Wealth Enhancement Advisory Services LLC Has $2.40 Million Stake in Chesapeake Energy Co. (NASDAQ:CHK)

Wealth Enhancement Advisory Services LLC lifted its position in Chesapeake Energy Co. (NASDAQ:CHK - Free Report) by 705.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 29,229 shares of the company's stock after acquiring an additional 25,600 shares during the period. Wealth Enhancement Advisory Services LLC's holdings in Chesapeake Energy were worth $2,402,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in CHK. Wedmont Private Capital lifted its stake in Chesapeake Energy by 34.8% in the 2nd quarter. Wedmont Private Capital now owns 4,178 shares of the company's stock worth $349,000 after purchasing an additional 1,079 shares in the last quarter. Spectrum Asset Management Inc. NB CA increased its holdings in shares of Chesapeake Energy by 3.9% in the second quarter. Spectrum Asset Management Inc. NB CA now owns 10,501 shares of the company's stock valued at $863,000 after purchasing an additional 391 shares during the last quarter. QRG Capital Management Inc. lifted its position in Chesapeake Energy by 31.5% during the second quarter. QRG Capital Management Inc. now owns 9,600 shares of the company's stock worth $789,000 after buying an additional 2,301 shares in the last quarter. Manning & Napier Advisors LLC acquired a new position in Chesapeake Energy during the second quarter worth $3,897,000. Finally, NBC Securities Inc. grew its holdings in Chesapeake Energy by 9.9% in the 2nd quarter. NBC Securities Inc. now owns 13,704 shares of the company's stock valued at $1,126,000 after buying an additional 1,231 shares in the last quarter. 97.93% of the stock is currently owned by hedge funds and other institutional investors.

Chesapeake Energy Stock Down 0.2 %

Shares of CHK traded down $0.13 during mid-day trading on Friday, hitting $72.93. 927,918 shares of the company's stock were exchanged, compared to its average volume of 1,895,235. The company has a debt-to-equity ratio of 0.19, a quick ratio of 2.33 and a current ratio of 2.16. The company has a market cap of $9.56 billion, a price-to-earnings ratio of 9.83 and a beta of 0.47. The stock's 50-day moving average is $80.09 and its 200-day moving average is $83.84. Chesapeake Energy Co. has a fifty-two week low of $69.42 and a fifty-two week high of $93.58.

Chesapeake Energy (NASDAQ:CHK - Get Free Report) last issued its quarterly earnings results on Monday, July 29th. The company reported $0.01 EPS for the quarter, missing the consensus estimate of $0.02 by ($0.01). Chesapeake Energy had a net margin of 8.68% and a return on equity of 4.00%. The business had revenue of $505.00 million during the quarter, compared to analysts' expectations of $822.54 million. During the same period in the prior year, the business earned $0.64 EPS. The business's quarterly revenue was down 73.3% on a year-over-year basis. On average, sell-side analysts anticipate that Chesapeake Energy Co. will post 1.34 earnings per share for the current fiscal year.

Chesapeake Energy Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 5th. Investors of record on Thursday, August 15th will be paid a dividend of $0.575 per share. The ex-dividend date is Thursday, August 15th. This represents a $2.30 annualized dividend and a yield of 3.15%. Chesapeake Energy's payout ratio is 31.00%.

Wall Street Analyst Weigh In

CHK has been the topic of several recent research reports. Stephens boosted their price target on shares of Chesapeake Energy from $117.00 to $118.00 and gave the company an "equal weight" rating in a research report on Tuesday, July 30th. Wolfe Research began coverage on shares of Chesapeake Energy in a research note on Thursday, July 18th. They issued an "outperform" rating and a $110.00 price target for the company. StockNews.com raised shares of Chesapeake Energy to a "sell" rating in a research report on Wednesday. Mizuho increased their price objective on Chesapeake Energy from $101.00 to $111.00 and gave the stock a "buy" rating in a research report on Monday, May 13th. Finally, Truist Financial cut their target price on Chesapeake Energy from $112.00 to $108.00 and set a "buy" rating for the company in a research note on Monday, July 22nd. One analyst has rated the stock with a sell rating, six have given a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Hold" and an average price target of $107.58.

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.