Raymond James & Associates Sells 20,975 Shares of Chesapeake Energy Co. (NASDAQ:CHK)

Raymond James & Associates decreased its holdings in Chesapeake Energy Co. (NASDAQ:CHK - Free Report) by 57.1% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,757 shares of the company's stock after selling 20,975 shares during the quarter. Raymond James & Associates' holdings in Chesapeake Energy were worth $1,295,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Principal Securities Inc. acquired a new position in shares of Chesapeake Energy in the 4th quarter valued at about $28,000. Lindbrook Capital LLC lifted its stake in shares of Chesapeake Energy by 90.8% in the 1st quarter. Lindbrook Capital LLC now owns 374 shares of the company's stock valued at $33,000 after purchasing an additional 178 shares in the last quarter. Allspring Global Investments Holdings LLC acquired a new position in shares of Chesapeake Energy in the 1st quarter valued at about $37,000. BOKF NA acquired a new position in shares of Chesapeake Energy in 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 valued at $47,000 after purchasing an additional 245 shares in the last quarter. Hedge funds and other institutional investors own 97.93% of the company's stock.

Chesapeake Energy Stock Down 1.6 %

Shares of CHK traded down $1.16 during midday trading on Friday, reaching $70.84. 4,699,642 shares of the stock were exchanged, compared to its average volume of 1,908,383. Chesapeake Energy Co. has a 12-month low of $69.42 and a 12-month high of $93.58. The firm has a 50 day simple moving average of $76.75 and a 200-day simple moving average of $83.37. The company has a quick ratio of 2.16, a current ratio of 2.16 and a debt-to-equity ratio of 0.19. The company has a market cap of $9.28 billion, a price-to-earnings ratio of 9.70 and a beta of 0.46.

Chesapeake Energy (NASDAQ:CHK - Get Free Report) last issued its quarterly earnings data on Monday, July 29th. The company reported $0.01 earnings per share for the quarter, missing analysts' consensus estimates of $0.02 by ($0.01). The company had revenue of $505.00 million during the quarter, compared to the consensus estimate of $822.54 million. Chesapeake Energy had a net margin of 8.68% and a return on equity of 4.00%. The firm'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. Research analysts forecast that Chesapeake Energy Co. will post 1.32 EPS for the current year.

Chesapeake Energy Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 5th. Investors of record on Thursday, August 15th were paid a $0.575 dividend. This represents a $2.30 annualized dividend and a yield of 3.25%. The ex-dividend date was Thursday, August 15th. Chesapeake Energy's dividend payout ratio is 31.00%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on CHK. KeyCorp assumed coverage on Chesapeake Energy in a research report on Thursday, June 27th. They set a "sector weight" rating on the stock. Wolfe Research began coverage on Chesapeake Energy in a research report on Thursday, July 18th. They issued an "outperform" rating and a $110.00 target price on the stock. Scotiabank lowered their price target on Chesapeake Energy from $110.00 to $105.00 and set a "sector perform" rating for the company in a report on Tuesday, August 20th. Truist Financial lowered their price target on Chesapeake Energy from $112.00 to $108.00 and set a "buy" rating for the company in a report on Monday, July 22nd. Finally, StockNews.com upgraded Chesapeake Energy to a "sell" rating in a research note on Wednesday, August 14th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, Chesapeake Energy presently has an average rating of "Hold" and a consensus price target of $107.17.

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.