Easterly Investment Partners LLC Increases Stock Holdings in Chesapeake Energy Co. (NASDAQ:CHK)

Easterly Investment Partners LLC lifted its position in Chesapeake Energy Co. (NASDAQ:CHK - Free Report) by 82.7% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 88,285 shares of the company's stock after purchasing an additional 39,959 shares during the quarter. Easterly Investment Partners LLC owned about 0.07% of Chesapeake Energy worth $7,256,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of CHK. Aurora Investment Counsel lifted its position in Chesapeake Energy by 1.1% in the first quarter. Aurora Investment Counsel now owns 11,930 shares of the company's stock valued at $1,060,000 after buying an additional 135 shares during the last quarter. Signaturefd LLC lifted its position in Chesapeake Energy by 16.5% in the fourth quarter. Signaturefd LLC now owns 1,250 shares of the company's stock valued at $96,000 after buying an additional 177 shares during the last quarter. Lindbrook Capital LLC lifted its position in Chesapeake Energy by 90.8% in the first quarter. Lindbrook Capital LLC now owns 374 shares of the company's stock valued at $33,000 after buying an additional 178 shares during the last quarter. Clear Harbor Asset Management LLC lifted its position in Chesapeake Energy by 1.3% in the second quarter. Clear Harbor Asset Management LLC now owns 13,895 shares of the company's stock valued at $1,142,000 after buying an additional 180 shares during the last quarter. Finally, Abich Financial Wealth Management LLC lifted its position in Chesapeake Energy by 32.4% in the first quarter. Abich Financial Wealth Management LLC now owns 900 shares of the company's stock valued at $80,000 after buying an additional 220 shares during the last quarter. Hedge funds and other institutional investors own 97.93% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on CHK. Wolfe Research began coverage on shares of Chesapeake Energy in a research report on Thursday, July 18th. They set an "outperform" rating and a $110.00 price target on the stock. KeyCorp began coverage on shares of Chesapeake Energy in a research report on Thursday, June 27th. They set a "sector weight" rating on the stock. Truist Financial reduced their price target on shares of Chesapeake Energy from $112.00 to $108.00 and set a "buy" rating on the stock in a research report on Monday, July 22nd. Benchmark reduced their price target on shares of Chesapeake Energy from $107.00 to $93.00 and set a "buy" rating on the stock in a research report on Thursday, May 2nd. Finally, StockNews.com upgraded shares of Chesapeake Energy to a "sell" rating in a research note on Wednesday, August 14th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, Chesapeake Energy has a consensus rating of "Hold" and a consensus price target of $107.17.

Chesapeake Energy Stock Performance

Shares of NASDAQ CHK traded up $1.83 during mid-day trading on Friday, hitting $73.44. 1,036,515 shares of the company were exchanged, compared to its average volume of 1,874,559. Chesapeake Energy Co. has a 1-year low of $69.42 and a 1-year high of $93.58. The company has a quick ratio of 2.33, a current ratio of 2.16 and a debt-to-equity ratio of 0.19. The stock has a 50 day simple moving average of $78.67 and a 200-day simple moving average of $83.67. The firm has a market cap of $9.62 billion, a price-to-earnings ratio of 9.90 and a beta of 0.47.

Chesapeake Energy (NASDAQ:CHK - Get Free Report) last released its earnings results on Monday, July 29th. The company reported $0.01 EPS for the quarter, missing analysts' consensus estimates 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 analyst estimates of $822.54 million. During the same period last year, the business posted $0.64 EPS. Chesapeake Energy's revenue was down 73.3% compared to the same quarter last year. On average, sell-side analysts forecast that Chesapeake Energy Co. will post 1.34 EPS for the current fiscal year.

Chesapeake Energy Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 5th. Stockholders of record on Thursday, August 15th will be paid a dividend of $0.575 per share. This represents a $2.30 annualized dividend and a dividend yield of 3.13%. The ex-dividend date is Thursday, August 15th. Chesapeake Energy's dividend payout ratio (DPR) is presently 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.