Chesapeake Energy Sees Unusually Large Options Volume (NASDAQ:CHK)

Chesapeake Energy Co. (NASDAQ:CHK) was the target of some unusual options trading activity on Tuesday. Stock traders bought 4,239 put options on the stock. This is an increase of 62% compared to the average daily volume of 2,613 put options.

Chesapeake Energy Stock Up 0.1 %

Shares of CHK stock traded up $0.10 on Tuesday, hitting $73.16. The company’s stock had a trading volume of 284,212 shares, compared to its average volume of 1,882,947. The stock has a market capitalization of $9.59 billion, a price-to-earnings ratio of 9.85 and a beta of 0.46. Chesapeake Energy has a fifty-two week low of $69.12 and a fifty-two week high of $93.58. The firm’s fifty day moving average price is $75.21 and its 200-day moving average price is $82.91. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.16 and a quick ratio of 2.16.

Chesapeake Energy (NASDAQ:CHK) last announced its quarterly earnings results 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 analyst estimates of $822.54 million. Chesapeake Energy had a return on equity of 4.00% and a net margin of 8.68%. Chesapeake Energy’s quarterly revenue was down 73.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.64 EPS. Research analysts anticipate that Chesapeake Energy 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. Shareholders of record on Thursday, August 15th were issued a dividend of $0.575 per share. The ex-dividend date was Thursday, August 15th. This represents a $2.30 annualized dividend and a yield of 3.14%. Chesapeake Energy’s dividend payout ratio (DPR) is presently 31.00%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on CHK shares. Wolfe Research began coverage on Chesapeake Energy in a research report on Thursday, July 18th. They set an “outperform” rating and a $110.00 target price on the stock. StockNews.com upgraded Chesapeake Energy to a “sell” rating in a report on Wednesday, August 14th. KeyCorp began coverage on shares of Chesapeake Energy in a research note on Thursday, June 27th. They set a “sector weight” rating for the company. 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, Truist Financial cut their price target 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. One research analyst has rated the stock with a sell rating, six have issued a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, Chesapeake Energy has a consensus rating of “Hold” and an average price target of $106.67.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Price T Rowe Associates Inc. MD grew its position in Chesapeake Energy by 233.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 9,059,644 shares of the company’s stock worth $804,769,000 after purchasing an additional 6,338,963 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its stake in shares of Chesapeake Energy by 7.6% in the second quarter. Massachusetts Financial Services Co. MA now owns 4,119,498 shares of the company’s stock valued at $338,582,000 after buying an additional 292,586 shares during the period. Kimmeridge Energy Management Company LLC grew its position in Chesapeake Energy by 28.8% during the second quarter. Kimmeridge Energy Management Company LLC now owns 3,694,879 shares of the company’s stock worth $303,682,000 after buying an additional 827,000 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in Chesapeake Energy by 18.1% during the second quarter. Dimensional Fund Advisors LP now owns 3,333,769 shares of the company’s stock valued at $274,005,000 after acquiring an additional 510,664 shares during the period. Finally, Lord Abbett & CO. LLC raised its holdings in Chesapeake Energy by 13.4% in the 1st quarter. Lord Abbett & CO. LLC now owns 2,599,352 shares of the company’s stock valued at $230,900,000 after acquiring an additional 307,814 shares in the last quarter. Institutional investors own 97.93% of the company’s stock.

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.