Van ECK Associates Corp Reduces Holdings in Chesapeake Energy Co. (NASDAQ:CHK)

Van ECK Associates Corp cut its holdings in shares of Chesapeake Energy Co. (NASDAQ:CHK - Free Report) by 39.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 206,620 shares of the company's stock after selling 132,070 shares during the period. Van ECK Associates Corp owned approximately 0.16% of Chesapeake Energy worth $16,982,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of CHK. Principal Securities Inc. purchased a new stake in Chesapeake Energy during the 4th quarter valued at $28,000. Lindbrook Capital LLC boosted its position in Chesapeake Energy by 90.8% in the first quarter. Lindbrook Capital LLC now owns 374 shares of the company's stock worth $33,000 after purchasing an additional 178 shares during the last quarter. Allspring Global Investments Holdings LLC bought a new stake in shares of Chesapeake Energy during the 1st quarter valued at about $37,000. BOKF NA purchased a new stake in shares of Chesapeake Energy during the 1st quarter valued at about $45,000. Finally, GAMMA Investing LLC lifted its stake in shares of Chesapeake Energy by 75.6% in the 2nd quarter. GAMMA Investing LLC now owns 569 shares of the company's stock worth $47,000 after purchasing an additional 245 shares during the period. 97.93% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts recently issued reports on CHK shares. Truist Financial cut their target price on shares of Chesapeake Energy from $112.00 to $108.00 and set a "buy" rating for the company in a research report on Monday, July 22nd. StockNews.com raised shares of Chesapeake Energy to a "sell" rating in a research report on Wednesday, August 14th. Mizuho raised their target price on Chesapeake Energy from $101.00 to $111.00 and gave the stock a "buy" rating in a report on Monday, May 13th. KeyCorp assumed coverage on Chesapeake Energy in a report on Thursday, June 27th. They set a "sector weight" rating for the company. Finally, Scotiabank decreased their price objective on Chesapeake Energy from $110.00 to $105.00 and set a "sector perform" rating on the stock in a research note on Tuesday, August 20th. One 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. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $107.17.

Chesapeake Energy Price Performance

CHK stock traded up $0.50 during midday trading on Monday, hitting $74.49. The company's stock had a trading volume of 1,670,100 shares, compared to its average volume of 1,862,146. The firm has a market capitalization of $9.76 billion, a price-to-earnings ratio of 10.04 and a beta of 0.47. The company has a quick ratio of 2.16, a current ratio of 2.16 and a debt-to-equity ratio of 0.19. Chesapeake Energy Co. has a 12 month low of $69.42 and a 12 month high of $93.58. The company has a 50 day moving average of $77.43 and a two-hundred day moving average of $83.58.

Chesapeake Energy (NASDAQ:CHK - Get Free Report) last posted its earnings results on Monday, July 29th. The company reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.02 by ($0.01). The company had revenue of $505.00 million for the quarter, compared to analysts' expectations of $822.54 million. Chesapeake Energy had a net margin of 8.68% and a return on equity of 4.00%. The business's revenue was down 73.3% on a year-over-year basis. During the same period in the previous year, the business posted $0.64 earnings per share. On average, analysts expect that Chesapeake Energy Co. will post 1.32 EPS for the current year.

Chesapeake Energy Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 5th. Stockholders of record on Thursday, August 15th will be issued a $0.575 dividend. The ex-dividend date is Thursday, August 15th. This represents a $2.30 annualized dividend and a dividend yield of 3.09%. Chesapeake Energy's dividend payout ratio (DPR) is 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.