Kimmeridge Energy Management Company LLC Purchases 827,000 Shares of Chesapeake Energy Co. (NASDAQ:CHK)

Kimmeridge Energy Management Company LLC lifted its position in shares of Chesapeake Energy Co. (NASDAQ:CHK - Free Report) by 28.8% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,694,879 shares of the company's stock after acquiring an additional 827,000 shares during the period. Chesapeake Energy makes up about 18.8% of Kimmeridge Energy Management Company LLC's portfolio, making the stock its 2nd largest holding. Kimmeridge Energy Management Company LLC owned approximately 2.82% of Chesapeake Energy worth $303,682,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the company. Principal Securities Inc. acquired a new position in Chesapeake Energy in the fourth quarter valued at $28,000. Lindbrook Capital LLC increased its position in shares of Chesapeake Energy by 90.8% during 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 during the last quarter. Allspring Global Investments Holdings LLC purchased a new position in shares of Chesapeake Energy in the 1st quarter worth about $37,000. BOKF NA purchased a new position in Chesapeake Energy in the first quarter valued at approximately $45,000. Finally, GAMMA Investing LLC raised its stake in shares of Chesapeake Energy by 75.6% in the second quarter. GAMMA Investing LLC now owns 569 shares of the company's stock valued at $47,000 after buying an additional 245 shares during the period. 97.93% of the stock is owned by institutional investors.

Analyst Ratings Changes

CHK has been the topic of a number of recent research reports. Truist Financial dropped their price objective on Chesapeake Energy from $112.00 to $108.00 and set a "buy" rating on the stock in a report on Monday, July 22nd. Wolfe Research assumed coverage on Chesapeake Energy in a research report on Thursday, July 18th. They issued an "outperform" rating and a $110.00 price objective on the stock. Stephens upped their target price on Chesapeake Energy from $117.00 to $118.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 30th. Scotiabank lowered their target price on Chesapeake Energy from $110.00 to $105.00 and set a "sector perform" rating for the company in a research note on Tuesday, August 20th. Finally, UBS Group dropped their target price on shares of Chesapeake Energy from $93.00 to $85.00 and set a "neutral" rating on the stock in a report on Wednesday. One equities 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 company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $105.92.

Chesapeake Energy Trading Up 2.5 %

Shares of NASDAQ CHK traded up $1.89 during mid-day trading on Friday, reaching $78.46. The company had a trading volume of 4,030,525 shares, compared to its average volume of 1,901,923. The business's 50-day moving average is $74.62 and its 200-day moving average is $82.72. The stock has a market cap of $10.28 billion, a price-to-earnings ratio of 10.57 and a beta of 0.46. Chesapeake Energy Co. has a 52 week low of $69.12 and a 52 week high of $93.58. The company has a current ratio of 2.16, a quick ratio of 2.16 and a debt-to-equity ratio of 0.19.

Chesapeake Energy (NASDAQ:CHK - Get Free Report) last posted 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). The business 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 company's revenue for the quarter was down 73.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.64 EPS. Equities analysts expect that Chesapeake Energy Co. will post 1.32 earnings per share for the current year.

Chesapeake Energy Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 5th. Shareholders of record on Thursday, August 15th were given a dividend of $0.575 per share. This represents a $2.30 annualized dividend and a dividend yield of 2.93%. The ex-dividend date was Thursday, August 15th. Chesapeake Energy's payout ratio is 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.