Shares of NASDAQ:CHK traded down $0.13 during trading on Friday, hitting $82.19. 1,814,831 shares of the company’s stock were exchanged, compared to its average volume of 1,558,353. Chesapeake Energy Co. has a 1-year low of $72.84 and a 1-year high of $93.58. The firm has a 50-day moving average price of $88.11 and a two-hundred day moving average price of $83.56. The company has a current ratio of 2.33, a quick ratio of 2.33 and a debt-to-equity ratio of 0.19. The firm has a market cap of $10.77 billion, a P/E ratio of 11.08 and a beta of 0.50.

Chesapeake Energy (NASDAQ:CHK) last issued its quarterly earnings results on Tuesday, April 30th. The company reported $0.56 EPS for the quarter, missing the consensus estimate of $0.64 by ($0.08). Chesapeake Energy had a return on equity of 4.87% and a net margin of 16.42%. The business had revenue of $1.08 billion for the quarter, compared to analyst estimates of $674.99 million. During the same quarter in the prior year, the firm earned $1.87 EPS. Equities analysts predict that Chesapeake Energy Co. will post 0.98 earnings per share for the current year.

Chesapeake Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 5th. Investors of record on Thursday, May 16th were issued a dividend of $0.715 per share. The ex-dividend date was Wednesday, May 15th. This represents a $2.86 dividend on an annualized basis and a yield of 3.48%. This is a boost from Chesapeake Energy’s previous quarterly dividend of $0.58. Chesapeake Energy’s payout ratio is currently 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.