Principal Financial Group Inc. trimmed its position in shares of Chesapeake Energy Co. (NASDAQ:CHK - Free Report) by 6.9% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 436,015 shares of the company's stock after selling 32,118 shares during the quarter. Principal Financial Group Inc. owned approximately 0.33% of Chesapeake Energy worth $35,836,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors have also made changes to their positions in CHK. Principal Securities Inc. bought a new position in Chesapeake Energy in the fourth quarter valued at approximately $28,000. Lindbrook Capital LLC increased its position in shares of Chesapeake Energy by 90.8% during the first quarter. Lindbrook Capital LLC now owns 374 shares of the company's stock valued at $33,000 after acquiring an additional 178 shares during the last quarter. Allspring Global Investments Holdings LLC bought a new stake in Chesapeake Energy during the 1st quarter valued at approximately $37,000. GAMMA Investing LLC bought a new position in Chesapeake Energy in the 4th quarter valued at approximately $40,000. Finally, BOKF NA purchased a new stake in shares of Chesapeake Energy in the 1st quarter worth $45,000. 97.93% of the stock is currently owned by institutional investors and hedge funds.
Chesapeake Energy Stock Performance
CHK stock traded up $0.50 during mid-day trading on Friday, hitting $74.49. The company had a trading volume of 1,670,173 shares, compared to its average volume of 1,539,532. The company has a debt-to-equity ratio of 0.19, a quick ratio of 2.16 and a current ratio of 2.16. Chesapeake Energy Co. has a 12 month low of $69.42 and a 12 month high of $93.58. The firm has a market cap of $9.76 billion, a PE ratio of 10.04 and a beta of 0.47. The stock's fifty day moving average price is $77.64 and its two-hundred day moving average price is $83.61.
Chesapeake Energy (NASDAQ:CHK - Get Free Report) last issued its quarterly earnings data 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 return on equity of 4.00% and a net margin of 8.68%. The company had revenue of $505.00 million during the quarter, compared to the consensus estimate of $822.54 million. During the same quarter last year, the company posted $0.64 earnings per share. The firm's revenue for the quarter was down 73.3% compared to the same quarter last year. On average, analysts forecast that Chesapeake Energy Co. will post 1.32 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. Shareholders of record on Thursday, August 15th will be paid a $0.575 dividend. The ex-dividend date is Thursday, August 15th. This represents a $2.30 annualized dividend and a yield of 3.09%. Chesapeake Energy's dividend payout ratio (DPR) is presently 31.00%.
Analysts Set New Price Targets
A number of research firms recently weighed in on CHK. KeyCorp began coverage on shares of Chesapeake Energy in a research report on Thursday, June 27th. They issued a "sector weight" rating on the stock. Mizuho boosted 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. Truist Financial lowered their target price on shares of Chesapeake Energy from $112.00 to $108.00 and set a "buy" rating on the stock in a report on Monday, July 22nd. Stephens lifted their target price on shares of Chesapeake Energy from $117.00 to $118.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 30th. Finally, Wolfe Research began coverage on shares of Chesapeake Energy in a research report on Thursday, July 18th. They issued an "outperform" rating and a $110.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, Chesapeake Energy currently has a consensus rating of "Hold" and a consensus target price of $107.17.
Read Our Latest Stock Analysis on Chesapeake Energy
About Chesapeake Energy
(
Free Report)
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.
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