MML Investors Services LLC increased its holdings in shares of Chesapeake Energy Co. (NASDAQ:CHK – Get Rating) by 236.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 14,604 shares of the company’s stock after purchasing an additional 10,261 shares during the period. MML Investors Services LLC’s holdings in Chesapeake Energy were worth $1,376,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Prelude Capital Management LLC grew its holdings in shares of Chesapeake Energy by 100.2% during the first quarter. Prelude Capital Management LLC now owns 10,014 shares of the company’s stock worth $871,000 after buying an additional 6,175,883 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Chesapeake Energy by 15.7% in the 1st quarter. Vanguard Group Inc. now owns 11,196,852 shares of the company’s stock valued at $974,127,000 after purchasing an additional 1,517,281 shares during the last quarter. Clearbridge Investments LLC increased its holdings in shares of Chesapeake Energy by 4,616.7% in the first quarter. Clearbridge Investments LLC now owns 1,396,744 shares of the company’s stock valued at $121,517,000 after purchasing an additional 1,367,131 shares during the period. Arrowstreet Capital Limited Partnership raised its stake in shares of Chesapeake Energy by 1,578.4% during the first quarter. Arrowstreet Capital Limited Partnership now owns 1,243,663 shares of the company’s stock worth $108,199,000 after purchasing an additional 1,169,567 shares during the last quarter. Finally, PointState Capital LP acquired a new stake in shares of Chesapeake Energy during the first quarter worth $93,644,000.
Chesapeake Energy Stock Performance
Shares of CHK opened at $81.34 on Thursday. Chesapeake Energy Co. has a 12-month low of $72.50 and a 12-month high of $107.31. The stock has a market cap of $10.96 billion, a P/E ratio of 2.54, a PEG ratio of 0.39 and a beta of 0.65. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.34. The company has a 50-day moving average of $87.42 and a two-hundred day moving average of $95.07.
Chesapeake Energy Cuts Dividend
The business also recently disclosed a None dividend, which will be paid on Thursday, March 23rd. Investors of record on Tuesday, March 7th will be given a dividend of $1.29 per share. This represents a yield of 2.4%. The ex-dividend date of this dividend is Monday, March 6th. Chesapeake Energy’s dividend payout ratio is presently 6.86%.
Analyst Ratings Changes
Several research firms have recently commented on CHK. Mizuho started coverage on shares of Chesapeake Energy in a research note on Monday, January 9th. They issued a “buy” rating and a $155.00 target price for the company. Credit Suisse Group dropped their target price on Chesapeake Energy from $135.00 to $130.00 and set an “outperform” rating on the stock in a research report on Thursday, January 19th. Royal Bank of Canada raised their price target on Chesapeake Energy from $120.00 to $130.00 and gave the company an “outperform” rating in a report on Wednesday, November 2nd. Citigroup initiated coverage on Chesapeake Energy in a report on Wednesday, February 8th. They set a “neutral” rating and a $90.00 price objective on the stock. Finally, Wells Fargo & Company initiated coverage on Chesapeake Energy in a report on Tuesday, January 24th. They issued an “overweight” rating and a $117.00 target price for the company. Three analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $124.80.
Chesapeake Energy Company Profile
Chesapeake Energy Corporation, an independent exploration and production company, engages in the acquisition, exploration, and development of properties for the production of oil, natural gas, and natural gas liquids from underground reservoirs in the United States. 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; and the liquids-rich resource play in the Eagle Ford Shale in South Texas.
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