Chesapeake Energy (NASDAQ:CHK) Price Target Cut to $108.00 by Analysts at Truist Financial

Chesapeake Energy (NASDAQ:CHK) had its price objective decreased by Truist Financial from $112.00 to $108.00 in a research note released on Monday, Benzinga reports. Truist Financial currently has a buy rating on the stock.

CHK has been the subject of a number of other research reports. 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. Jefferies Financial Group reduced their price objective on shares of Chesapeake Energy from $118.00 to $115.00 and set a buy rating on the stock in a research note on Wednesday, April 10th. Wolfe Research started coverage on shares of Chesapeake Energy in a research note on Thursday, July 18th. They issued an outperform rating and a $110.00 target price for the company. Mizuho lifted their price target on shares of Chesapeake Energy from $101.00 to $111.00 and gave the stock a buy rating in a research report on Monday, May 13th. Finally, UBS Group upped their price objective on shares of Chesapeake Energy from $92.00 to $94.00 and gave the company a neutral rating in a research report on Wednesday, April 10th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of Hold and an average target price of $106.62.

Chesapeake Energy Stock Performance

Chesapeake Energy stock opened at $77.40 on Monday. Chesapeake Energy has a 1 year low of $72.84 and a 1 year high of $93.58. The company’s 50-day moving average is $85.32 and its two-hundred day moving average is $84.25. 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 company has a market cap of $10.14 billion, a PE ratio of 10.43 and a beta of 0.47.

Chesapeake Energy (NASDAQ:CHK) last announced its quarterly earnings data 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). The business had revenue of $1.08 billion during the quarter, compared to analyst estimates of $674.99 million. Chesapeake Energy had a net margin of 16.42% and a return on equity of 4.87%. During the same quarter in the prior year, the company earned $1.87 earnings per share. Equities analysts anticipate that Chesapeake Energy will post 1.3 earnings per share for the current year.

Chesapeake Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 5th. Stockholders of record on Thursday, May 16th were given a $0.715 dividend. This represents a $2.86 dividend on an annualized basis and a dividend yield of 3.70%. The ex-dividend date was Wednesday, May 15th. This is a positive change from Chesapeake Energy’s previous quarterly dividend of $0.58. Chesapeake Energy’s payout ratio is currently 31.00%.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Panagora Asset Management Inc. increased its position in shares of Chesapeake Energy by 112.6% during the 4th quarter. Panagora Asset Management Inc. now owns 39,474 shares of the company’s stock worth $3,037,000 after purchasing an additional 20,910 shares during the last quarter. Benjamin F. Edwards & Company Inc. raised its position in Chesapeake Energy by 1,207.7% during the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 680 shares of the company’s stock worth $52,000 after acquiring an additional 628 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Chesapeake Energy by 1.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 640,285 shares of the company’s stock valued at $49,264,000 after acquiring an additional 11,133 shares during the period. Quest Partners LLC acquired a new position in shares of Chesapeake Energy during the 4th quarter worth about $975,000. Finally, American Century Companies Inc. raised its holdings in shares of Chesapeake Energy by 27.4% in the 3rd quarter. American Century Companies Inc. now owns 105,242 shares of the company’s stock valued at $9,075,000 after purchasing an additional 22,612 shares during the period. Institutional investors own 97.93% of the company’s stock.

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.