Chesapeake Energy Co. (NASDAQ:CHK) Shares Acquired by Wedge Capital Management L L P NC

Wedge Capital Management L L P NC lifted its stake in shares of Chesapeake Energy Co. (NASDAQ:CHK) by 19.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 243,119 shares of the company’s stock after acquiring an additional 39,574 shares during the period. Wedge Capital Management L L P NC’s holdings in Chesapeake Energy were worth $18,706,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Signaturefd LLC boosted its holdings in Chesapeake Energy by 16.5% during the fourth quarter. Signaturefd LLC now owns 1,250 shares of the company’s stock worth $96,000 after buying an additional 177 shares in the last quarter. Wetzel Investment Advisors Inc. acquired a new position in Chesapeake Energy in the fourth quarter worth about $86,000. Daiwa Securities Group Inc. lifted its position in shares of Chesapeake Energy by 12.1% during the 4th quarter. Daiwa Securities Group Inc. now owns 7,513 shares of the company’s stock worth $578,000 after buying an additional 813 shares during the period. Mackenzie Financial Corp grew its holdings in shares of Chesapeake Energy by 13.6% in the 4th quarter. Mackenzie Financial Corp now owns 102,147 shares of the company’s stock worth $7,859,000 after purchasing an additional 12,243 shares during the last quarter. Finally, Strs Ohio bought a new position in shares of Chesapeake Energy in the fourth quarter valued at approximately $1,605,000. 97.93% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Mizuho reaffirmed a “buy” rating and issued a $100.00 target price on shares of Chesapeake Energy in a research note on Thursday, April 11th. Citigroup raised Chesapeake Energy from a “neutral” rating to a “buy” rating and increased their target price for the stock from $82.00 to $95.00 in a research note on Friday, January 12th. Benchmark cut their target price on Chesapeake Energy from $107.00 to $93.00 and set a “buy” rating on the stock in a research note on Tuesday, April 9th. Truist Financial cut their price target on shares of Chesapeake Energy from $119.00 to $112.00 and set a “buy” rating for the company in a research note on Friday, April 5th. Finally, Barclays initiated coverage on Chesapeake Energy in a report on Wednesday, April 10th. They set an “equal weight” rating and a $102.00 price target for the company. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, Chesapeake Energy has a consensus rating of “Hold” and a consensus price target of $103.58.

Chesapeake Energy Trading Down 0.8 %

NASDAQ CHK opened at $87.70 on Tuesday. Chesapeake Energy Co. has a 12 month low of $72.84 and a 12 month high of $91.03. The firm has a market capitalization of $11.47 billion, a P/E ratio of 5.25 and a beta of 0.52. The business has a fifty day simple moving average of $84.83 and a 200 day simple moving average of $82.00. The company has a current ratio of 1.99, a quick ratio of 1.99 and a debt-to-equity ratio of 0.19.

Chesapeake Energy (NASDAQ:CHK) last posted its quarterly earnings data on Tuesday, February 20th. The company reported $1.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.42 by $0.89. Chesapeake Energy had a net margin of 27.74% and a return on equity of 6.74%. The company had revenue of $1.95 billion during the quarter, compared to the consensus estimate of $962.95 million. During the same period in the previous year, the firm posted $4.22 EPS. On average, analysts predict that Chesapeake Energy Co. will post 2.03 EPS for the current fiscal year.

Chesapeake Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 26th. Shareholders of record on Thursday, March 7th were given a dividend of $0.575 per share. The ex-dividend date was Wednesday, March 6th. This represents a $2.30 annualized dividend and a yield of 2.62%. Chesapeake Energy’s payout ratio is 13.66%.

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.